Online Auctions - Coming Soon

What is it? Auctions or "forward auction" are conducted online during a specific time period usually two weeks. Counties can post a commodity online allowing suppliers (bidders) to enter their bids for such goods there by driving the price up. This allows the County to efficiently receive more money for such items on a timely basis.

How does it work? An announcement is sent to all Auction participants notifying of time and Internet location for the auction. The County post descriptions of the commodity for bidders to view. During the auction time period bidders respond with pricing and the County receives periodic updates on activity. At the conclusion of the auction a report is provided to the County with bidder information, and pricing allowing the County to see who had the winning bid.

What are its advantages? The key benefit to Auctioning is its ability to push the price up in a competitive, timely and cost effective manner. On-line auctioning goes to the next level in that it is done on the internet creating a more competitive environment thus driving the price higher than the County may have obtained in the past.

When would I use this? This is a tool for Counties looking to sell surplus goods.