Auctionologies

Auction-related parameters: starting prices, price and volume units and increments, bidder feedback and auction timing. Additionally, the auction product itself often needs to be normalized. For example, a product might have several delivery locations, requiring the creation of a single &s;virtual&s; pricing location, with up-charges for delivery to other locations. Auctionologies staff have extensive experience in configuring auction products and auction designs, and in creating &s;normalized products&s;, resulting in hundreds of successful high-stakes ($1-100 million) auctions. In order to compete effectively, bidders need enough information to be confident that the auction process is fair, and that there is a level-playing field. However, care needs to be taken to avoid giving bidders information which they can use to &s;game&s; the auction. Care needs to be taken to prevent side-channel communication between bidders and the auctioneer, and between coalitions of bidders who wish to collude. Auctionologies understands the critical role of managing the communication between the auctioneer and bidders. This includes pre-auction notices and announcements, intra-auction messages from the auctioneer to bidders, and post-auction reporting of results. Key to the success of an auction is that bidders need to fully understand the &s;rules of the game&s;. Reading the auction rules alone is insufficient. Bidders need to participate in mock auctions with the same parameters as those in the actual auction. Additionally, to minimize collusion, bidders need to be trained individually, rather than together. Auctionologies staff have training hundreds of bidders, and have developed efficient training protocols. Careful selection of the starting price, and timing of the its announcement are critical. Auctionologies understands the need for detailed monitoring of the auction process. This includes early detection of bidders having technical or other difficulties, and timely preventative intervention to assist these bidders. Auctionologies ...