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Event stages

  • Updated

Using the Event stages feature, you can configure different types of bidding phases in a single event. You can create both single-round and multi-round stages. Single-round stages are configured in the same way that rounds are — by setting the bidding start and end times. However, multi-round stages offer additional configurable settings for round duration, minimum rounds, and conditions under which bidding can close early.

For example, using the Event stages feature, you could create a stage that has a single round of bidding with a duration of one week, followed by a stage with a series of two-hour rounds that ends when there are fewer then two active bidders in the latest round.

Design_-_Schedule_-_Stage.png
Figure 1. Event stages example

You can select from a number of conditions to close a multi-round stage.

  • Number of rounds since last bid: End bidding if a number of rounds have been completed since any bidder has updated their bids. For example, if two rounds have been completed since the last new bid.
  • Minimum active bidders in round: End bidding if too few bidders update their bids. For example, if there are fewer than two active bidders in the latest round.
  • Minimum lots with reserve met: End bidding if the reserve has been met on sufficient lots. For example, after the reserve has been met on 200 lots.
  • Minimum lots with allocation changes: End bidding if there are too few allocation changes. For example, if fewer than two lots in the latest round have had a cost allocation change, an award allocation change, or a change in the percentage share of a lot.
  • Number of rounds since last lot allocation change: End bidding if a number of rounds have been completed since an allocation change. For example, after two rounds without a change in lot allocation cost, a change in who was awarded the lot, or a change in the percentage share of a lot.
  • Minimum change in total allocation cost: End bidding if the change in allocation cost is too small. For example, if the total allocation cost change is less than $2000.
  • Number of rounds since last allocation cost change: End bidding if a number of rounds have been completed since an allocation cost change. For example, after three rounds without a change in allocation cost.