> ## Documentation Index
> Fetch the complete documentation index at: https://docs.fanfare.io/llms.txt
> Use this file to discover all available pages before exploring further.

# Configure Auction

> Set up competitive bidding auctions for high-value items and price discovery

# Configure Auction Experience

Auction experiences enable competitive bidding on products, allowing the market to determine fair prices. This is ideal for high-value items, collectibles, and unique products where demand exceeds supply.

## When to Use Auctions

Auctions are best for:

* **High-value items** - Luxury goods, rare collectibles
* **Price discovery** - Let the market set the price
* **Unique products** - One-of-a-kind or limited items
* **Charity events** - Fundraising with competitive bidding
* **Overstock liquidation** - Clear inventory at market prices

## Creating an Auction Experience

1. Navigate to **Experiences > Create Experience**
2. Select **Auction** from the experience type options
3. Complete the auction configuration form

*Caption: The auction creation form with all configuration options*

## Auction-Specific Settings

### Auction Type

Choose the auction format:

| Type                    | API value | Description                                         | Best For                 |
| ----------------------- | --------- | --------------------------------------------------- | ------------------------ |
| **English (Ascending)** | `english` | Bids increase until time expires                    | Most common, transparent |
| **Dutch (Descending)**  | `dutch`   | Price drops over time until purchase or floor price | Quick sales, perishables |

*Caption: Choose the supported auction format*

### Pricing Configuration

*Caption: Configure pricing rules for your auction*

| Field                     | API field                  | Required | Description                                  |
| ------------------------- | -------------------------- | -------- | -------------------------------------------- |
| **Auction Type**          | `auctionType`              | No       | `english` or `dutch`; defaults to `english`. |
| **Reserve Price**         | `reservePrice`             | No       | Minimum successful price.                    |
| **Minimum Bid Increment** | `minBidIncrement`          | No       | Minimum increment for English auctions.      |
| **Start Price**           | `startPrice`               | No       | Starting price for Dutch auctions.           |
| **Floor Price**           | `floorPrice`               | No       | Lowest Dutch auction price.                  |
| **Price Drop Amount**     | `priceDropAmount`          | No       | Dutch auction drop amount.                   |
| **Price Drop Interval**   | `priceDropIntervalSeconds` | No       | Seconds between Dutch price drops.           |
| **Quantity**              | `quantity`                 | No       | Quantity available.                          |

<Info>
  **Reserve Price**

  If the reserve price isn't met, the item won't sell even if there are bids. The reserve is hidden from bidders by default.
</Info>

Send money values as decimal strings, such as `"100"` or `"100.00"`, when using the Admin API.

### Schedule Configuration

| Field                   | API field           | Required | Description                                      |
| ----------------------- | ------------------- | -------- | ------------------------------------------------ |
| **Open At**             | `openAt`            | No       | When bidding opens.                              |
| **Close At**            | `closeAt`           | No       | When bidding closes.                             |
| **Settle At**           | `settleAt`          | Yes      | Settlement timing used for the auction schedule. |
| **Auto Extend Seconds** | `autoExtendSeconds` | No       | Extension duration for late bidding.             |

### Auto Extend

Extend the auction when late bidding occurs:

| Setting                 | API field           | Description                                                                    |
| ----------------------- | ------------------- | ------------------------------------------------------------------------------ |
| **Auto Extend Seconds** | `autoExtendSeconds` | Extension duration applied by the auction when late bidding extends the close. |

*Caption: Prevent sniping with automatic auction extension*

## Payment Integration

Auctions require payment integration to collect from winners.

### Stripe Connect

Connect your Stripe account to process auction payments:

1. Navigate to **Settings > Payments**
2. Connect your Stripe account
3. Enable auction payments

*Caption: Connect Stripe to process auction payments*

## Bidder Requirements

Control who can participate:

| Setting                  | Description                                                            |
| ------------------------ | ---------------------------------------------------------------------- |
| **Audience Restriction** | Limit to specific audiences by configuring the sequence.               |
| **Access Code**          | Require an access code on the sequence when appropriate.               |
| **Account Requirement**  | Use your integration path to require identified consumers for bidding. |

*Caption: Set requirements for auction participants*

## Notifications

### Bidder Notifications

| Event                   | Notification                           |
| ----------------------- | -------------------------------------- |
| **Bid Placed**          | Confirmation of your bid               |
| **Outbid**              | Someone bid higher                     |
| **Auction Ending Soon** | Reminder before close                  |
| **You Won**             | Congratulations + payment instructions |
| **You Lost**            | Auction ended, you didn't win          |
| **Payment Reminder**    | Reminder to complete payment           |

### Seller Notifications

| Event                | Notification                  |
| -------------------- | ----------------------------- |
| **New Bid**          | Someone placed a bid          |
| **Reserve Met**      | Bidding reached reserve price |
| **Auction Ended**    | Final results                 |
| **Payment Received** | Winner completed payment      |

## Auction Timing

```
upcoming → active → ended
              ↓
            killed
```

Auction visibility and bidding actions are derived from the distribution timing state:

| State        | Description                                                 |
| ------------ | ----------------------------------------------------------- |
| **upcoming** | The auction is scheduled but bidding has not opened         |
| **active**   | Bidding is open                                             |
| **ended**    | Bidding has closed and winner/payment follow-up can proceed |
| **killed**   | The auction was manually stopped                            |

## Example: Collectible Auction

### Scenario

* Item: Signed memorabilia
* Expected value: \$500-1,000
* Duration: 7 days

### Configuration

```yaml theme={null}
Name: "Signed Championship Jersey Auction"
Product: Signed Jersey #23
Audience: All Registered Users

Auction Type: English (Ascending)

Pricing:
  Starting Bid: $100
  Reserve Price: $500
  Bid Increment: $25

Schedule:
  Open At: Monday 9 AM
  Close At: Sunday 9 PM
  Settle At: Sunday 10 PM

Auto Extend:
  Auto Extend Seconds: 300

Payment:
  Follow your checkout/payment integration after the auction settles

Notifications:
  - All bidder notifications
  - Seller notifications for new bids
```

*Caption: A fully configured collectible auction*

## Best Practices

### Setting Prices

1. **Research comparable sales** - Check what similar items sold for
2. **Start low to attract bidders** - Low starting bids drive competition
3. **Set realistic reserves** - Too high and you won't sell
4. **Consider no reserve** - Guaranteed sale, potentially lower price

### Auction Duration

| Duration   | Best For                           |
| ---------- | ---------------------------------- |
| 3 days     | Low-value items, quick sales       |
| 7 days     | Standard auctions                  |
| 10-14 days | High-value items, maximum exposure |

### Timing

* **Start mid-week** - Avoid Monday/Friday when people are busy
* **End on Sunday evening** - Maximum bidder availability
* **Avoid holidays** - Reduced participation

## Handling Issues

### Reserve Not Met

Options when reserve isn't met:

1. Contact highest bidder to negotiate
2. Relist with lower reserve
3. Accept the highest bid anyway

### Payment Failure

If winner doesn't pay:

1. Send payment reminders
2. Contact winner directly
3. Offer to second-highest bidder
4. Relist the item

### Disputed Bids

If a bidder disputes:

1. Review bid history
2. Check for technical issues
3. Contact bidder for clarification
4. Consider canceling problematic bids

## Related Guides

* [Payment Settings](/dashboard/settings/integrations) - Configure Stripe Connect
* [Experience Schedule](/dashboard/experiences/experience-lifecycle) - Understanding auction timing
* [Experience Analytics](/dashboard/experiences/experience-analytics) - Auction metrics