*Internal* System Release Notes March 5th, 2026
UPDATE – On-Site & Internet Buyer’s Premium UI
In preparation for NextLot’s upcoming onsite bidder invoicing system, we’ve made updates to the On-Site Buyer’s Premium and Internet Buyer’s Premium sections of the UI.
Please note: the Buyer’s Premium Text section has not changed and will appear the same on the public-facing site.
Auction Site-Wide Settings
To set your default On-Site and Internet Buyer’s Premium:
- Click the Settings icon
- Select Auctions
- You will land on the Buyer’s Premium tab
As mentioned above, the Buyer’s Premium Text remains unchanged. You will now also see a section labeled Buyer’s Premium Platform Labels. This feature is currently in development, and more information will be shared soon.
On-Site Buyer’s Premium
In this section, you can select the premium type:
- Percentage
- Flat rate
- Sliding scale
- Cumulative sliding scale
These options have not changed.
You can also set a minimum amount and cap amount, if applicable.
Internet Buyer’s Premium (Most Noticeable Update)
There are now two options available:
- Charge on top of the On-Site Buyer’s Premium
- Charge only the Internet Buyer’s Premium
Option 1: Charge on Top of the On-Site Buyer’s Premium
If this option is selected, you will enter the additional premium that will be added to the On-Site Buyer’s Premium.
Example:
An auction house has the following On-Site Buyer’s Premium sliding scale:
- $55,001 and above: 5.99%
- $4,501 – $55,000: 10%
- $1 – $4,500: 12.5%
Plus: An additional 1.5% fee for online bidding.
In the system, you would:
- Enter the sliding scale under On-Site Buyer’s Premium
- Enter 1.5% under Internet Buyer’s Premium (set to “Charge on top of the On-Site Buyer’s Premium”)
Scenario:
If a bidder purchases a tractor for $50,000:
- 10% On-Site Premium = $5,000
- Subtotal = $55,000
- Additional 1.5% online fee = $825
Total Due: $55,825 (excluding applicable taxes)
Option 2: Charge Only the Internet Buyer’s Premium
If you do not want to add an additional premium on top of the On-Site rate, select “Charge only the Internet Buyer’s Premium.”
For example:
If your auction house charges a flat 15% premium on all purchases—whether onsite or online—you would enter that 15% in this section.
Auction-Specific Settings
The same process applies when setting premiums on an auction-by-auction basis:
- Click the gear icon next to the auction
- Select Buyer’s Premium
The On-Site and Internet Buyer’s Premium options will appear exactly as described above.
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Important Reminder
- The On-Site Buyer’s Premium option only appears for webcast based auctions.
- It does not appear for timed auctions, since there are no onsite bidders.
You will still see the Internet Buyer’s Premium options for timed auctions. However, if “Charge on top of the On-Site Buyer’s Premium” is selected for a timed auction, no additional premium will be added beyond the Internet Buyer’s Premium.
Update: Paying Multiple Outstanding Invoices w/ 1 Payment Now Records Payment PER Invoice
When navigating to a bidder invoice and clicking the blue Payment button, you have the option to process payment for multiple outstanding invoices (if applicable).
Previously, while you could select multiple invoices, the payment records were not accurate. The system would apply the total amount of all selected outstanding invoices and display that full total as the payment amount on each invoice, which was incorrect.
This has now been fixed.
When processing payments for multiple outstanding invoices, the payment will now be correctly allocated to each individual invoice.
For example, in the scenario below, two outstanding invoices are selected:
- One for $53,745
- One for $5.56
The bidder is paying cash for both invoices. When you are brought to the New Payment modal after selecting the invoices, the Cash Received field will automatically total the combined amount of the two invoices. Once you click Create Payment, the system will correctly allocate the appropriate amount to each invoice, and both invoices will be settled and finalized.
In this example, if the bidder provides $53,750.56 in cash to cover both outstanding invoices, this will be reflected within the invoice. Under Method/Details, the system will display the total cash received ($53,750.56) used to pay the two selected invoices. However, the Total shown on the invoice will only reflect that invoice’s outstanding balance of $53,745. The amount displayed under Method/Details includes the payment applied to this invoice plus the amount from the other selected outstanding invoice ($5.56).
You can also view a more detailed breakdown by navigating to the Auction Payments Report of the applicable auction.
You will now see an “i” information icon next to the Amount column. The tooltip explains:
“This is the full amount of the payment transaction (including any surcharge fees) and may cover multiple invoices across multiple auctions. See the ‘Invoice’ column for the amount allocated to this auction only.”
For example:
- The Amount column will show $53,750.56, which is the total cash payment received for multiple invoices.
- The Invoice # / Amount column will show $53,745.00, which represents the specific invoice balance allocated to that auction.
Updated Knowledge Base Articles:
How to Add Video Links to a Particular Lot