Creating MetaBid Factors

»To add MetaBid factors

When creating a new project, do NOT select the MetaBid Formulas check box in the Additional Properties section of the Project Settings page. (You can also deselect this option when editing properties of an existing project.) If you select this option, you will see different pages with fields for configuring MetaBid formulas not MetaBid factors.

Create lot groups with lots and items as usual. On the Attendee page, select a bidder attendee from the list, click Properties on the toolbar to open the dropdown menu, and select Edit attendee properties.

Click the MetaBids button in the Attendee Access section of the Attendee Properties window to open the Attendee MetaBid Factors page.

Click on the toolbar to open the MetaBid Factor Properties window.

NOTE: To edit an existing MetaBid factor, select the factor you want to work with, then click . Make any necessary changes on the MetaBid Factor Properties window and click Finish. To delete a factor, select the factor you want to delete in the list and click on the toolbar.

MetaBid Factor Properties Window

Enter information in the following fields to setup the MetaBid Factor:

Name: Enter a unique name for the factor.
Factor Type: Choose whether you want to make the discount or penalty a percentage of the bid of a set amount.
Amount: Select the amount of penalty or discount. Remember that in a reverse auction or sealed bid event, a negative number creates a discount and a positive number creates a penalty.

Click Finish to return to the Attendee MetaBid Factors window with your factor displayed in the list.

Factors are individually applied to each lot. If you don't apply the factor to a lot, then the attendee's bid will not be adjusted. Assign a MetaBid factor for the Attendee to specific lots by selecting lot from the drop down menu in the lot field and selecting the factor in the Select MetaBid Factors list.
Click Finish to exit MetaBid Factors and return to the Attendee Properties window.
Use the Access field and the Lot list to select the lots that attendee will be able to view and enter bids. The magnifying glass icon indicates the bidder can view a lot. A money icon indicates the bidder can bid on a lot.
Click Finish.