This article is intended for suppliers. If you're a buyer, check out our help articles here.
This article will cover:
Who Can Use This Feature?
A Supplier user who is invited to bid on a request.
When a request includes an Auction, you will be notified as soon as you have progressed to this stage and are invited to participate.
Opening the Auction Page
After signing into DeepStream, open the Requests page, then open the request with the auction and click the Auction tab. You will find information about the upcoming auction and will be able to participate from here once it begins.
Reading the Overview and Accepting the Bidder Agreement
Before participating in the auction, you must:
Read the Overview: Click the Overview button at the bottom-left of the Auction page. This contains important information on how the auction has been configured and will run, including bidding rules and timing rules.
Accept the Bidder Agreement: Found in the Overview section, this lists the terms for the auction that you must accept to participate. Use the checkbox and Submit button at the bottom of the panel to accept the agreement.
💡 Important: Ensure you raise any questions with the buyer well before the auction starts, as you will not be able to participate without accepting the bidder agreement.
Submitting an Initial Bid or Pre-bid
If the auction allows pre-bids, place a bid before the auction starts (specified in the Overview section).
If pre-bids are not allowed, you can submit an initial bid once the auction has begun.
To submit your initial bid or pre-bid:
Enter prices for each line item within the auction using the New bid field at the right-hand side of each item.
Click the blue Submit bid (or Submit pre-bid) button at the top-right.
✏️ Please Note: On successful submission, you will see a confirmation message in the Activity panel. If you cannot submit your bid, errors will show to indicate why and how you must correct your bid to ensure it can be submitted.
Auction Countdown Timer
A countdown timer at the top-left of your screen shows the time remaining until the auction starts or ends.
Depending on the configuration, the timer may auto-extend if a bid is placed within the final minutes.
Details of any auto-extension rules will be specified in the Overview section.
Placing a New Bid
When the auction is live and you have submitted a pre-bid or initial bid, you can place a new bid in two ways:
Option 1: Reduce Bid Total by Percentage or Fixed Amount:
Use the Reduce bid total by box to quickly reduce your bid by a specified percentage or fixed amount.
Click the Place new bid button to submit your bid.
Option 2: Adjust Individual Line Prices:
Adjust individual line item prices manually using the New bid fields.
Click the Place new bid button.
✏️ Please note: On successful submission, you will see a confirmation message in the Activity panel. If you cannot submit your bid, errors will show to indicate why and how you must correct your bid to ensure it can be submitted.
Withdrawing a Bid
If you have already started responding to an auction you can remove/withdraw your bid by clicking on the '...' button in the top right hand corner of the auction. Then click Withdraw bid.
Bid Feedback
Below the panel showing Your submitted bid, you will see feedback about your current bid. Depending on the auction setup this can be one of the following:
Rank and Lead bid
Bidders see their own rank and the lead bid
Example: “Your rank is 2nd and the lead bid is $12,300,000”
Rank only
Bidders see their own rank
Example: “Your rank is 2nd”
Leading status
Bidders see whether they are the lead bid or not
Example: “Your bid is not the lead”
The type of feedback selected for your auction can be seen in the Overview panel.
Chat with the Buyer
Click on the Chat button at the bottom-right of your screen to open a direct chat with the buyer running your auction at any point before, during, or after the auction. The buyer can respond to your message directly in the same chat window.
Before the auction begins, raise any queries with the buyer to enable them to answer and make any adjustments as necessary.
The buyer can also use the Chat function to send you messages at any point.
Tech Support
If you need technical support, click on the Support button at the bottom-right of your screen and send a message to the DeepStream technical support team for immediate assistance.
For further queries, please use our live chat feature or email support@deepstreamtech.com