MaxBid
Allows users to enter the maximum amount they are willing to bid on an item while only incrementing the current bid by the step defined in the bid increment table. Whenever another bid comes in a new bid is placed on the user’s behalf until it reaches the set maximum amount set by the user.
Example
Assume an auction with the following bid increment table
LowRange | HighRange | Step |
0 | 200000 | 1000 |
and a starting bid: 1000
The table below represents bids registered on an item where:
- UserID: Id of the user placing the bid
- MaxBid Amount: The max bid amount selected by the user
- Current Winning Amount: If the auction would end then the user would have to pay the current winning amount, given it meets the reserve.
- Current Active MaxBid: Represents the active max that the auction engine uses to bid on user’s behalf while bidding amounts are below the active max amount value.
The order of operations is as follows:
- User-1 places a MaxBid of 5000
- User-2 places a MaxBid of 3000
- Auction engine places a bid on User-1 behalf one increment(step) above User-2
UserID | MaxBid Amount | Current Winning Amount | Current Active MaxBid | Bid Accepted |
User-1 | 5000 | 1000 | 5000 | Yes |
User-2 | 3000 | 3000 | 3000 | Yes |
User-1 | 4000 | 5000 | Yes |
NormalBid
A normal bid is where a user selects an amount, which must adhere to the bid increment table, and that amount moves the current bid to the amount set.
Example
Assume the same bid increment table as above and same order of operations then the resulting state would look as follows:
UserID | NormalBid Amount | Current Winning Amount | Current Active MaxBid | Bid Accepted |
User-1 | 5000 | 5000 | 0 | Yes |
User-2 | 3000 | 3000 | 0 | No |
Offer
Allow users to enter an offer for the item. An offer can be any amount and is not tied to a BidIncrementTable. More coming soon… 🚧