Interbid Auction System Requirements

Multiple Items

As a single lot
When a number of items are listed as part of the description of the lot, the lot consists of all the items. For example if the catalogue read

   45            Qty 6 30GB Hard Drives

then lot 45 consists of the six hard drives as a single lot and the winner of the lot will get all six drives for the price of their winning bid.

As a multiple item lot
When the number of items in the lot is shown seperatly then all bids are based on the value of a single item. For example if the catalogue read

   45     6     30GB Hard Drives.

then the six hard driives will be sold separately. Once the bidding stops, the winning bidder will be offered an option to take as many as they want at that price and any they do not take will be offered to other bidders at the same price. This is called offering the lot with the option.

As a group of lots
Often there will be several identical items offered in successive lots such as

   45           30GB Hard Drives.
   46           30GB Hard Drives.
   47           30GB Hard Drives.

When the bidding starts for the first lot the auctioneer will say if the group of items will be offered indivually one after the other or grouped together and offered with the option. The Interbid system will generally spot a group of identical item lots. If you go to the first of such a group to place an advance bid limit you will be able to specify the number of lots you want. Then if you win the first lot and the lots are offered with the option you will get the number of lots you requested. If the lots are not offered with the option then the system will bid for you on each lot in turn until your bid limit is exceeded or you get the number of lots you requested.

Bidding on the option
When a group of items are offered with the option, net bidders need to set the number of items they require when they bid. If the bidding increases to a point where you are not interested in the full amount specified, you can reduce the quantity or enter a new limit for a lesser quantity. Once the bidding stops if the winning bidder does not take them all, bidders including Internet bidders have a chance to request some or all of the remaining items at the winning price. In the following example the winning bid was $200 and now Internet bidders can set the field under the "Number of lots" label to the number of items they require and click the "Submit Bid Limit" to request that many items.