Compare and adjust bid

During an English auction, you can monitor your bid ranking and adjust pricing in real-time. Use the Reverse auction section to see anonymized information on how your pricing compares to other suppliers.

Once you submit a bid, the event moves to the Submitted tab on the RFQ events list. You can submit new bids at any time until the auction closes by editing the event and resubmitting your response.

Auction close and extensions

English auctions are set to close at a specific date and time. However, if you place a bid near the end of the auction, the auction time may extend. Buyers control how extensions work, including when they’re triggered and how long they last, so this may vary between events.

You’ll receive real-time notifications for each extension, allowing you to respond quickly and stay competitive. The auction will close when no more bids are placed or after the final extension ends.

Track your bid ranking

Use the Reverse auction section to track your ranking. Submit updated bids as needed to stay competitive.

Bid requirements

Buyers can now define a Minimum bid increment that requires new bids to meet a specific reduction threshold (e.g., 5% or $10 below the current lead bid). If your bid doesn’t meet the minimum increment, you’ll receive an error message and need to adjust your bid before submitting.

Submit a new bid

1

Open the event.

2

Click the Edit Bid button.

3

Edit your response as needed.

4

Click Resubmit quote.

What's next?

Once the auction closes, monitor your event status to see if you've won. If awarded, you'll receive a notification from the buyer.

See: Review awarded English auction events.