To submit bids for a Dutch auction.
Dutch auctions do not require bidders to set the initial bid price. Instead, the user creating the auction announces a price and asks if any participants will accept it. Usually, the auction starts with a high bid price that is reduced over time until bidders have cleared the inventory.
Every auction is governed by a set of rules that the bidder must read before participating. If auction rules change during an auction, bidders must reread the rules before submitting or updating bids. Bids submitted prior to a rule change are not affected and may still win the bidding. Shoppers can submit bids.
Winners are determined based upon the parameters in this order:
1. Bid submission time.
2. Bid quantity.
Unlike submitting bids for Open Cry and Sealed Bid auctions, bids submitted for a Dutch Auction change to Order Complete status before the auction is closed. If the bid is already in Order Complete status, withdrawing the Dutch auction will not result in withdrawing that bid.
A customer can submit a new bid but cannot modify or withdraw any existing bid.
Professional, Business, Express Edition
Task | Description | Role |
---|---|---|
Create bid |
Create the bid with the specified information such as the bid price, the desired quantity, their willingness to accept a partial quantity and billing, shipping information for the order. |
Registered Customer |
Update current quantity |
Update the current available quantity on the Dutch auction. |
System |
See all bids |
View the bids submitted by all participants in an auction. |
Registered Customer |
Assign winning bid(s) |
Winners are determined based upon the auction rules. |
System |
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