Reverse Auctions (Vendor's view)

 

Vendors must be signed in in order to access any Live Auctions. 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 Live Auctions tab. 

Click on View Auction ()to access the auction view.

Your screen should look something like this:

If the auction has not yet opened, you will notice certain components, like the ability to submit a bid, are inactive. (see below)

Auctions_5.jpg

The Vendor's view will differ slightly depending on the auction type selected by the Buyer. (see Auction Types discussed in Setting up a Reverse Auction)

Across the top, you will get current stats that automatically refresh throughout the auction time. No need to refresh your browser. 

To make a bid, you simply input you dollar amount into the blue box. You will need to check off the commitment statement prior to clicking on Place Bid ()each time. 

You can also save time when bidding, by clicking on Take the Lead (). This will automatically input your bid as the next lowest bid (current lowest bid - established Bid Decrement Amount). 

*Selecting Take the Lead before any other bids have been placed will generate the amount that is the Bid Ceiling - Bid Decrement Amount. In the even 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.

If your bid amount is not accepted (too high, not within Bid Decrement Amount), an error message will appear. 

In an English Auction, Vendors will only see their own bids being charted. (see chart section of Vendor view screenshot above)

In all other auction types, depending on the auction set up, other bidders may be revealed or remain anonymous. 

Can Compare Bids: Visible vs. Anonymous

Vendors can leave the auction view at any time and return as long as the auction is still active. No current bids will be lost. 

Vendor Tip

Familiarize yourself with the auction details. If there is a time Extension Window, be sure to watch the time remaining in the Auction in the event that it is triggered by a late bidder. 

The countdown will be replaced with an "Auction has ended" message once the auction has ended. 

 

If you have any questions about the article above, please email Support@GoBonfire.com

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