Bookshelf v7.5: Placing Bids

Depending on the type of auction you are using, the way you bid will be slightly different. Table 66 covers the auction types you will encounter in Siebel eAuction.

Table 66. Auction Types
Auction Type	Description
English	The auction item goes to the bidder with the highest bid at the close of the auction. If multiple-quantity items are auctioned, all winning bidders pay their bid price. An English auction can also be a Sealed-bid auction (no bids other than your own are displayed).
Modified English	All winning bidders pay the lowest winning bid at the close of the auction (for auctions with multiple-quantity items). A Modified English auction can also be a Sealed-bid auction.
Reverse	The auction item goes to the bidder with the lowest bid at the close of the auction. If multiple-quantity items are auctioned, all winning bidders pay their bid price. A Reverse auction can also be a Sealed-bid auction.
Vickrey	The auction item goes to the bidder with the highest bid at the close of the auction, but the winner pays the highest losing bid (the runner-up bid). Vickrey is a Sealed-bid auction, and it can only have a quantity of one per auction.
Reverse Vickrey	The auction item goes to the bidder with the lowest bid at the close of the auction, the winner pays the lowest losing bid (the runner-up bid). Reverse Vickrey is a Sealed-bid auction, and it can only have a quantity of one item per auction.
Dutch	In a Dutch auction, the price drops or increases over time. When a bidder bids on an item at a particular price, the bidder wins the item as soon as the bid is placed. A Dutch auction cannot be a Sealed-bid auction

NOTE: To view the auction items you have won, click My Account. From the My Account screen, click My Orders. You cannot remove an auction from the My Orders screen. For more information about the My Account screen, see Siebel eSales Administration Guide.