Old auction solutions -
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 either an anonymous bid, or series of bids, for different quantities of inventory they wish to purchase, at the price they are willing to pay for that quantity. Winners are determined algorithmically to ensure the fairest outcomes for buyers and sellers at auction conclusion depending on rules that the marketplace operator sets for the auction.
Industries where we applied this auction model:
CarNext (automotive)
Tender
In the Tender model, also known as a 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:
Global Dairy Trade (dairy)
