Additional customisable Auction Settings (Admin Control Panel -> Settings -> Listing Settings -> Auctions & Products -> Auctions Settings):
Auctions Editing Time Limit
If the remaining duration of an auction is less than the set time limit, the seller will not be allowed to edit it.
Auctions Sniping Feature
Definition: When a bidder, during a timed auction, places a bid that becomes the highest bid with just seconds remaining until the end of the auction, leaving no time for other bidders to outbid him / her.
If the remaining duration of an auction is less than the set duration, the time will be extended to the above setting.
Change Auction Duration when a bid is Placed
If enabled allows the admin to change auction duration after the first bid has been placed.
If the duration left on the auction is over the set value, then it will automatically reset to the value above.
Close Auctions Before End Time
If enabled allows sellers to close auctions early even in the case of a high bid.
Note: By default, auctions can be closed before the closing date/time only if there are no bids or if the highest bid is lower than the reserve price.
If enabled the site will use proxy bidding feature, on the buyer's behalf, when bidding on an item. When winning an auction via a proxy bid, the buyer will pay the lowest possible winning bid, which may be the same as the highest amount bid.
Scenario: Buyer1 bids $10 and Buyer2 bids $15, with bid increment set at $1. Buyer2's bid will be increased to $11 to outbid Buyer1 and become the highest bid. The maximum bid is never revealed to other bidders and in the case of a tie, the earliest bid takes precedence.
Note: Proxy bidding is a guarantee that the bidder (and winner) is always getting the best possible price.
Limit Number of Bids / Offers per User
If enabled sellers will be able to limit the number of bids and/or offers that one can place on an auction (proxy bids are not taken into consideration).