How a Bidder Uses the Estimator

The Estimator, located at the bottom of the ItemBids window, enables you to change bids for all items in an ItemBid lot at once.

You can adjust bids by applying an equal percent decrement to all items in the lot, or enter a new lot bid and "solve" for the item bid values.

Due to rounding and significant digit issues, the Estimator cannot solve the bid precisely, but it will closely approximate the item-level bids necessary to achieve the new percentage or nominal bid.

New Lot Bid Example

In this example, the current low bid is $366,000.00, and your bid is $369,000:

»To change your bid for the entire lot to $350,000

1. In the New Lot Bid box, type "350000."
2. Click next to the box. Bids on items are adjusted accordingly and the New Lot Bid is displayed.
   NOTE: Calculating the bid does NOT submit the bid, so feel free to experiment.

Because the Estimator must adjust every item, it is not possible to get exactly $350,000. To reset the figures to the original bid amount, click Reset. (You might want to go back and change an item price to get even closer to your desired bid amount.)

3. When you are satisfied with your bid, click Submit Bid.

% Off Bid Example

To lower your ItemBid lot bid of $369,000 by 6% distributed equally across all items in the lot. Rather than going through each item and changing the price, you can use the Estimator to get the desired result.

1. In the % Off Bid box, type "1."
2. Click next to the field. The item bids above adjusted accordingly and the Lot Bid is displayed. Calculating the bid does NOT submit the bid, so feel free to experiment.

Note: To reset the figures to the original bid amount, click Reset. (You might want to go back and change an item price to get even closer to your desired bid amount.)

3. When you are satisfied with your bid, click Submit Bid.

Related Topics

Bidding on an ItemBid Lot