Badge image url: We have set a default badge to distinguish auction products from other type of products when they appear in shop page. You can set your own badge image too with this configuration.
Show Auctions On: WooCommerce adds different pages inside WordPress setup. You can enable these settings to show auction products on those pages.
Shop Page: Show Scheduled and Expired Auction: This setting will display scheduled and expired auctions in Shop Page. If disabled, then only live auctions will be displayed.