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"Powering Expert Auctions"
The OptimalCommerceTM Software application supports all of the important features necessary for administrators to run an expert auction and for bidders to participate in an auction. A brief summary follows.
All Bids
In this section, Auction Administrators have access to real time bid submissions by bidder or product, bidder requests, and summary statistics. This information is not available to bidders.
Schedule
This section contains the up-to-date event schedule and the tools for the Auction Administrator to manage that schedule.
Bid Entry
In this section, bidders can enter their bids and receive confirmation of their bids.
Reporting
For reports and analysis OptimalCommerceTM allows you to rapidly build and alter report definitions for your specialized use. The following are examples of the types of reports we provide:
- Trends and outliers in spending on individual items, groups and total spending both in time series and cross section.
- What bidders won by item and type.
- Summary statistics about total outlay.
- Outlay by category.
- Breakdown of bidding by the number of bidders.
- Deviations from expected price.
- Auction prices relative to trade indexes.
We also can limit the data shown to bidders and to third parties if necessary and this is usually specified when the reports are configured. New reports can be created based on the auction rules or client requirements.
Bidding Rules
Prior to the auction being scheduled, this section contains all of the available rules and parameters by event type. After the auction begins, this is a summary of the auction rules and parameters as implemented.
For bidders, this information is limited to only the rules that were implemented and they can be further limited to a subset of those rules.
Products
Administrators are able to add and modify lots prior to the start of the auction and to view the lots after the auction starts.
Bidders are able to view the lots after the auction stars and their access can be limited to a subset of the information if necessary.
User Profile(s)
Administrators can modify all profiles and bidders can see and modify only their own profile and information.
Messages
All users may send and receive secure mail through the OptimalCommerceTM platform. Bidders may only email the Administrator. Through system messaging we provide information about the bidder's actions. These include descriptive error messages, iconography, color-coded information, and suggestive and informative comments.
Requests
In this section of the software, bidders may make bidding round extension or recess requests if permitted by the rules.
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