Auction Types

The following types of electronic auctions are carried out in the portal www.e-publicrealestate.gr:

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: Blind Auction – 2nd Phase: Open Auction (One Sealed Bid το English Auction)

In the first phase the unique bids are placed with an envelope or electronically. Those who will participate in the second phase are selected from the participants of the first phase with criteria laid out in each auction. The second phase is carried out within a short period of time from the first auction.