Auction & Trading Engine

Delivering auction expertise to power your marketplace.

Digital auctions provide a measure of convenience. Bidders can participate in a digital auction or exchange from anywhere across the globe, saving time and money for both buyers and sellers, expanding reach and driving better outcomes.

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Auction technology software solution NextGen

Why NovaFori's auction and trading technology?

Auction and trading technology is the engine that powers B2B marketplaces, facilitating the exchange of goods through competitive processes. This technology, which drives dynamic pricing environments, empowers businesses to enhance their sales strategies, promoting effective price discovery.

Increase efficiency

Save time and effort through investing in future-proof infrastructure that can scale effectively.

Global reach

Conduct multiple and simultaneous online auctions on a global scale, in multiple languages and currencies.

Flexibility

Online auctions allow you greater flexibility when setting bidding windows, the number of available lots and trading rules.

Price transparency

Auctions balance supply and demand to bring the right price to the forefront.
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Design the auction platform that is right for your needs

Our auction and marketplace experts blend analytical rigour and experience to design a mix of trading events and transaction types that generate the optimal conditions for trade. Multiple auction models can be deployed in your platform either individually or on a hybrid setup.

Auction models we support

How does English Forward work?

Buyers compete for goods or services by bidding an incremental price. Bidding can be open or closed and the goods or services sell to the highest bidder at the conclusion of the auction if the bid is greater than the reserve price set.

Industries where we applied this auction model:

Christie's (fine arts and collectibles)

CarNext (automotive)

Hilco (IPv4)

Sealed Bid

Buyers place anonymous sealed bids, without knowledge of other bidders' bids. At the end of the auction, the bidder that placed the highest bid wins. This model ensures the seller achieves the highest possible price the market is willing to pay, without being influenced by other bids.

Industries where we applied this auction model:

CarNext (automotive)

How does Buy Now work?

In a Buy Now trading models, buyers experience a streamlined purchasing process with a single click at a fixed price, specifying quantity and paying the displayed unit price.

Industries where we applied this trading model:

Christie's (fine arts and collectibles)

AgriClear

Hilco (IPv4)

CIX

Capacity Auction

In the Capacity Auction, both the sale price and the allocation of quantity between buyers is determined by a resolution algorithm. The design of this model was guided by three key objectives:

Maximise total value gain across buyers and sellers.
Simplify the decision processes faced by buyers.
Enable buyers and sellers to reflect their degree of flexibility over the quantities they want allocated.

Industries where we applied this auction model:

Climate Impact X (carbon credits)

Global Dairy Trade (dairy)

Scoring Auction

In a scoring auction within a marketplace, participant bids are evaluated based on specific criteria, such as price, quality, and delivery terms. A Scoring Auction is advantageous for a marketplace when the valuation of items involves multiple attributes, allowing bidders to express nuanced preferences and considerations beyond monetary value.

Industries where we applied this auction model:

MaruFreight

AgriClear

Global Dairy Trade (dairy)

EuroNext

A solution for your industry

NovaFori provides auction technology solutions across diverse industries around the world. We adopt a collaborative and hands-on approach, combining our auction expertise with your industry knowledge and business requirements to design the platform that's right for you.