When creating an auction in CalUsource, there are two auction types that are currently being leveraged, Regular and Sealed.
Japanese and Dutch auction types are also listed, but not being promoted at this time.
This guide will help you understand the difference between the two auction types and how to best leverage them.
You can learn about auction methods by reviewing our Auction Methods Support Article.
A regular auction allows bidders to place multiple bids against each other until an auction ends. Any bids placed are visible among the bidders as well as the event owner.
This type of auction is helpful to use if there will be extensive competition to win the auction and you have a clear understanding of the savings or profit you want to achieve from it.
A sealed auction allows bidders to place only one single bid for an event. Any bids placed are hidden among the bidders as well as the event owner. Suppliers will not be able to see information of others that they are competing against. Once the auction is over, the event owner will have full visibility to the bids that had been placed, but they will remain not visible to suppliers.
This type of auction is helpful to use if there will be a lot of competition to win the auction and the number of suppliers participating in the event is small. It can also be used to conduct a negotiation round after a regular auction.