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Siebel eAuction Guide > English and Modified English Auctions > Bidding Rules Used with an English Auction >
Multiple-Quantity Auctions
General bidding rules for a multiple-quantity English auction 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 at least one item in a given auction item.
- If some of the items in an auction item have a winning bid, the lowest valid bid defaults to the lowest winning bid necessary to win at least one item in the auction.
- 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.
- If all items in the auction have a winning bid, the lowest valid bid defaults to the lowest winning bid plus the bid increment.
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 item on which they have previously bid.
- If bidding on the same number of items, the bid value must be increased.
- If bidding on a greater number of items, the bid value does not need to be increased.
NOTE: For examples of single-quantity and multiple-quantity English auctions, see Bidding Examples — Bid Timestamp Option, along with other bidding scenarios in that chapter.
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Siebel eAuction Guide Published: 18 April 2003 |