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Bidding Examples — Dutch Auction
This example illustrates the bidding rules used when a multiple-quantity auction is auctioned with a Dutch bid type.
This auction is a multiple-quantity auction for 50 items, starting at 10:00 AM. The starting bid is set at $30, and the lowest the bid amount can go (minimum price) is $5. Every five minutes the price decreases by $5. The auction 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 60 shows the user's bid; the second part of the table shows the result of that bid.
Bid Summary: Mary is the first user to request items in this auction. Because Mary placed her request after the first five-minute window of the auction, the bid price has already decreased by $5 to $25. She immediately wins 30 items at $25 each.
Table 61 lists the results from the second bid in the auction.
Bid Summary: Don requests 10 items in this auction after the second five-minute window (10 minutes) of the auction. He immediately wins 10 items at $20 each.
Table 62 lists the results from the second bid in the auction.
Bid Summary: Sarah requests the remaining ten items after the fourth five-minute window (20 minutes) of the auction. Her bid amount is $10. She immediately wins 10 items at $10 each.
Auction Summary: The auction closes, as all 50 items are sold. Mary wins 30 items at $25 each, Don wins 20 items at $10 each, and Sarah wins 10 items at $10 each.
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Siebel eAuction Guide Published: 18 April 2003 |