"Seamless and Seasoned Expert Auction Implementation"

"Optimal Auctions is tops when it comes to documentation." - Greg Ousley, Ousley Financial Group, LLC

Bidder Friendly Rules

The bidder friendly rules facilitate an intuitive understanding of the rules by replacing legal jargon with clear language. The official auction rules are technical documents which are often quite dense with legal restrictions. As is often with legal documents, they often sacrifice clarity and usability for accuracy and completeness. The bidder friendly rules help bidders focus on important rules without highlighting rules that are rarely applied or extremely technical. Examples of the basic bidding scenarios and some of the more complicated but likely scenarios and an explanation of what the bidder should expect are features that aid bidders in understanding the operation of the auction rules.

Bidder Information Sessions

A bidder information session or workshop is typically held prior to any bidder commitment and entails an overview of the products and rules, the distribution of detailed rules, description of the process, a tour of the auction web site, a time line, and contact information. We highlight critical differences between the proposed auction and previous transaction methods. We also make experts on the rules and the industry available for questions. Bidders are also given an opportunity to ask questions about the process.

Bidder Information Packets

When bidders register for an auction, they receive an overview of the auction and the Bidder Participation Manual.

Auction Questions

Auctions are a new process in many industries and potential or actual participants often have questions. The promotional team will clarify the auction process to interested bidders and other stakeholders.

Frequently Asked Questions (FAQs)

FAQs posted on a website are an inexpensive way to pre-answer bidder questions. Based on experience, there are a number of standard questions that can be answered on the event specific website. The benefit is a reduction in time spent by experience and expensive personnel.

Bidder Training/Mock Auction Solutions

Auction software training also will be provided to ensure that bidders are comfortable with the software and the rules. Mock auction(s) will be held approximately 2-3 days before the beginning of the auction for the purpose of bidder training in the procedures and in the software.