Lot Description Overview

 

Lot Descriptions

Lot descriptions are a crucial part of any online auction.  Bidders rely on the information provided to make purchasing decisions so it is important that descriptions be thorough and provide all the necessary information that a bidder would need. 

Fields Within a Description

There are many fields within a description that you will need to familiarize yourself with before you begin creating an auction.  

Field	Explanation	Example
Lot Number	The number for the lot, typically starting at 1.	1,2,3,4,
Title	Required field which is the first line of the lot. The title informs the bidder of a general idea of what is within the lot. Titles cannot be changed once an auction has been published.
Lot Category	The category that best fits the item(s) in the lot. You can locate the correct category by searching for a keyword (i.e. "vehicle") or by clicking "Select" to display the entire list.
Starting Price	The price at which bidding will start. Fixed at $5.00, or $1000 for very high value lots.
Reserve Price	The minimum price which the item must meet before it will be sold. Must be included before the auction is published to a live status.  Minimum accepted reserve is $100. Reserve Policy	$10,000
Description	The general overview of what the item is, be as specific as necessary and include dimensions, hours, etc. The description can be formatted with bullet points and different fonts. See required item description details for titled/registered assets Selling Titled Assets
YouTube URL	Allows you to embed a (up to 3) YouTube videos directly into a description. The video URL will be pasted into this field. See Adding a Video	YouTube Example
YouTube Name	Friendly name for the YouTube link. The text is displayed for the hyperlink.
PDF URL	Allows you to attach (up to 3) PDF's into a description. The pdf must be hosted by a website and the URL is pasted into this section.  See Adding PDF to a Lot	PDF Example
PDF Name	Friendly name for the PDF link. The text is displayed for the hyperlink.
Quantity	IMPORTANT: Only use if you wish to have the item be times the quantity. Example: If quantity is 15 and the starting bid price is $2.00, the first required bid will be 15 X $2.00 or $30.00. If you have multiple items in a lot you may make note within the description rather than using the quantity option.	10
Is Taxable	Default as checked. Can be unchecked for non-taxable items such as clothing or vehicles.
Fees and Taxes	See Adding Fees for more information.
Seller	Allows you to assign a seller to each the item. Create your sellers first by visiting the Seller Overview page.  Multiple sellers can be assigned within each auction.	Jane Doe
Commission Rate	The commission rate to be applied for that item.  Will pull your sellers default commission rate unless otherwise noted.