How do I submit bids in an auction (Open, Ranked or Japanese)?
What's the issue you're facing?
I have been invited to an Open, Ranked or Japanese auction event and would like to submit my bids. How can I do this?
Solution
Bidding in an Open auction
In an Open Event type, the winning bid per Lot ('Lead Bid') is displayed for all participants, and all participants can only submit a bid that betters the Lead Bid. In essence this is much the same as your traditional auction house selling antiques, such as Sotherby's
You can compare 'Your Bid per UoM' in the column to the left to this Lead Bid in order to see whether you are the current leader for any given Lot.
Simple Lots
- To enter your bid click on the Enter Bids button next to the lot you wish to bid on.
- Enter your bid in the highlighted cell and then click on the Submit button.
- You will then be asked to confirm your bid. If you are happy with your bid click on Submit.
- Once submitted your bid will look like this and will show your bid per UoM, the total lot value of the bid and what the current leading bid is.
- To bid again click on the Enter bid button and repeat the steps above.
- Note that if your bid is outside of the price range that the host is expecting you will see this error and you will be unable to submit your bid. If you see this error you will need to adjust your bid and submit again.
Advanced Lots
- To start entering a bid on a lot click on the Enter Bid button.
- The lot will then open up to allow you to enter your bids and will look something like this.
- If the event is not using partial bidding then you will need to ensure that every cell has an entry in it.
- If the event is using partial bidding you will need to ensure that every cell on each line item that you wish to bid on has an entry in it.
- Once all necessary cells have been filled in you'll be asked if you would like to submit. If you're happy click on the Submit button.
- If you choose not to submit at this time you can X out of this and then will be able to submit your bid for the lot by pressing the Submit button when you are ready.
- Note that if this button is greyed out it means there are still cells that require entries to be able to submit.
- In the example below thie highlighted cell is still blank, but to be able to submit all cells must be filled in. Once this cell is filled in the Submit button will then be clickable.
- Once submitted you will be able to see your bid displayed as below. To bid again click on the Enter Bid button and repeat this process.
Bidding in a Ranked auction
In a ranked auction participants see their position per Lot relative to the other participants. Generally this is the most popular auction type as it works for the majority of situations.
- In a Ranked Auction you bid in exactly the same way as you do in an Open auction, however once you have placed your bid you will be able to see your bid ranking.
Simple Lots
- Once you have placed your bid you will then be able to see the bid you placed as well as your ranking for that lot.
- If you are outbid on a lot your rank for that lot will automatically update.
Advanced Lots
- In an Advanced Lot your rank is diplayed at the top of the lot and on any relevant lot or line item total.
- If you are outbid on a lot your rank will automatically update.
Bidding in a Japanese auction
In a Japense auction a Bid Level, which begins at the Qualification Price, per Lot is shown to the participants. The participant must either Accept or Decline the Bid Level within a set time period, e.g. two minutes. Once accepted and the time expires, the price drops (if reverse auction) or increases (if forward auction) by a specified amount and the participant must repeat the process. It continues in this fashion until the participant declines the Bid Level or is timed out.
- To accept the current bid click on the Accept button.
- Then click on Submit to confirm
- Once accepted you should see a bid Placed message appear in the lot.
- In the top right corner there will be a countdown to the next round. Once this timer has expired a new round will start and you will need to choose whether or not to accept the new bid.
- If you accept the new bid click the Accept button as above.
- If you do not click on Decline and you will then not be taken to the next round.
- If you do not choose to Accept or Decline and the round timer runs out you will also not be taken through to the next round.
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