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Auction rules
Every auction is governed by a set of rules that the bidder must read before participating.
Auction rules are established when creating an auction and include items such as the following information:
- The auction type
- The product name
- The quantity available
- Whether a reserve price exists for the auction
- The deposit amount to be forfeited if the winner refuses to accept the auctioned items
- The auction start date and time
- The conditions under which the auction will end, such as a scheduled end date and time
- Bid rules describing the minimum bid price, quantity, and bid increment
To use bid increment rules, ensure that you set the quantity to 1 on the Auction Product page.
- Price mechanisms for the auction
If auction rules change during an auction, bidders must reread the rules before submitting or updating bids. Bids submitted before a rule change are not affected and can still win the bidding.
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