We will be releasing the dutch auction module in the following weeks. As a early subscriber you will have free access.

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The Dutch Auction Module enables you to organize forward or reverse dutch auctions in a fully flexible way with your partners.

With Prokuria Dutch auction module you are able to customize:

  • step of the auction
  • time between steps
  • initial price
  • maximum/minimum price

What Is A Dutch Auction?

A Dutch auction is a type of auction in which the auctioneer begins with a high asking price which is lowered until some participant is willing to accept the auctioneer’s price, or a predetermined reserve price (the seller’s minimum acceptable price) is reached.
In case of procurement usually it’s used a reverse Dutch auction where the buyer begins with a low price which is increased until a supplier is willing to accept.

When To Use?

This type of auction is convenient when it is important to auction goods quickly. The Dutch auction guarantees that the best possible price is obtained, in contrast to a traditional auction where the winning bidder may have been prepared to bid considerably more.
The biggest reasons for running a Dutch auction are weak competition, tight timelines or a need for greater control.
Ideally organizations should use the Dutch event type frequently to avoid developing a predictable behavior with the partners.

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