Articles in this section

Reverse Auctions

This article contains:

Getting Started

To access Auctions, you must be logged in. If there are any pending or live auctions as part of an opportunity you have completed a submission for, they will be listed in the Auctions tab.

Auctions tab displaying list of pending and live auctions available to the user

Click on View Auction to access the auction view:

Full auction view interface with bid submission form and live auction statistics displayed

Auction Status and Schedule

If the auction has not yet opened, you will notice that certain components (such as the ability to submit a bid) will be inactive. The auction schedule appears in the Details tab, where you will see a countdown under Auction Starts In…

Details tab showing auction schedule with countdown timer displaying time until Auction Starts In

Note

Your view will differ slightly depending on the auction type selected by your organization. Current stats display across the top and refresh automatically throughout the auction—no need to refresh your browser.

Placing a Bid

To make a bid, input your dollar amount into the Enter a New Bid field. You will need to check off the commitment statement before clicking Place Bid each time.

You can save time by clicking Take the Lead. This will automatically input your bid as the next lowest bid (the current lowest bid minus the established Bid Decrement Amount).

Important

Selecting Take the Lead before any other bids have been placed will generate the amount that is the Bid Ceiling minus the Bid Decrement Amount. If there is no Bid Ceiling, the generated bid will be $99,999,999.99.

Your new bid will be mapped in the chart to the right of the screen.

Bid confirmation notification with visual chart showing newly placed bid and bidding trends

Caution

If your bid amount is not accepted (too high or not within the Bid Decrement Amount), you will not be able to place the bid.

Viewing Other Bids

In an English Auction, you will only see your own bids charted. In all other auction types, depending on the auction setup, other bidders may be revealed or remain anonymous.

You can leave the auction view at any time and return as long as the auction is still active. Your current bids will not be lost.

Extension Windows and Auction Endings

Familiarize yourself with the auction details, especially if there is an Extension Window and Extension Amount. Watch the time remaining in the event that a late bidder triggers the Extension Window and the auction gets extended by the Extension Amount.

The organization running the auction can cut off extensions. If this occurs, a blue pop-up will appear in the bottom right corner advising "The Extension Window has changed! This Auction can no longer be extended".

Blue notification pop-up confirming that the extension window has been cut off and auction can no longer extend

When extensions are cut off, the auction will no longer extend if bids come in during the Extension Window. Both the Extension Window and Extension Amount will adjust to 0 minutes in the auction details.

Once the auction ends, the countdown will be replaced with an "Auction has ended" message.

Auction interface in final state displaying Auction has ended message and inactive bidding controls

Was this article helpful?
0 out of 0 found this helpful