{"id":2321,"date":"2023-06-02T17:11:02","date_gmt":"2023-06-02T14:11:02","guid":{"rendered":"https:\/\/cosmoone.socialadvisor.gr\/applications\/e-auctions\/auction-types\/"},"modified":"2024-10-31T15:10:56","modified_gmt":"2024-10-31T12:10:56","slug":"auction-types","status":"publish","type":"page","link":"https:\/\/www.cosmo-one.gr\/en\/applications\/e-auctions\/auction-types\/","title":{"rendered":"Auction Types"},"content":{"rendered":"

[et_pb_section fb_built=”1″ module_class=”page-top-header-section” _builder_version=”4.21.0″ _module_preset=”default” use_background_color_gradient=”on” background_color_gradient_direction=”90deg” background_color_gradient_stops=”#ffffff 10%|rgba(0,0,0,0) 70%” background_color_gradient_overlays_image=”on” background_image=”https:\/\/www.cosmo-one.gr\/wp-content\/uploads\/2023\/10\/eidi-dimoprasiwn.jpg” background_size=”custom” background_image_width=”76%” background_position=”center_right” custom_padding=”200px||200px||true|false” global_colors_info=”{}”][et_pb_row _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_post_title meta=”off” featured_image=”off” _builder_version=”4.21.0″ _module_preset=”default” title_font=”|700|||||||” title_text_align=”left” title_text_color=”gcid-7c20a8c8-2b56-4ca5-b656-f0a2c8868597″ title_font_size=”32px” global_module=”72″ saved_tabs=”all” locked=”off” global_colors_info=”{%22gcid-7c20a8c8-2b56-4ca5-b656-f0a2c8868597%22:%91%22title_text_color%22%93}”][\/et_pb_post_title][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_row disabled_on=”on|on|on” _builder_version=”4.21.0″ _module_preset=”default” disabled=”on” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.21.0″ _module_preset=”default” header_font=”|700|||||||” header_text_align=”center” header_text_color=”gcid-7c20a8c8-2b56-4ca5-b656-f0a2c8868597″ header_font_size=”32px” global_colors_info=”{%22gcid-7c20a8c8-2b56-4ca5-b656-f0a2c8868597%22:%91%22header_text_color%22%93}”]<\/p>\n

Auction Types<\/span><\/h1>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row module_class=”auction-row” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ module_class=”auction-tab-wrap” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text module_id=”eng-auction” module_class=”auction-tab” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n

English Auction<\/p>\n

[\/et_pb_text][et_pb_text module_id=”bidding” module_class=”auction-tab” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n

MVB Multi Variable Bidding Auction<\/p>\n

[\/et_pb_text][et_pb_text module_id=”npv” module_class=”auction-tab” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n

NPV \u2013 Net Present Value Auction<\/p>\n

[\/et_pb_text][et_pb_text module_id=”weighted” module_class=”auction-tab” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n

Weighted Auction<\/p>\n

[\/et_pb_text][et_pb_text admin_label=”dummy” module_class=”dummy-text” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_text][et_pb_text module_id=”comparative” module_class=”auction-tab” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n

Comparative Auction<\/p>\n

[\/et_pb_text][et_pb_text module_id=”dynamic” module_class=”auction-tab” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n

Dynamic Auction<\/p>\n

[\/et_pb_text][et_pb_text module_id=”yankee” module_class=”auction-tab” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n

Yankee Auction<\/p>\n

[\/et_pb_text][et_pb_text admin_label=”dummy” module_class=”dummy-text” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_text][et_pb_text admin_label=”dummy” module_class=”dummy-text” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_text][et_pb_text module_id=”dutch” module_class=”auction-tab” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n

