Siebel eAuction Guide > Managing Third-Party Auctions > Creating a New Auction >

Adding Auction Parameters

On the next Wizard screen, you define the parameters of your auction, including the price and quantity of the item.

NOTE:  If you are creating a Dutch auction, see Adding Auction Parameters (Dutch Auction). If you are creating a Vickrey auction, see Adding Auction Parameters (Vickrey Auction).

To add auction parameters

  1. Complete the following fields on the Create Auction wizard screen.

    2. Field
    Description
    Currency
    Click the icon to select the currency used for the auction.
    Start Price
    The initial bid amount.
    Reserve Price
    The minimum winning bid you will accept for the item. Auctions that do not receive any bids at or above this price will produce no winner for the item.
    Bid Increment
    The minimum increase required for each new winning bid. Subsequent bids must beat the previous high bid by at least this amount.
    For a Reverse auction, this field is actually a bid decrement, though it is still labeled Bid Increment.
    Total Quantity
    The quantity of the product that is for sale.
    Sealed-bid
    Click the box to hide bids from competing bidders.
    Min. Bid Quantity Accepted
    The smallest quantity you will accept for a single bid if you are selling more than one auction item.

    NOTE:  Because the reserve price is not disclosed to the end user, a successful bid shows up with a status of Winning and a positive Quantity Won. However, unless the reserve price is met, there is no order created.

  2. Click Next.

 Siebel eAuction Guide 
 Published: 18 April 2003