With our last software release, Vinfolio has made several new tools available to sellers in the Marketplace. The ultimate goal is to put more power in the hands of the Seller, which will in turn enable the Bidder to make more realistic bids. Included tools are: BuyNow setting, ability to set a Reserve price, and option to give feedback to the Seller.
BuyNow 
Sellers now have the ability to tell Bidders exactly what they want to sell their wine for with a Buy Now price which is visible to bidders when searching for wine in the Marketplace. When a bidder places a bid at that price that matches the minimum quantity the Seller has set, the bid will be automatically accepted, regardless of storage location. To set a Buy Now price, simply set an Asking price and check the box to “Enable Buy Now”. Because bids will be automatically accepted for you, we recommend double-checking your inventory before selecting this option. You will be charged a cancellation fee if a bid is accepted and you are not able to fulfill the wine. You may also set an optional minimum quantity for the Buy Now price and an expiration date.
Reserve price 
As an option or addition to Buy Now, Sellers can now set a Reserve price. A Reserve price, which is not visible to the bidder, replaces the minimum price. Use this option to indicate the lowest price you are willing to accept for this wine. Note that a bid at or above your Reserve price will be auto-accepted, regardless if you have set a Buy Now asking price. You have the advanced options of setting a minimum quantity and an expiration date for your Reserve price. Again, because bids will be automatically accepted for you, we recommend double-checking your inventory before selecting this option. You will be charged a cancellation fee if a bid is accepted and you are not able to fulfill the wine.
Bidder feedback
Lastly, Sellers now have the option to give feedback to bidders to improve their bids. On the Marketplace wine detail page, you will see an option for Bid Feedback underneath each wine you own for which there is an open bid. Click on the Feedback button to open the feedback form. This will give you an option to provide the terms to the bidder under which you would accept their bid.
Providing feedback does not obligate you to accept an updated bid nor does it ensure you will have first dibs to accept it. If a bidder changes their bid, a Bid Alert will be sent to all qualified Sellers. First to accept the bid, wins.
