AuctionAnything.com announces the release of the Top(x) bidding format. The feature has been designed to offer an alternative to Dutch Bidding for those clients with multiple identical items.
Dutch bidding is typically more difficult for bidders to understand as it incorporates "3 dimensional" bidding with winning bids determined by quantity, bid and bid time. Top(x) handles multiples while eliminating confusion as it performs just like a typical listing.
Top(x) uses the Combination Bidding format to allow users to bid absolute and proxy bids within the same auction listing. The difference in Top(x) is that it awards multiple winners per auction.
An example has an item with a quantity of 5 available for sale. With Top(x) bidders are strategically bidding to land in that 5th highest bid slot to win the item at the greatest possible value. However, when the bidder falls to 6th place, they must move back to the front of the line and bid to first. By awarding multiple winners, it changes bidders strategy from a bid late mentality to a bid early and watch strategy.
Top(x) offers clients, especially fundraising, the ability to drive a larger volume of early bidding to result in higher total bidding for their event.
AuctionAnything.com is the first auction software to offer this type of bidding format to its clients.
For more information please contact:
Chris Mayr
AuctionAnything.com
407.737.0893
cmayr@auctionanything.com
