This article describes Bid Limits and how they can be applied to bidders.
This article contains the following sections:
About Bid Limits
Bid Limits is a feature that limits bidders to spending up to a specified amount per sale on LiveAuctioneers. Bid limits are usually placed when a bidder is new to the LiveAuctioneers platform (and has little or no bidding history) or a bidder is new to an Auction House.
Placing Bid limits does not impact your current bidder approval flow unless you would like to start using them.
Bid Limits can be put in place at any time during a sale- meaning they can be added to bidders who have already been approved.
All bidders who have Bid Limits in place will appear under the Approved Limited tab on the Bidder Dashboard.
Bidder Experience
If a bidder has a limit placed on them for a sale, the bidder will be notified via LiveAuctioneers' notifications or by email. They will also see the limit when they register for the sale and when they go to place a bid. For more information on what bidders with Bid Limits see on LiveAuctioneers, click here.
If bidder would like to have their Bid Limit increased, they can reach out to the Auction House via the LiveAuctioneers messaging system to request an increase. You can then edit the bidder's Bid Limit as needed.
Setting Bid Limits
You can set bid limits for your bidders on a Global Level (all bidders who have registered for your auction) or a Manual Level.
Global Level
If you would like to globally approve your bidders and set bid limits on them:
- From the Seller Dashboard, click on the Bidders tab and select Automation Settings.
- Select the Custom Auto-Approval menu from the left side of the page.
- Click the Edit link to the right of the Custom Auto-Approval with Bid Limit section at the bottom of the page.
- Check the box to the right of a condition to select it as approval criteria.
- Select whether bidders will be automatically approved if they meet Any or All of the selected conditions.
- You’ve previously approved this bidder
- This bidder has been approved for at least X number of auctions
- This bidder has won at least X number of items on LiveAuctioneers
- This bidder has spent $X amount of money on LiveAuctioneers
- This bidder has a verified credit card on file
- This bidder is likely approved through Live.Approvals
- Use the drop-down to select a Bid Limit.
- Bidders will only have the ability to bid up to the selected amount.
- Click the Save Criteria button to save the changes.
Manual Level
If you would like to add Bid Limits to bidders and approve them individually:
- From the Seller Dashboard, click on the Bidders tab and select Manual Approval.
- Locate the bidder using the filters or the Search field. For more information about the Bidder Dashboard, see Bidder Management 101.
- Bid Limits can be placed on bidders who have already been approved for the sale.
- Click on the applicable bidder and then scroll down the Bidder Profile section on the right side of the page.
- Check the box to the right of each auction you'd like to set the Bid Limit for, then use the drop-down to select a Bid Limit and then click the Approve button.
Example:
Editing Bid Limits
Bid Limits can be increased/decreased on bidders as needed.
From the Seller Dashboard, click on the Bidders tab and select Manual Approval.
Click on the Approved Limited tab.
Click on the applicable bidder and then scroll down the Bidder Profile section on the right side of the page.
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Check the box to the right of each auction you'd like to edit the Bid Limit for, then use the drop-down to select a new Bid Limit and then click the Approve button.
If a Bid Limit is lowered to a value the bidder has already exceeded, it will not revoke any placed bid.