Managing Auctions

What is an Auction Event?

An auction event groups multiple properties (lots) together into a single scheduled auction. This is commonly used for in-room or hybrid auctions where multiple lots are sold in one session.

Auction event management is primarily used for Fusion (hybrid in-room/online) auctions. For standard online-only auctions, properties are managed individually through the Properties section.

Viewing Auctions

Navigate to Auctions in the sidebar to see all auction events. Each auction displays:

• Auction name and date.
• Organisation running the auction.
• Number of lots included.
• Registration counts (online and in-person).

Creating an Auction Event

1. Navigate to the auctions section and click Add Auction.
2. Fill in the auction details:
   • Auction name - A descriptive name for the event.
   • Organisation - The organisation hosting the auction.
   • Date and time - When the auction takes place.
3. Save the auction to create it.

Managing Lots

Once an auction event is created, you can add properties as lots:

1. Open the auction by clicking on it in the list.
2. The auction detail page shows all properties assigned to this auction.
3. Add lots by assigning properties to the auction.
4. Reorder lots by dragging and dropping to set the running order.
5. Remove lots if a property needs to be withdrawn.

Each lot in the table shows:

• Lot number and property details.
• Current bid status.
• Reserve price.
• Registration count for that specific lot.

Marking Properties as Sold

From the auction detail page, you can mark individual lots as sold when the hammer falls, recording the final sale price and the winning bidder.

Assigning Winners

For in-room bidders, use the Assign Winner action to link a registered buyer to a specific lot after the hammer falls. This allows you to:

1. Select the property/lot.
2. Choose from the list of registered bidders.
3. Confirm the assignment.

Auction Registrations

The Registrations tab within an auction shows all buyers who have registered to bid. Registrations are split into:

• Online registrations - Buyers who registered through the website.
• In-person registrations - Buyers registered at the venue.

For each registration you can view:

• Buyer name and contact details.
• ID verification status.
• Which lots they've registered for.
• Deposit payment status.

Audience View

The Audience tab provides a view of who is currently watching or participating in the auction, useful for gauging interest during a live event.

Auction Insights

The Insights tab provides analytics for the auction event, including bidding patterns, registration trends, and engagement metrics.

Auction Types

Bamboo supports two main auction types:

Traditional Auction

Exchange of contracts takes place immediately when the hammer falls. The buyer must:

• Have completed ID verification before bidding.
• Pay the deposit immediately.
• Complete the transaction within the agreed timeframe (typically 28 days).

Conditional Auction

The winning buyer enters into a reservation agreement at the end of bidding:

• The buyer pays a reservation fee.
• Exchange of contracts occurs within up to 28 working days.
• This gives the buyer time to arrange a mortgage or complete surveys.