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.