There are two types of bidding methods available for
configuration: Queue and Preference.
- In a Queue auction the list of bidding candidates
is predefined using Rules. The candidates place their bids in some
order, such as seniority date or opportunity number. Each candidate
takes a turn to bid and win items available to them. The result
is a first-come, first-served basis, hence, the more qualified
bidders (those higher on the Queue) get first choice, and the least
qualified bidders choose from the remaining list of items. Generally,
any bidder can win an item that is available to them because Rules
control who and in what order people can participate (win).
Usually, there’s no waiting because bidders bid in some predefined
order; however, bid-times may be used to set a time limit for each
bidder and move quickly through the bidder’s list.
- In a Preference auction candidates bid on the desired
items simultaneously. Each candidate reviews all of the items available
for bidding and then ranks the most desired items. The number one
indicates the first choice, followed by the number two to indicate
the second choice and so on. After all of the bidders have indicated
their bid preferences, Rules are used to process all of the bids
and assign auction items. Bidders bid on an item and then wait until
either the auction is resolved to see who won what. Generally,
anyone can bid but the Rules decide who wins.
The majority of customers use a bidding process that more closely
resembles the Queue type auction.