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Siebel eAuction Guide > Reverse Auctions > Bidding Rules Used with a Reverse Auction >
Multiple-Quantity Auctions
General bidding rules for a multiple-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 a lister will accept for an auction item.
- The highest valid bid refers to the highest bid necessary to successfully win at least one item in a given auction.
- If some of the items in an auction have a winning bid, the highest valid bid defaults to the highest winning bid necessary to win at least one item in the auction.
- If no bids have been placed on an auction, a user's initial bid must at least match the auction's starting bid amount.
- If all items in the auction have a winning bid, the highest valid bid defaults to the highest winning bid minus the bid decrement.
In addition, the following rules apply to a winning bid in a multiple-quantity auction:
- Users must bid on at least the same number of items in the auction on which they have previously bid.
- If bidding on the same number of items, the bid value must be decreased.
- If bidding on a greater number of items, the bid value does not need to be decreased.
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Siebel eAuction Guide Published: 18 April 2003 |