Bookshelf Home | Contents | Index | Search | PDF |
Siebel eAuction Guide > Auction Properties > Bidding Examples — Bid Timestamp Option >
Bidding Scenario for Bid Timestamp Option 1
This example illustrates the bidding rules used when a multiple-quantity auction is auctioned with an English bid type using tie-break option 1 (TS01). In this example, several bidders have chosen to accept less than the full quantity requested in their bids if the full quantity is not available.
For this scenario, the following System Preferences have been set:
eAuc:BidTimeTieBreakOption
= 1eAuc:AutobidToReservePrice =
TRUEeAuc:EnforceExactBidIncrement
= TRUEeAuc:AllowTimeStampAdvantage
= TRUEThis auction is a multiple-quantity auction for two items. The minimum quantity of items on which the lister will accept a bid is one. The starting bid is set at $1, the bid increment is set at $1, and the bid 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 13 shows the user's bid; the second part of the table shows the result of that bid.
Bid Summary: Mary is the first bidder in the auction. She enters a Max Bid Amount (AutoBid) for $10 and selects only one item. Her current bid is set to $1, the opening bid amount. Mary is currently winning one of the two items.
Table 14 lists the results from the second bid in the auction.
Bid Summary: Mary is outbid by Don's $20 Max Bid Amount for two items. Her bid is raised to $10 (her Max Bid Amount), and Don's bid is set to $11 (the minimum bid amount that will beat Mary's Max Bid). Don is currently winning both items.
Table 15 lists the results from the third bid in the auction.
Bid Summary: Mary changes her Max Bid Amount to $20 for one item. Because Timestamp Option 1 is used, and Mary's bid is not currently a winning bid, her second bid does not retain the timestamp of her prior bid. She is not able to win her requested quantity by matching Don's bid, which is automatically raised to $20. Mary's bid is set at $20, however, and is labeled as a losing bid. Don is still winning both items.
Table 16 lists the results from the fourth bid in the auction.
Bid Summary: Sarah, a new bidder, enters a Max Bid of $25 for both items in the auction. She is now winning both items at a bid price of $21.
Table 17 lists the results from the fifth bid in the auction.
Bid Summary: Don enters a new Max Bid of $30 for one item and wins that item for $26. Sarah is still winning one item at $25.
Table 18 lists the results from the sixth bid in the auction.
Bid Summary: Sarah enters a $30 Max Bid for both items in the auction. Because she had the prior winning bid, her bid retains its earlier timestamp, and she wins both items by matching Don's $30 Maximum Bid.
Auction Results Summary: At the end of the auction, Sarah wins both items in the auction at a price of $30.
Bookshelf Home | Contents | Index | Search | PDF |
Siebel eAuction Guide Published: 18 April 2003 |