Change Bid Rule

Use this page to specify bid amounts and quantities, as well as increments for bidding within specified ranges for Open Cry and Sealed Bid auctions.

Minimum Bid Amount
Type an amount representing the minimum that participants are allowed to bid.
Minimum Bid Quantity
Type a whole number representing the minimum quantity participants are allowed to bid on.
Value Range (for Open Cry auctions)
Type the lower and upper ends of the bid increment range. The new bid must be higher than the current bid by a certain increment when the bid falls into a value range. For example, consider the following bid value ranges:
  • $0-$100=$5
  • $101-$200=$10
  • $201-$1000000=$50

For the range $101-$200, the minimum bid increment is $10. If the current bid is $150, the new bid must be at least $160 ($150 plus the minimum range increment of $10). If the current bid is $220, the new bid must be $270 ($220 plus the minimum range increment of $50).

Value Increment (for Open Cry auctions)
Type the minimum increment between bids in the specified range.
Add (for Open Cry auctions)
Click to add a bid increment range.
Remove (for Open Cry auctions)
Click to remove a bid increment range.
General
Click to display general information about the bid rule.
Rule
Click to display this page.

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