How to host an auction
Auctions are a great way to sell products on Busker. Once you've set up your Busker Store and added products via Stripe you are eligible to host an auction. Here's a step by step guide to hosting an auction:
1. On the pre-broadcast screen, select a product from the drop down menu below the title field. You can only select 1 product per broadcast. Tap the Go Live button to start the broadcast.
2. Once you're live, note that your product will be active and salable. There is a possibility that someone could buy your product before you actually start the live auction. If you have inventory greater than 1, then you'll probably be ok but its important you understand that a live auction can be activated only after a product is salable. You can of course control the salability of a product by accessing your Stripe Dashboard during your live stream and adjusting inventory accordingly. Inventory can be updated on the fly when you're live. For example, you can go live with a product that has an inventory of "0" and during the broadcast once you're ready to start the auction, change the quantity to 1 or more.
3. Now you're live and you want to start the auction - here's what you do. At the bottom of the broadcast screen tap on the "gavel" icon. A screen will appear where you an set the auction parameters. You can select a reserve price ($1 to $1000) and set the auction duration (3-10 minutes). Once you've done that, simply press the Start Auction button to begin your live auction. You'll see a banner at the top of your screen with the auction details including the timer and your reserve price. As viewers bid on your product, we will call out the current highest bidder and the current bid.
4. Once the auction ends, Busker will automatically process the order for the highest bidder that meets or exceeds your reserve price. You've sold your product via auction and now you need to fulfill your order just as you would for a standard sale.
It's important to note that you can only auction 1 product at a time. However, you can start an auction for a product that has an inventory greater than "1". When the auction ends the rest of your inventory will be salable . For example, if the product you select to auction has an inventory of 10, when you activate the auction only 1 product will be offered. When the auction ends you will have 9 products for sale at the original price set in your Stripe dashboard. As such, you cannot sell and auction a product at the same time. When an auction is live, the sale button is replaced with the auction button. When the auction ends the sale button then replaces the auction button.
Hosting auctions is only available for our iOS users at the moment. And, you can only bid on an auction item if you have a US shipping address.
Ok, that should just about do it! Now go out there and start some auctions.... Good Luck!