How do I clerk an Auction?

Clerk the Auction

Clerking your auction in the system is swift and will ease your accounting process. This tutorial goes through the basics of clerking.

1. To find the clerking page, start at the dashboard and find your auction. Then go to Accounting–> Clerk this Auction. 

2. You are now at the Clerking screen. On the drop-down next to Auto Advance, choose whether you are clerking on the fly or in catalogue order. If you catalogued in our system and manually sequenced, it will advance according to your chosen order. In both of these settings, you can always add in a new lot such as "12A" by simply typing the new lot of the "Lots" box. If the lot doesn't exist, our system will ask if you would like to create it. 

3. To clerk, enter the first lot number in the "Lots" box. The lot will appear in your list. If you catalogued in our system, some of the boxes will auto-fill. Otherwise you can clerk on the fly. If you’re clerking on the fly, go ahead and enter the description, seller number (if applicable), winning bid and buyer number. Then check the box and click Save. 

Note: Use TAB when filling in fields. It will go much faster.

Also Note: To edit fields that appear unchangeable, click the pencil icon under Edit.

NOTE: If quantity is more than one or you have multiple items in the ring, you will see some options at the top. Use the explanations that follow to decide which options you would like to use:

  • Choice: often used if similar items are in the ring. The Buyer has a choice of any or all items in the ring. For this you have a choice between times the quantity and price per lot. Times the quantity means the winning bid times the quantity of lots in the ring. Price per lot means each lot will be sold at a separate winning bid amount.
  • Order: similar to choice except that the bidder must take lots in the order listed. For example, if 5 lots are in the ring, you could bid on 1-3, and the next person could bid on 4-5, or any combination that follows the order. Again you have a choice between times the quantity and price per lot.
  • Group: selling by group will sell all of the lots in the ring at once. You have the choice of times the quantity, price per lot, and one price (for the whole group of lots).

Times the Money, Lot, Reserve Not Met and Pass

Times the Money will multiply the quantity purchased by the winning bid. For example, say we are selling 10 clocks in Lot 3. Our first bidder purchases 5 of them at $10/ each so he’ll pay a total of $50:

 

 

 

Notice that we did NOT put a dollar sign ($) in the Winning bid box. 

Now there are 5 remaining clocks to be purchased, so the first group sold was automatically labeled as 3*1, and sales type is TIMES (times the money).

If you sell another 3 clocks, that purchase will be recorded as Lot 3*2, but let’s say we sell all three in a group for $25. In that case the sales type is LOT.

Now finally we try to sell the last two clocks, but the reserve is not met. So we just click Reserve Not Met and it will automatically save. The buyer is recorded as RNM (Reserve Not Met) and this status will appear on the Priced Inventory Sheet in your Accounting Reports.

If no one is bidding, click Pass.

 

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