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Bidding Scenario for Bid Timestamp Option 1

This example illustrates the bidding rules used when a multiple-quantity auction is auctioned with an English bid type using tie-break option 1 (TS01). In this example, several bidders have chosen to accept less than the full quantity requested in their bids if the full quantity is not available.

For this scenario, the following System Preferences have been set:

This auction is a multiple-quantity auction for two items. The minimum quantity of items on which the lister will accept a bid is one. The starting bid is set at $1, the bid increment is set at $1, and the bid 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 13 shows the user's bid; the second part of the table shows the result of that bid.

Table 13. First Bid in the Multiple-Quantity English Auction with TSO1
User Placing Bid
Max Bid Amount
Quantity Bid
Accept Partial Quantity
Mary
10
1
TRUE
Results after Bid
For User
Current Bid Amount (Max Bid)
Quantity Bid
Quantity Won
Mary
1 (10)
1
1

Bid Summary: Mary is the first bidder in the auction. She enters a Max Bid Amount (AutoBid) for $10 and selects only one item. Her current bid is set to $1, the opening bid amount. Mary is currently winning one of the two items.

Table 14 lists the results from the second bid in the auction.

Table 14. Second Bid in the Multiple-Quantity English Auction with TSO1
User Placing Bid
Max Bid Amount
Quantity Bid
Accept Partial Quantity
Don
20
2
TRUE
Results after Bid
For User
Current Bid Amount (Max Bid)
Quantity Bid
Quantity Won
Don
11 (20)
2
2
Mary
10 (10)
1
0

Bid Summary: Mary is outbid by Don's $20 Max Bid Amount for two items. Her bid is raised to $10 (her Max Bid Amount), and Don's bid is set to $11 (the minimum bid amount that will beat Mary's Max Bid). Don is currently winning both items.

Table 15 lists the results from the third bid in the auction.

Table 15. Third Bid in the Multiple-Quantity English Auction with TSO1
User Placing Bid
Max Bid Amount
Quantity Bid
Accept Partial Quantity
Mary
20
1
TRUE
Message when bid placed:

Bid of 20 was beaten by a larger AutoBid.

Results after Bid:
For User
Current Bid Amount (Max Bid)
Quantity Bid
Quantity Won
Don
20 (20)
2
2
Mary
20 (20)
1
0

Bid Summary: Mary changes her Max Bid Amount to $20 for one item. Because Timestamp Option 1 is used, and Mary's bid is not currently a winning bid, her second bid does not retain the timestamp of her prior bid. She is not able to win her requested quantity by matching Don's bid, which is automatically raised to $20. Mary's bid is set at $20, however, and is labeled as a losing bid. Don is still winning both items.

Table 16 lists the results from the fourth bid in the auction.

Table 16. Fourth Bid in the Multiple-Quantity English Auction with TSO1
User Placing Bid
Max Bid Amount
Quantity Bid
Accept Partial Quantity
Sarah
25
2
TRUE
Results after Bid
For User
Current Bid Amount (Max Bid)
Quantity Bid
Quantity Won
Sarah
21 (25)
2
2
Don
20 (20)
2
0
Mary
20 (20)
1
0

Bid Summary: Sarah, a new bidder, enters a Max Bid of $25 for both items in the auction. She is now winning both items at a bid price of $21.

Table 17 lists the results from the fifth bid in the auction.

Table 17. Fifth Bid in the Multiple-Quantity English Auction with TSO1
User Placing Bid
Max Bid Amount
Quantity Bid
Accept Partial Quantity
Don
30
1
TRUE
Results after Bid
For User
Current Bid Amount (Max Bid)
Quantity Bid
Quantity Won
Don
26 (30)
1
1
Sarah
25 (25)
2
1
Mary
20 (20)
1
0

Bid Summary: Don enters a new Max Bid of $30 for one item and wins that item for $26. Sarah is still winning one item at $25.

Table 18 lists the results from the sixth bid in the auction.

Table 18. Sixth Bid in the Multiple-Quantity English Auction with TSO1
User Placing Bid
Max Bid Amount
Quantity Bid
Accept Partial Quantity
Sarah
30
2
TRUE
Results after Bid
For User
Current Bid Amount (Max Bid)
Quantity Bid
Quantity Won
Sarah
30 (30)
2
2
Don
30 (30)
1
0
Mary
20 (20)
1
0

Bid Summary: Sarah enters a $30 Max Bid for both items in the auction. Because she had the prior winning bid, her bid retains its earlier timestamp, and she wins both items by matching Don's $30 Maximum Bid.

Auction Results Summary: At the end of the auction, Sarah wins both items in the auction at a price of $30.


 Siebel eAuction Guide 
 Published: 18 April 2003