Auction Types

The following types of electronic auctions are carried out in the portal

Α. One Phase
• Open Auction (English Auction)
• Blind Auction (One Sealed Bid Auction)

Open Auction: The starting bid, the minimum bid increment the open and closing time are specified in each auction. The participants bid continually and openly against one another, with each subsequent bid required to be higher than the previous bid, with a minimum increase equal to the designated bid increment, until the closing time of the auction.

Blind Auction: The open and closing time and in certain auctions the starting bid are specified. The participants bid only once during the designated duration of the auction in such a way that no bidder knows the bid of any other participant.

Β. Two Phases
• 1st Phase: Submission of Auction Participation Documents – 2nd Phase: Open Auction (English Auction)

In the first phase interested parties submit the necessary Auction Participation Documents. In the second phase participants place their offers with the right to counter offer through e-auction.