Bidding on a Standard Lot

Standard lots can contain several different items to provide complete information about the lot to the bidder but bidders can only place one comprehensive bid for all the items listed.

»To bid on a standard lot

Click the name of the lot you want to bid on. The selected lot becomes highlighted in yellow and Iasta SmartSource makes the Bid field available. Above the Bids area there is another information area which displays the minimum bid decrement (Min. Bid Decrement) which is the dollar or percentage amount by which you must decrease (for reverse auctions) or increase (for forward auctions) the bid.

Standard Lot Bidding Area

Type the bid amount in the Place Your Bid Amount field and click Submit. The Bid Confirmation window appears.

Bid Confirmation Window

Click OK to submit the bid or Cancel to exit without submitting the bid. If you submitted a bid, Iasta SmartSource lets you know that the bid has been recorded or, if the bid is not within the correct boundaries, an error message will appear explaining why the bid was not accepted.