Dutch Auction<\/p>\n

[\/et_pb_text][et_pb_text admin_label=”dummy” module_class=”dummy-text” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_text][et_pb_icon font_icon=”||fa||900″ module_class=”scroll-right scroll-arrow” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_icon][et_pb_icon font_icon=”||fa||900″ module_class=”scroll-left scroll-arrow” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_icon][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ use_custom_gutter=”on” gutter_width=”2″ module_class=”auction-content eng-auction” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_video src=”https:\/\/youtu.be\/kb6mS5SJHQc” _builder_version=”4.24.0″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][\/et_pb_video][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text module_class=”row-subtitle” _builder_version=”4.21.0″ _module_preset=”default” locked=”off” global_colors_info=”{}”]<\/p>\n

English Auction<\/h3>\n

[\/et_pb_text][et_pb_text _builder_version=”4.21.0″ _module_preset=”default” text_font_size=”16px” locked=”off” global_colors_info=”{}”]<\/p>\n

The English auction is the most common type of auction as, in most cases, price plays the primary role. In cases where companies prefer pass-or-fail procedures for technical evaluation and drive candidate suppliers to compete with a sole ultimate evaluation criterion: the price.<\/p>\n

This way, evaluation criteria such as delivery time, quality of technical features, after-sales service etc., which are required and non-negotiable, are evaluated before the financial offer is submitted, whereas the price remains the ultimate evaluation criterion.<\/p>\n

[\/et_pb_text][et_pb_button button_url=”https:\/\/www.cosmo-one.gr\/en\/demo-request\/” button_text=”Demo Request” _builder_version=”4.21.0″ _module_preset=”default” locked=”off” global_colors_info=”{}”][\/et_pb_button][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ module_class=”auction-content bidding” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_video src=”https:\/\/youtu.be\/jBl8PvTj0jE” _builder_version=”4.24.0″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][\/et_pb_video][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text module_class=”row-subtitle” _builder_version=”4.21.0″ _module_preset=”default” locked=”off” global_colors_info=”{}”]<\/p>\n

MVB Multi Variable Bidding Auction<\/h3>\n

[\/et_pb_text][et_pb_text _builder_version=”4.21.0″ _module_preset=”default” text_font_size=”16px” locked=”off” global_colors_info=”{}”]<\/p>\n

In many auctions, the comparison criterion is a the best total price that results from combining miscellaneous factors of differing importance. This total price has to effectively express the best value for money, within the framework set by the organizer.<\/p>\n

Usually, this relation is quantified by a mathematical formula set by the organizer. The e-Auction type that implements it is called Multi-Variable Bidding (MVB) Auction.<\/p>\n

[\/et_pb_text][et_pb_button button_url=”https:\/\/www.cosmo-one.gr\/en\/demo-request\/” button_text=”Demo Request” _builder_version=”4.21.0″ _module_preset=”default” locked=”off” global_colors_info=”{}”][\/et_pb_button][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ use_custom_gutter=”on” gutter_width=”2″ module_class=”auction-content npv” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_video src=”https:\/\/youtu.be\/uCCMrMrR2yc” _builder_version=”4.24.0″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][\/et_pb_video][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text module_class=”row-subtitle” _builder_version=”4.21.0″ _module_preset=”default” locked=”off” global_colors_info=”{}”]<\/p>\n

NPV \u2013 Net Present Value Auction<\/h3>\n

[\/et_pb_text][et_pb_text _builder_version=”4.21.0″ _module_preset=”default” text_font_size=”16px” locked=”off” global_colors_info=”{}”]<\/p>\n

In a number of auctions, apart from the purchase price, the total price is influenced by two more factors:<\/p>\n

    \n
  1. the current maintenance and usage costs of the procured goods<\/li>\n
  2. the payment method of the individual costs, both for the purchase and for the current usage costs of the goods.<\/li>\n<\/ol>\n

    It is obviously pointless for the organizer to go forward with procurement relying only on low prices and not taking future expenses into account.<\/p>\n

    It is also obvious that the organizer\u2019s maximum and minimum annual cash flow can be a restriction, if not the main criterion when choosing a bidder.<\/p>\n

