Auction types

WebSphere Commerce supports open cry, sealed bid, and dutch auctions.

Open Cry auctions

In Open Cry auctions, all bids are available for public viewing; each participant knows the other bids submitted.

Sealed Bid auctions

Sealed Bid auctions allow participants to submit a bid that is seen only by the auction administrator. You set a submission deadline, and no bid received after that time is accepted. The bidder does not know the other bids submitted.

Dutch auctions

Dutch auctions do not require bidders to set the initial bid price. Instead, the user creating the auction announces a price and ask if any participants will accept it. Typically, the auction starts with a high bid price that is reduced over time until bidders have cleared the inventory.