An Overview

Spenowr aims to provide art buyers/sellers an opportunity to acquire art at attractive price points along with making the buying/selling process easy. It offers a platform for artists to showcase their work, reach a wider audience, and not be restricted to their local markets or cities.

Spenowr has recently introduced a new bidding feature — among sellers/buyers, the most innovative has to be ‘Bidding Strategies‘ and ‘Adjust Bids by Placement.

What is Bidding?

When a seller list an item for sale in a Spenowr auction, the seller chooses a bidding price(which is lesser than the selling price), and interested buyers place bids. When the auction ends, the seller sells to the highest bidder.

Whether you are an advanced or a novice seller, this article will definitely clear all your doubts about Spenowr’s bidding strategies and provide the seller/buyer with a smooth understanding of how these features can be implemented to benefit your business.

How does bidding work?

The term bid refers to an offer made by an individual or buyer to purchase an asset. seller commonly makes bids at auctions and in various markets. Bids may also be made by sellers that compete for their products.

In an auction-style listing, sellers name a starting/bidding price and you bid against other buyers. Seller and buyer can keep track of your bidding from the Bids/Offers section of the Spenowr profile. When the listing ends, the bidder wins the auction and pays for the item.

Pricing Tips:

• A low starting price can help attract bidders.

• You can add a Buy Now price to an auction listing, which will be shown until the first bid is placed. The Buy Now price has to be lower than the auction bidding price.

  Here, we will start from the basics and help you build the foundation of your Spenowr bidding strategy in the most effortless manner. 

Steps:

Under the products section, the seller can add their products. After admin approval, he/she can add the bidding price using the "Enable for bidding" button.

The seller can fix the bidding price. The bidding price is less than the selling price.

If an interested buyer wants to place that product bid then, he can check that product on the product detail page with the “Make an offer” button. If the buyer mouse hovers that button he will be able to see the bidding price that seller placed.

Then a pop-up window will open where the buyer can place their price.

The seller is received an email and notification of which buyer places the bidding price.

By clicking on the “BIDS” Button, the seller can manage all the bidding prices.

Here seller can accept, reject or counter-offer the proposal.

If he accepts, a popup window will open which seller can send a message to the buyer for acceptance.

After that buyer received an email and notification with the seller’s acceptance.

When the listing ends, the bidder wins the auction and pays for the item with the “Buy Now” button.

By clicking on the button buyer can pay the listing price and complete all the processes. After successful payment buyers can see their orders in the “My orders” section under their profile.