Manage online auctions to sell your products: the business model to which users just can’t resist.
Do you know what an online auction is?
I bet you do, and you probably have already considered selling products on eBay, the number one network in this field that built an empire on this kind of sales and got millions of people used to buying online through their bids, taking part in a sort of race to purchase.
Users who are interested in auctions are moved by the chance to get items at low prices and motivated to place a bid which in most cases turns into an immediate price rise as soon as they are outbid.
Auctions are simple: anybody can place a bid for a specific product and if no other bid exceeds the previous one, then they win the item. This allows buyers to grab products for their best price and allows vendors to generate a profit sometimes bigger than anticipated.
Using our YITH WooCommerce Auction plugin, you will not only be able to make auctions for your products but thanks to the integration of our YITH WooCommerce Multi Vendor you will have the chance to create a real portal for online auctions, allowing all of your vendors to create auctions of their own and letting you earn a share on each one of their sales.