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Siebel eAuction Guide > Reverse Auctions > Bidding Rules Used with a Reverse Auction >

Single-Quantity Auctions

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General bidding rules for a single-quantity auction in a Reverse auction are as follows:

Winners are determined by ranking bids in order of lowest price, and then by earliest timestamp.
Initially, the starting bid defaults to the maximum amount (starting price) a lister will accept for an auction item.
The highest valid bid refers to the highest bid necessary to successfully win a given auction item.
If no bids have been placed on an auction, a user's initial bid must at least match the auction item's starting bid amount.
The bid value must be decreased with each subsequent bid.
The highest valid bid defaults to the lowest bid minus the bid decrement.

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