Feature Auctions — How-tos & Workflows
Step-by-step guides for the most common Feature Auction workflows
Creating a Feature Auction
Any workspace member can create a Feature Auction. The creation flow has five steps.
Step 1: Auction Details
- Navigate to the Feature Auctions module.
- Click to create a new auction.
- Enter the following:
- Auction Name (required)
- Auction Description (optional — shown to buyers on the auction page)
- Start Date and Time (required)
- End Date and Time (required)
Step 2: Select Features
- Select the Features you want to include from your backlog. Only Features can be auction items.
Important: The Feature list is locked once the auction is created. You cannot add or remove Features after creation, so make sure your selection is final before proceeding.
Step 3: Set Pricing
- Set a price for each Feature. Prices represent relative weight — a higher-priced Feature costs buyers more of their budget to prioritize.
There are no fixed rules for pricing. A common approach is to price Features proportionally to their perceived complexity or strategic weight, so that buyers feel the tradeoff between big bets and smaller wins.
Step 4: Add Buyers
- Invite buyers by entering their email addresses.
- Assign each buyer a wallet amount. Different buyers can receive different amounts — use this to weight stakeholder input as needed.
Important: The buyer list is locked once the auction is created. You cannot add new buyers after the auction has started, so confirm your list before proceeding.
Step 5: Review and Create
- Review all details — Features, prices, buyers, and wallet amounts.
- Create the auction. Invitation emails are sent to all buyers automatically.
Managing an Active Auction
Once an auction is running, you manage it from the Auctioneer Dashboard.
Monitoring participation
The dashboard shows live results per Feature — total spend and quantity purchased — as well as a buyer participation summary showing who has and hasn't engaged. Use the manual refresh to pull the latest data.
Extending or shortening the auction
You can adjust the end date and time from the dashboard if you need more time for participation or want to close early.
Cancelling an auction
You can cancel an auction that's in progress from the dashboard. Use this if the auction needs to be restarted with different parameters.
Resending an invitation
If a buyer missed or lost their invitation email, you can resend the link directly from the dashboard.
The Buyer Experience
Buyers receive an email invitation with a unique link to the auction page. They do not need a Lodestone account.
On the auction page, buyers see:
- A grid of all available Features
- Their remaining wallet balance
Clicking a Feature opens a modal with more detail. If an Opportunity Canvas has been generated for that Feature, it is shown here — giving buyers context for what they're spending on.
Buyers can purchase multiple quantities of the same Feature, revise their purchases, and change their allocations at any time before the auction ends. Their wallet balance updates in real time as they spend.
Buyers only see their own activity — they cannot see other buyers' purchases or aggregate spend across the auction.
Buyers also receive a reminder email before the auction closes.
Interpreting and Sharing Results
When the auction ends, results are available in the Auctioneer Dashboard. Results show a ranked list of Features by:
- Total dollars spent — reflects how much overall budget was directed toward each Feature
- Quantity purchased — reflects how many buyers chose to spend on each Feature
Results are only visible to the auctioneer. To share them with buyers or other stakeholders, export the results as a CSV and distribute manually.
How to use the results
Auction results are a signal, not a decision. Common ways to use them:
- Surface surprises — are stakeholders prioritizing something you hadn't expected?
- Validate assumptions — does the auction confirm what your roadmap already reflects, or does it challenge it?
- Fuel a conversation — share the results in a roadmap review or strategy session to open up a discussion about priorities
- Inform planning — use the ranked output as one input alongside your own evaluation frameworks and strategic context
Reminder: Results do not automatically update any Feature, Roadmap, or Strategy in Lodestone. Any changes to your plans based on auction results are made manually.
Viewing Past Auctions
Completed auctions are saved and remain accessible after they end. You can return to any past auction to review results, export the CSV again, or reference the buyer participation summary.
Next: Advanced Features & Customization — wallet strategy, pricing approaches, and getting the most from auction design.