    [\/et_pb_text][et_pb_button button_url=”https:\/\/www.cosmo-one.gr\/en\/demo-request\/” button_text=”Demo Request” _builder_version=”4.21.0″ _module_preset=”default” locked=”off” global_colors_info=”{}”][\/et_pb_button][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ module_class=”auction-content weighted” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_video src=”https:\/\/youtu.be\/fcEivw6TKkM” _builder_version=”4.24.0″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][\/et_pb_video][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text module_class=”row-subtitle” _builder_version=”4.21.0″ _module_preset=”default” locked=”off” global_colors_info=”{}”]<\/p>\n

    Weighted Auction<\/h3>\n

    [\/et_pb_text][et_pb_text _builder_version=”4.21.0″ _module_preset=”default” text_font_size=”16px” locked=”off” global_colors_info=”{}”]<\/p>\n

    Price-weighing<\/b><\/p>\n

    The weighted auction brings offered prices to the same comparison level when that cannot be done by the suppliers themselves. For example, a procurement with a different delivery location. In cases where the purchase price is not the only criterion, but the features of the material or the procurement in general, also need to be taken into account, both features and score are weighted.<\/p>\n

    [\/et_pb_text][et_pb_button button_url=”https:\/\/www.cosmo-one.gr\/en\/demo-request\/” button_text=”Demo Request” _builder_version=”4.21.0″ _module_preset=”default” locked=”off” global_colors_info=”{}”][\/et_pb_button][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ use_custom_gutter=”on” gutter_width=”2″ module_class=”auction-content comparative” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_video src=”https:\/\/youtu.be\/k-rJGEDadrc” _builder_version=”4.24.0″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][\/et_pb_video][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text module_class=”row-subtitle” _builder_version=”4.21.0″ _module_preset=”default” locked=”off” global_colors_info=”{}”]<\/p>\n

    Comparative Auction<\/h3>\n

    [\/et_pb_text][et_pb_text _builder_version=”4.21.0″ _module_preset=”default” text_font_size=”16px” locked=”off” global_colors_info=”{}”]<\/p>\n

    It is common practice, when comparing two products, to compare their features and prices separately. This way, results are along the lines of \u201cthis is much better than that one, but more expensive by X%\u201d, and the purchase decision depends on whether the price (i.e. price differences are decisive) or the features (i.e. quality is of interest) are prioritized.<\/p>\n

    Respectively, in a comparative auction, features and prices are evaluated separately. The result is formed by their combination, after setting appropriate weight factors.<\/p>\n

    [\/et_pb_text][et_pb_button button_url=”https:\/\/www.cosmo-one.gr\/en\/demo-request\/” button_text=”Demo Request” _builder_version=”4.21.0″ _module_preset=”default” locked=”off” global_colors_info=”{}”][\/et_pb_button][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ use_custom_gutter=”on” gutter_width=”2″ module_class=”auction-content dynamic” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_video src=”https:\/\/youtu.be\/9qnq5vrKU8E” _builder_version=”4.24.0″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][\/et_pb_video][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text module_class=”row-subtitle” _builder_version=”4.21.0″ _module_preset=”default” locked=”off” global_colors_info=”{}”]<\/p>\n

    Dynamic Auction<\/h3>\n

    [\/et_pb_text][et_pb_text _builder_version=”4.21.0″ _module_preset=”default” text_font_size=”16px” locked=”off” global_colors_info=”{}”]<\/p>\n

    The dynamic auction is a variation of the English auction, sharing the same features, except for the rule of offer validity.<\/p>\n

    In a dynamic auction, in order to be validated by the system, each offer must meet the following two key criteria:<\/p>\n

      \n
    1. its processing must start within the auction’s time limit.<\/li>\n
    2. the offered price must be better than the starting price, the current best price on the system, or the bidder\u2019s previous bid.<\/li>\n<\/ol>\n

