Forward English auction

The essential rules of auctions:

  • Before the start of the auction, the participants submit their bids
  • The auction has three rounds
  • During the round, the players are betting alternately
  • The last bid is the bidder who offered the highest price
Ascending English Auction

The winner

  • No one if any bet was not made
  • The participant that the last offered the price

Both English and reverse auctions have a similar workflow and shared features:

  • Each auction type starts with an initial price value set by the auction organizer and changes (grows or falls) by a predefined minimal step value.
  • For the sake of fair play, the participants stay anonymous during the whole bidding process.

The auctions consist of a three rounds, each round being limited in time.