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UK Auctions

You will learn how to manage UK Auctions in Bravo, including configuring settings, listing items, and processing sales in compliance with local regulations.

The following video will go through how to use UK Auctions. This feature is only able to be used by stores in the UK.

If you are also looking at the UK Private Treaty functionality, know that Auctions will NOT work if you also use Private Treaty. We suggest that you use Private Treaty as your main function and for the items that need to sell at auction, just do a Vendor Transfer.

 

 

Notes on Auctions:

  • You CANNOT split items. The pledge will not go to Auction.
  • Under £75 pawns will never go to the auction list. They will remain in the store for sale.
  • Backdated pledges will NOT go to auction. These loans are believed by the system to not require it anymore, and is just a means to get the items into the system. If you are looking to do a manual conversion, please consult with your Onboarding manager about a conversion from your current software to Bravo.
  • Items MUST be priced prior to scrapping or selling to a vendor. We have added functionality in 2.5.6 to make sure this step is followed.

Frequently Asked Questions:

  • Q: How is the Suggested Items generated in the Auction?
    • A: Pledges that have gone to UNPRICED status that are over £75.
  • Q: Can the Unpriced items be adjusted for error correction?
    • A: Yes, prior to the item going into the Auction List the items can be adjusted.
  • Q: How does Reserve amount work?
    • A: It is based on the Cost of the item plus the Interest owed when it was expired/forfeited. The Amount is rounded to the nearest pound.