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Bidding Example — Modified English Auction

This auction is a multiple-quantity auction for 10 items. The minimum quantity of items on which the lister will accept a bid is one. The starting bid is set at $50, the bid increment is set at $10, the reserve price is $150, and the bid is not sealed.

Note how the following properties have been set in the S_SYS_PREF table:

Because the Modified English attribute is applied at the end of the auction, this example begins with the next to the last bid placed for this auction. Table 53 shows the status of the two current bidders, Mary and Dave:

Table 53. Previous Bids for the Ongoing Modified English Auction
For User
Current Bid Amount (Max Bid)
Quantity Bid
Quantity Won
Accept Partial Quantity
Mary
150 (160)
10
10
TRUE
Dave
150 (150)
5
0
TRUE

Table 54 lists the results from the next bid in the auction.

Table 54. Next Bid in an Ongoing Modified English Auction
User Placing Bid
Max Bid Amount
Quantity Bid
Accept Partial Quantity
Sarah
170
5
TRUE
Results after Bid
For User
Current Bid Amount (Max Bid)
Quantity Bid
Quantity Won
Sarah
170 (170)
5
5
Mary
160 (160)
10
5
Dave
150 (150)
5
0

Bid Summary: Sarah enters a Max Bid Amount of $170 for five items. Sarah wins her five items, while Mary's bid is raised from $150 to $160 for five items.

Table 55 lists the results from the final bid in the auction.

Table 55. Final Bid in the Modified English Auction
User Placing Bid
Max Bid Amount
Quantity Bid
Accept Partial Quantity
Dave
190
6
FALSE
Results after Bid
For User
Current Bid Amount (Max Bid)
Quantity Bid
Quantity Won
Dave
180 (190)
6
6
Sarah
170 (170)
5
4
Mary
160 (160)
5
0

Bid Summary: Dave enters a new Max Bid Amount of $190 for six items and notes that he will not accept partial quantities. His bid beats Sarah's maximum bid amount of $170. Sarah's bid is raised as a result of Dave's new bid of $190, and she is now winning four items instead of five. Mary is no longer winning any items.

Auction Results Summary: At the end of this auction, Sarah has the lowest winning bid ($170) that satisfies the reserve price. She and Dave pay $170 per item.


 Siebel eAuction Guide 
 Published: 18 April 2003