How to set the minium duration of a Ranked or Open auction
What is the issue you're facing?
I need to setup the minimum duration of my auction. What is this for and how do I do this?
Solution
Once the Online Negotiation Event is underway this is the duration that you would like the Event to last as a minimum. If you choose to have the Dynamic Close option then the duration may extend beyond this minimum, depending on the whether the Dynamic Close is triggered.
We recommend a standard Minimum Event Duration of 30 minutes, as this generally gives all participants enough time. You may wish to run a longer Event if there are many Lots with a degree of complexity, or if you have participants that cover multiple time zones.
To setup the minium duration choose what you would like this to be from the Minimum Duration drop down.
Related Articles
How do I setup a Ranked or Open auction?
What's the issue you're facing? I would like to add a Ranked or Open auction to my event. How do I do this? Solution You will first need to follow the steps laid our here on how to create an event. How do I create an event? Then once you have added ...
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 ...
Auction "Do"s and "Don't"s
Auctions should always be run in a fair, open and organised fashion. This guide outlines the important factors you should have in mind whilst hosting your auction event and aims to provide you with the tools and knowledge you need to demonstrate ...
How can I see my rank in a Ranked Auction?
What's the issue you're facing? I am taking part in a ranked auction and need to see my rank. How can I see this? Solution In a ranked auction your ranking for the lot is displayed in one of two places depending on if the auction is using Simple or ...
How to set the currency of an RFQ or Auction
What is the issue you're facing? I am creating an RFQ and need to set the correct currency. How can I do this? Solution When creating your event create your RFQ or Auction as normal and you will see an option for the currency you would like your ...