️ Sealed Bid Auctions

Modified on Tue, 9 Jan at 1:31 PM

Introduction

One of the auction types available in Snoofa is Sealed Bid auctions.

Sealed Bid auctions are different to live auctions in that they do not involve an auctioneer. The bids are submitted through the online catalogue by clients or in the administration by staff members.

Unlike timed auctions, all lots in the auction will close at the same time, whenever the deadline is.

Read on to see how to use this feature.

Create a Sealed Bid Auction

Click Add New Auction

This can be done either by the plus icon in the top menu, or via the Add New Auction button on the Auctions menu.

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Select Sealed Bid as the auction Type.

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All of the other steps involved in creating the auction are the same as for a Live auction. The key consideration is the end date and time, as this will be the deadline for bids being submitted.

Log a bid on behalf of a client

Sealed bids can be logged on behalf of clients via the lot detail in the administration. The clients must be first registered to the auction for bids to be added.

The log of sealed bids placed can be seen above

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Scroll to the Place a Sealed Bid on behalf section of the page:

  • Select the registration to place the bid on behalf of (they must be registered to the auction to appear here).

  • Enter the bid value

  • Enter the date and time of the when the bid was placed (this is important when bids have been submitted via different sources, e.g. email and we need to know which bid was placed first to determine the successful bidder).

  • Click the green Place a Sealed Bid button

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Navigate to a lot detail. This can be done by clicking on a lot number on the Catalogue.

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Place a sealed bid as a client

Placing sealed bids as a client is the same as in a live or timed auction, but with one key difference. In these auctions, the bid is placed by selecting an increment from the dropdown. With sealed bids, there is a free text field where the client can place any bid amount. This works the same way as aftersale auctions.

On the lot detail, enter the desired bid amount and click Place Sealed bid

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The confirmation pop-up will appear:

Click Sealed bid to confirm the bid

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When the bid is placed, the bidder will be able to see their bid amount and are free to raise this bid should they wish

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They will be able to monitor their bids from the client zone

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Sealed bids on the-saleroom.com

If you upload your sealed bid auction to the-saleroom (via GAP), the bids and registrations created there can be easily downloaded into Snoofa. This can be done any time during the auction, as many times as desired.

From the auction Dashboard, click the Sync with GAP button

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Click the Sync Bids button. There is no need to click the Sync Registrations button - this will import registrations without bids and the registrations will be created automatically when Sync Bids is clicked.

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The imported clients can be seen in the Registrations section of the auction. They will be given the GAP label.

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Ending the Auction

Once the auction deadline has passed, bidding will be automatically closed for online bidders

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To move the auction from the In Progress to Ended state, click the Close button on the auction dashboard.

This will still allow post auction activity such as adding late bids and invoicing, its main purpose is to communicate on the website that the auction is over and move the auction from upcoming to past auctions.

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The Catalogue and Manager datagrids will show the lots marked as unsold (red) or sold (green).

Only lots that have a bid above the reserve will be considered sold.

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At this point, the system does not confirm (resolved) the lots as either sold or unsold.

They exist in a state of either considered unsold or considered sold. They need to be resolved.

This is to allow for any changes or mistakes after the bidding deadline passes.

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This can be done via the Resolve Lot button on the lot detail.

Here you can confirm the current result or alter the result.

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Or this can be done by using the bulk actions.

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You can keep track of the lots which have, or haven’t, been resolved from the ticks and crosses in the Resolved column.

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And there you have it! Once all lots have been resolved the rest of the post-auction activity can occur.

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