Add Consignment Category
To Add A Consignment Category start by going to the Consignment Categories dashboard. This can be found from the main Auction Dashboard by clicking through the Items sidebar entry and then clicking through the Consignment Categories Actions sidebar entry.
Pre-Requisites
Since Consignment Categories are best created with an Expense Category assigned, please ensure you have appropriate Expense Categories created before adding your Consignment Categories.
See ∞ Create Expense Category for additional references.
Clicking on Add Consignment Category under the Actions sidebar will allow you to add new Consignment Categories.
Adding Categories
Name
To add a new Consignment Category you will need to enter its Name.
Expense category
Select the Expense category from the drop-down selector, if needed. This is the Expense category to assign the automatically generated expense records to.
IMPORTANT
Consignment Items should be assigned to a Consignment Category to allow for easier tracking of the expenses involved. If an Expense category is to be used, it must be created first. See ∞ Create Expense Category for more details.
Percentage Of Winning Bid
The Percentage Of Winning Bid is calculated based on the final winning bid amount. This will be used in calculating the final Consignment Expense for the item.
Minimum Percentage Of Value
The Minimum Percentage Of Value is calculated and compared to the Percentage Of Winning Bid calculated value. The greater of the two values is accepted as the amount of the expense.
Maximum Percentage Of Value
The Maximum Percentage Of Value is calculated and compared to the Percentage Of Winning Bid calculated value. The lesser of the two values is accepted as the amount of the expense.
INFORMATION
The Percentage values are accepted as whole numbers, meaning, if you enter 75 into the field it will be treated as 75%.
Consignment Expense Examples
| Value | Winning Bid | Percentage of Winning Bid | Minimum Percentage of Value | Maximum Percentage of Value | Expense Amount |
|---|---|---|---|---|---|
| -- | -- | 60% | 70% | 80% | -- |
| $100 | $150 | $90 | $70 | $80 | $80 |
| $100 | $120 | $72 | $70 | $80 | $72 |
| $100 | $100 | $60 | $70 | $80 | $70 |
| $100 | $80 | $48 | $70 | $80 | $70 |
Auctria Pro-Tip from Launch Services!
If there is a potential for a winning bid less than the Minimum Percentage of Value calculation, setting an appropriate Starting Bid, or a Reserve Price, would protect the organization from an expense above the winning bid.
Notes
The Notes section can be used for whatever internal references you may have. This information is generally not made available to the public.
An example new Consignment Category (not necessarily a recommendation).
Clicking the Add Consignment Category button will add the new Consignment Category and return to the Consignment Categories dashboard.
An example taken from a demonstration event.
Last reviewed: March 2023