Auction Settings - Auction type - reverse
What is Reverse Auction?
In the Ultimate WooCommerce Auction pro plugin, there are two types of the auction - normal and reverse. So, plugin also provides the functionality to add reverse auction on your site. A reverse auction is similar to a normal auction but the auction process is performed in a reverse manner means bid prices will typically decrease.
Add reverse auction:
To add reverse auction on your site please select the "reverse" option in auction type in the Auction tab.
Reverse auction text:
When any auction is a reverse auction, you can view the note on the auction detail page
Reverse auction settings:
Admin can change reverse auction text and it can be also disabled using below auction setting. You can enable or disable reverse auction text on product page. Also you can change reverse auction text using below setting.
Go to Admin Dashboard > Auctions > Settings > Display
In a reverse auction, the Opening price will be greater than or equal to the reserve price. So, bidders have to bid for the lower amount of opening price.
When you add any reverse auction then it will be displayed like below,
Bidder have to place bids like,
Bidder A - place bid - 700 - (next bidder can bid for 700-50 = 650 or less than 650)
Bidder B - place bid - 450 - (next bidder can bid for 450-50 = 400 or less than 400)
Bidder C - place bid - 270 - (next bidder can bid for 270-50 = 220 or less than 220)
Here is an example of real bidders, who bids in a reverse order.
And when the auction is expired, Richard Miller (who have the lowest bid amount) becomes the winner of the product.