Siebel eAuction Guide > English and Modified English Auctions >

Bidding Rules Used with a Modified English Auction

An auction set up as a Modified English auction means that at the auction's close, all winners are assigned the price of the lowest winning bid. This type of auction is useful when the lister has a large quantity of identical items to sell and wishes to be fair to all winners by awarding each of them the same price at the close of the auction.

When a multiple-quantity auction closes, each winner is assigned the lowest winning bid (that has satisfied the lister's reserve price) and it is this bid amount that appears on the auction invoice.


 Siebel eAuction Guide 
 Published: 18 April 2003