Auctions need to be prepared. Users must consider carefully which option, from the ones available, will bring the maximum price for a product. Read more about the features that ensure that users will never sell below a preset price.
From the Auction Settings (Admin Control Panel -> Settings -> Listing Settings -> Auctions & Products -> Auction Settings ) menu:
If enabled allows the listing of auctions on the website.
Complete the steps described in the Create Listing page.
In the Listing Settings section, complete the distinct auction type fields:
Set a starting price for the item.
Add a reserve price for the auctioned item. The item won't be sold until it reaches an equal or higher price than the reserve price.
If enabled allows the bidder to instantly purchase an item by agreeing to pay the preset Buy Out Price.
If enabled allows sellers to accept offers for items. Sellers can also set a price range.
Go here for a detailed description of the feature.
If enabled, sellers can either:
If enabled, all bidders on a particular auction will be hidden to site users. Only auction owners will be able to see bidders' usernames.
Note: Bid amounts will still be visible.
If checked, disables the sniping feature for an auction.