Bookshelf Home | Contents | Index | Search | PDF

Siebel eAuction Guide > Reverse Auctions > Bidding Rules Used with a Reverse Auction >

Multiple-Quantity Auctions

---

General bidding rules for a multiple-quantity auction in a Reverse auction are as follows:

Winners are determined by ranking bids in order of lowest price, and then by earliest timestamp.
Initially, the starting bid defaults to the maximum amount a lister will accept for an auction item.
The highest valid bid refers to the highest bid necessary to successfully win at least one item in a given auction.
If some of the items in an auction have a winning bid, the highest valid bid defaults to the highest winning bid necessary to win at least one item in the auction.
If no bids have been placed on an auction, a user's initial bid must at least match the auction's starting bid amount.
If all items in the auction have a winning bid, the highest valid bid defaults to the highest winning bid minus the bid decrement.

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 on which they have previously bid.
If bidding on the same number of items, the bid value must be decreased.
If bidding on a greater number of items, the bid value does not need to be decreased.

Bookshelf Home | Contents | Index | Search | PDF