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Siebel eAuction Guide > English and Modified English Auctions > Bidding Rules Used with an English Auction >
Single-Quantity Auctions
General bidding rules for a single-quantity English auction item are as follows:
- Winners are determined by ranking bids in order of highest price, then by earliest timestamp.
- Initially, the starting bid defaults to the minimum amount a lister will accept for an auction item.
- The lowest valid bid refers to the lowest bid necessary to successfully win a given auction item.
- If no bids have been placed on an auction item, a user's initial bid must at least match the auction item's starting bid amount.
- The bid value must be increased with each subsequent bid.
- The lowest valid bid defaults to the highest bid plus the bid increment.
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Siebel eAuction Guide Published: 18 April 2003 |