WebSphere Commerce supports three types of auctions:
- Open Cry auctions
- Sealed Bid auctions
- 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. Usually the auction starts with a high bid price that is
reduced over time until bidders have cleared the inventory.