Hello,
We recently started doing forward auctions, a powerful tool to sell-off units to interested buyers worldwide.
Forward auction were with 1 lot
Last week, we created a forward auction with 2 lots.
Each lot contained a list of units that we were selling.
Rules we used:
Preview: YES
Bidding begins and ends: PARALLEL
Must participants improve their bids: YES
Must participants bid on all items: NO
Show lead bid
Improve by nominal amount
|  |
Lot rules:
initial value:$25,000
limited range
range: $25,000 to blank
use initial value as: default
bid increment: $500.
upward bidding
In the preview the participants selected the lot(s) they wanted to bid on.
However, you had to select both lots to view the list of units in each lot.
If you only selected one lot, only that lot is presented with the list for that lot.
Participants who selected both lots to view both lists, found that during the auction, the app forced them to bid on both lots.
Even though in the Rule section we entered : Must participants bid on all items: NO
My questions:
Why was the participants forced to bid on both lots during the auction?
How would we be able to have the participants select all lots in the preview, but have them bid only on the lots they want to bid on, and not be forced to bid on all lots presented?
Any suggestions or tips on conducting forward auctions with multiple Lots?
Thank you
Dominic