The owner of the request can set up such setting for the auction:
Prolonging Time
Then the request will be prolonged itself and you will have the possibility to give a new best offer within the last timeframe that the buyer defines.
Show Ranking
It means you will be able to see your quotes in comparison to other quotes. You will not see which competitor and what conditions are of your quote. There are 4 ranks displayed
Show lowest/highest bid
In this case you will see the lowest bid (unit price) that has been given.
Show full ranking
If this function is switched on, then you will be able to see the full list of offer prices on tab “Rank”.
Minimum decrement/increment
In this case you need to decrease or increase your bid by defined minimum from the buyer side, otherwise you will not be able to quote. Decrement/increment will be counted in percentages or in currency according to the entered setting by the owner of the request.
For example, if a buyer sets up a decrement in % , you will be informed in which percentage to submit your next offer. (E.g. Buyer sets up minimum decrement 2%, you submit your first offer and when submitting for the second time you’ll find info with the suggested price considering your previous price from which 2% is deducted). The same procedure is with increment settings, just price should be increased.
Ceiling value/Floor price
This means that the buyer sets up ceiling quote or floor price per item and you are not allowed to quote higher or lower this entered value
For example, if buyer sets up ceiling value as "4 EUR", when submitting offer you need to give price <= 4 EUR. Or if buyer sets up floor price as "4 EUR", then you need to give price >= 4 EUR.
Dutch auction
In this functionality the buyer sets up “Starting price”, “End price” and “Price decrement/increment”. According to the set up intervals, the following price will decrease or increase. Buyer can set up the interval in Seconds, Minutes or Hours. With selected interval you will be able to define how fast the price is decreased (reverse auction) or increased (forward auction). Time remaining will inform you when the next interval will be available for quoting.
After clicking “Accept price” button, you will see a pop-up asking if you are sure or not. After accepting the price you will be redirect to next item automatically. Accepted price will be displayed as “Awarded”
The notification “The last interval started with the possibility to accept the pricing” means that according to the timing, you will be able to accept the price. If the time is up and you do not accept the price, you will be redirected to the next item
Stop & Go
Buyer sets the timer per item in minutes. You can “Submit offer” until time expired. If left time for the first item is 0, then you can't quote for this item any more. The countdown will be started for the second item.
Please watch the timer. At the end of the timer you can not add your offer. Also you will be able to start quoting for the next item if timer ends for prior product.
When any type of auction request is ended / awarded you will be able to find the request on Tab My Requests and use “Search field” or filter by statuses