      Dynamic auctions also allow for two winners for the same procurement.<\/p>\n

      [\/et_pb_text][et_pb_button button_url=”https:\/\/www.cosmo-one.gr\/en\/demo-request\/” button_text=”Demo Request” _builder_version=”4.21.0″ _module_preset=”default” locked=”off” global_colors_info=”{}”][\/et_pb_button][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ use_custom_gutter=”on” gutter_width=”2″ module_class=”auction-content yankee” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_video src=”https:\/\/youtu.be\/_lMXdzqJljs” _builder_version=”4.24.0″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][\/et_pb_video][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text module_class=”row-subtitle” _builder_version=”4.21.0″ _module_preset=”default” locked=”off” global_colors_info=”{}”]<\/p>\n

      Yankee Auction<\/h3>\n

      [\/et_pb_text][et_pb_text _builder_version=”4.21.0″ _module_preset=”default” text_font_size=”16px” locked=”off” global_colors_info=”{}”]<\/p>\n

      The American auction is a popular auction type that is used when the organizer wants to purchase large quantities of the same goods, material or services from more than one sellers. Before the auction, the buyer states the minimum quantity they wish to purchase from each seller, whereas the maximum quantity remains unspecified. Before the auction, the buyer states the minimum quantity they wish to purchase from each seller, whereas the maximum quantity remains unspecified.<\/p>\n

      [\/et_pb_text][et_pb_button button_url=”https:\/\/www.cosmo-one.gr\/en\/demo-request\/” button_text=”Demo Request” _builder_version=”4.21.0″ _module_preset=”default” locked=”off” global_colors_info=”{}”][\/et_pb_button][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ use_custom_gutter=”on” gutter_width=”2″ module_class=”auction-content dutch” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_video src=”https:\/\/youtu.be\/viJTB_3JF1I” _builder_version=”4.24.0″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][\/et_pb_video][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text module_class=”row-subtitle” _builder_version=”4.21.0″ _module_preset=”default” locked=”off” global_colors_info=”{}”]<\/p>\n

      Dutch Auction<\/h3>\n

      [\/et_pb_text][et_pb_text _builder_version=”4.21.0″ _module_preset=”default” text_font_size=”16px” locked=”off” global_colors_info=”{}”]<\/p>\n

      The Dutch auction is usually used when the purchase involves large quantities of one item from more than one seller, at different quantities and prices for each.<\/p>\n

      In this case, the starting prices are disadvantageously low for the participants before gradually reaching the average market prices. When the price reaches their preferred level, each participant submits their bid, stating the quantity they wish to offer at the current price.<\/p>\n

      If the quantity is sufficient, it is promptly secured and subtracted from the rest of the quantity to be negotiated and purchased. In the end, the buyer has purchased the total quantity at great prices, as the suppliers are pressured into submitting their bid early, before others secure it.<\/p>\n

      [\/et_pb_text][et_pb_button button_url=”https:\/\/www.cosmo-one.gr\/en\/demo-request\/” button_text=”Demo Request” _builder_version=”4.21.0″ _module_preset=”default” locked=”off” global_colors_info=”{}”][\/et_pb_button][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"

      Auction TypesEnglish AuctionMVB Multi Variable Bidding AuctionNPV \u2013 Net Present Value AuctionWeighted AuctionComparative AuctionDynamic AuctionYankee AuctionDutch AuctionEnglish AuctionThe English auction is the most common type of auction as, in most cases, price plays the primary role. In cases where companies prefer pass-or-fail procedures for technical evaluation and drive candidate suppliers to compete with a sole […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":2281,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false,"footnotes":""},"class_list":["post-2321","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"\nAuction Types - ENTERSOFTONE ePROCUREMENT<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cosmo-one.gr\/efarmoges\/ilektronikes-dimoprasies\/eidi-dimoprasion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Auction Types - ENTERSOFTONE ePROCUREMENT\" \/>\n<meta property=\"og:description\" content=\"Auction TypesEnglish AuctionMVB Multi Variable Bidding AuctionNPV \u2013 Net Present Value AuctionWeighted AuctionComparative AuctionDynamic AuctionYankee AuctionDutch AuctionEnglish AuctionThe English auction is the most common type of auction as, in most cases, price plays the primary role. 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