How To Build A Simple Auction Website Using WooCommerce?

If you’re not sure how to regulate an auction online, know that there is plenty of auction software to help you out. When it comes to defining this process, simply put, Internet auction websites provide a unique sales channel for both consumers and businesses.

Auction website using WooCommerce

Types of auctions

Reverse auction

As the name suggests, a reverse auction is the opposite of a traditional auction. Instead of consumers bidding on a single item, sellers compete to offer services and products to the buyer. Instead of raising prices with each bid, a reverse auction lowers the price until a buyer is willing to pay.

Penny auction

Also called auction fee auctions, these are exact online auctions where the consumer buys the right to place a bid in the auction before it begins. From the name, you can tell that the bid is increasing by a cent. The difference is that the buyer pays in advance for a certain number of bids. Sometimes they are also timed.

English auction

This is the most common and traditional form of online auctions. Here, one product is auctioned and a reserve bid is attached. Individuals submit increasing bids until no one is ready to outbid the last bidder.

Dutch auction

This is similar to an English auction, but in reverse. The opening price starts high and is lowered until someone decides to accept the price. Although the auction format is less popular, it is well received online.

Steps to create an auction site with WooCommerce

⦁ Create eBay-style auctions.
⦁ Create an Escrow.com account.
⦁ Start an auction with a variety of payment methods.
⦁ Send configurable emails to attendees.
⦁ Allow users to keep track of offers.
⦁ Promote auctions with various widgets.

Conclusion

Developing a WooCommerce auction business is not only a simple process, but it is quite possible even for newbies. Since it helps you generate a profitable income, although it takes a lot of time and effort to maximize profitability and visibility, WooCommerce is definitely a viable and solid platform to start with for both large and small auction businesses.