The system should be able to determine the winner for the item automatically at the end of the auction, based on the following criteria:
i.) If the final bid price is less than retail sale price, the bidder who place the highest bidding price will win the item.
ii.) If the final bid price is equal to the retail sale price and only ONE bidder putting such bid amount, he will automatically become the winner for the item
iii.) If the final bid price is equal to the retail sale price and more than ONE bidder putting such bid amount, then the winner will be determined based on his/her “Buyout” price. Bidders with higher buyout price shall win.
If the “Buyout” price from the bidders is same, then the winner is based on the total number of “registered item” during a period that is pre-determined by the admin. The bidder with higher number of “registered item” will become the winner.
If the number of “registered item” for these bidders is still same, then the bidder who has the earliest registration on that particular item will become the final winner.
Example:
Scenario A
Retail sale price: $ 2,000
Bidder A final bidding price: $ 1,950
Bidder B final bidding price: $ 1,945
Bidder C final bidding price: $ 1,940
Winner: Bidder A
Scenario B
Retail sale price: $ 2,000
Bidder A final bidding price: $ 2,000
Bidder B final bidding price: $ 1,995
Bidder C final bidding price: $ 1,990
Winner: Bidder A
Scenario C
Retail sale price: $ 2,000
Bidder A final bidding price: $ 2,000; Buyout price set by the bidder A: $2,200
Bidder B final bidding price: $ 2,000; Buyout price set by the bidder B: $2,100
Bidder C final bidding price: $ 1,995
System will do checking on what’s the “Buyout price” set by the bidders for that particular item. Let say if Bidder A has put a “buyout price” at $ 2,200 and Bidder B set his “Buyout price” at $2,100, and then Bidder A will become the winner for this auction.
Scenario D
Retail sale price: $ 2,000
Bidder A final bidding price: $ 2,000; Buyout price set by the bidder A: $2,100
Bidder B final bidding price: $ 2,000; Buyout price set by the bidder B: $2,100
Bidder C final bidding price: $ 1,995
If coincidentally Bidder A and Bidder B put a same “Buyout price”, the system now will do checking on how many “registered items” have been done by Bidder A and B from 5 Oct 2011 till 12 Oct 2011. This “duration” is set by the admin actually.
Let say if Bidder A has registered to other 5 items during this period while Bidder B only registered to other 3 items on the same period, then Bidder A will become the winner for this auction.
Scenario E
Retail sale price: $ 2,000
Bidder A final bidding price: $ 2,000; Buyout price set by the user: $2,100
Bidder B final bidding price: $ 2,000; Buyout price set by the user: $2,100
Bidder C final bidding price: $ 1,995
Similarly, system will do checking on how many “registered items” have been done by Bidder A and B from 5 Oct 2011 till 12 Oct 2011.
IF Bidder A and Bidder B both are found have registered to other 5 items during this period, then the final winner will be determined by the earliest time the bidder register to the product.
Let say Bidder A has registered on the item at 9.45 am while Bidder B has registered on the item at 11.45 am, then Bidder A shall become the final winner for this auction.