Optimal Auctions Commodity Auctions - Finding a Price for the Hard-To-Price
The market has well established prices for commodities like gold and silver, but how do you properly price commodities that don't trade very often? How does a company determine the price to buy and the price to sell? The answer is commodity auctions. If you're trying to sell items that are tough to price like rare earth elements, diamonds, or minerals, an auction is the best way to bring together buyers and sellers under an industry-best set of rules, construct the demand curve properly through software driven means, and ensure that the commodities are traded at a true, efficient market-driven price. Our software will help you price the hard-to-price items you need to sell.
Optimal Auctions Commodity Auctions - Cheaper, Faster, Better-Tested - Guaranteed
Our Commodity Auctions are incredibly configurable, allowing us to meet any rules or regulations that you may have with your commodity auction. In fact, there are over 76 settings in our auction software, which means no matter the complexity or requirements of your commodity auction, you can feel assured that Optimal Auctions can deliver a software solution that will be cheaper, faster, and better-tested than any of our competitors. We guarantee it!
Our Software Makes Everything So Easy, Why Try to Create Your Own?
We would be incredibly happy to show you a demonstration of our software. We are confident that once you see how the software works, and how easily it controls every aspect of your auction, you will never go back to using an Excel spreadsheet. Our software takes care of everything you could imagine - exact timing of rounds, ensuring bids are received in time, ensuring bids adhere to eligility rules, and thousands of other things. Plus, it runs right in your browser, so anyone with a desktop, laptop, or even a smartphone can use our software. Your bidders can simply log on and bid - there's nothing to install!
Call Now For a Demo - 512-947-8273
We will be happy to talk with you about your auction software needs, and will help answer any questions you might have. We firmly believe that we provide the best software in the world for running a commodity auction. Our software is ready to go, and in most cases we can customize a solution and have it deployed for your auctions in a week. If you're selling items that are tough to sell, or to many buyers with vastly different demand curves, an Optimal Auction Commodity auction is the right choice for you.
How a Commodity Auction Works
A commodity auction is actually quite simple - you have a predetermined number of units of the commodity you wish to sell. For example, 220 pounds of yellow cake uranium, 400 tons of copper tubing, or 1,000 gem quality diamonds. Then you can decide on the format for the commodity auction - if you would prefer a quick and simple auction and are willing to trade off some revenue, then a Second Item Dutch auction format is ideal for you. On the other hand, if you don't mind a more complicated auction format and are willing to have an auction last a few hours, and would like to maximize your revenue, then a Clock auction is the ideal solution for your commodity auction.
Once the auction works, using either format, bidders place bids telling you how many units of the commodity they would like to buy (e.g. 10 pounds of yellow cake, or 25 diamonds) and at what price. Ultimately a market price is found - the price where demand from the bidders exactly equals the supply - the quantity of the commodity being sold.
If the auction process is so easy, why should you choose to hire Optimal Auctions instead of rolling your own? Because our auction software has been used for hundreds of auctions, ensuring that our software is bug free, and ensuring that you will be able to run your auction without issues. Plus, our auction design experts will recognize when your commodity auction will need a variation in the software, or a variation in the rules, to ensure you that you are running the most efficient auction and maximizing your revenue.