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Bidding Examples — Dutch Auction

This example illustrates the bidding rules used when a multiple-quantity auction is auctioned with a Dutch bid type.

This auction is a multiple-quantity auction for 50 items, starting at 10:00 AM. The starting bid is set at $30, and the lowest the bid amount can go (minimum price) is $5. Every five minutes the price decreases by $5. The auction is not sealed.

The bidding for this auction is shown in the following tables ordered by first bid, second bid, third bid, and so on. The first part of Table 60 shows the user's bid; the second part of the table shows the result of that bid.

Table 60.  First Bid in the Multiple-Quantity Offer, DUT Bid Type Auction
User Placing Bid
Quantity Bid
Time Bid Placed
Mary
30
8/25/00 10:07:06 AM
Results after Bid
For User
Quantity Won
Bid Amount
Mary
30
25

Bid Summary: Mary is the first user to request items in this auction. Because Mary placed her request after the first five-minute window of the auction, the bid price has already decreased by $5 to $25. She immediately wins 30 items at $25 each.

Table 61 lists the results from the second bid in the auction.

Table 61.  Second Bid in the Multiple-Quantity Offer, DUT Bid Type Auction
User Placing Bid
Quantity Bid
Time Bid Placed
Don
10
8/25/00 10:10:38 AM
Results after Bid
For User
Quantity Won
Bid Amounts
Don
10
20
Mary
30
25

Bid Summary: Don requests 10 items in this auction after the second five-minute window (10 minutes) of the auction. He immediately wins 10 items at $20 each.

Table 62 lists the results from the second bid in the auction.

Table 62.  Third Bid in the Multiple-Quantity Offer, DUT Bid Type Auction
User Placing Bid
Quantity Bid
Time Bid Placed
Sarah
10
8/25/00 10:20:43 AM
Results after Bid
For User
Quantity Won
Bid Amounts
Sarah
10
10
Don
10
20
Mary
30
25

Bid Summary: Sarah requests the remaining ten items after the fourth five-minute window (20 minutes) of the auction. Her bid amount is $10. She immediately wins 10 items at $10 each.

Auction Summary: The auction closes, as all 50 items are sold. Mary wins 30 items at $25 each, Don wins 20 items at $10 each, and Sarah wins 10 items at $10 each.


 Siebel eAuction Guide 
 Published: 18 April 2003