E-Live Auction

The E-Live auction takes place on the same web interface of the live auction. The big difference is that it does not implies the concomitance of a room auction, it is an electronic auction to which only web users participate.

Usually the e-live auction is preceded by an online auction run with the same system (more rarely can be preceded by an offer collection); in the typical scenario the pre-auction offers are already loaded in the system and in case of spending commitments higher than the current offers in case of new bids automatic system bids can be triggered.

All auction lots are opened and closed for bidding sequentially, one after the other, with enough time for the users to enter their bids; the proceeding is automatically driven by a specific application.

The lot status is identified by four colors:

  • Gray - lot not active - bidding not allowed
  • Green - open lot -  bidding allowed
  • Orange - closing lot -  bidding allowed
  • Red - closed lot -  bidding not allowed

If a new bid is entered when the lot is in the orange status the lot goes back to the green status, thus to give enough time to eventual counter-bids. The duration of the single states time is customizable.

Duration of the auction
The E-Live auction has a defined start date and time (division in sessions is also possible); the total duration is not determinable a priori as it depends on how much the individual lots are contended by the bidders, if a lot receive bids during its orange status it goes back to green status and the time it is open is therefore incremented.