Data Auctions
Monetise Data Instances captured through forms or the API with Data Auctions.
Pricing Models
Several pricing and bidding models are supported:
- Fixed Price - set a fixed price per Data Instance
- Lowest Price - resolve all bidders and charge the winner the lowest Bid
- Second Bid - resolve all bidders and charge the winner the second highest Bid
- Second Bid + Increment - resolve all bidders and charge the winner the second highest Bid + an increment
- You can specify increments based on the Bid amount
Starting Prices
Minimum starting prices can be set, based on the configuration of the data.
For example, using the home loan enquiry specification, the starting price could be set as:
| Start Price | Conditions |
|---|---|
| $20 | All enquiries |
| $40 | Enquiries within Sydney CBD |
| $80 | Enquiries with Good Credit |
| $200 | Enquiries with 65% LVR, Good Credit and within Sydney CBD |
| … | … |
If a Bid fails to meet the start price, the Data Instance will not be auctioned.
Type
If a Data Instance matches one or more conditions, the start price can be configured as:
- Ramped - the start price is calculated to fall between the highest 2 start prices
- Stepped - the highest start price is used
Duplicate / Multiple Bids
In the instance where a Buyer Organization places multiple Bids on the same Data Instance, the following takes place:
- If the Bids are from different Accounts, then Bids are considered separate and entered into the Data Auction.
- If the Bids are from the same Account AND the Buyer is determined to be bidding against themselves, then the lowest Bid remains and the rest are removed.
ChargeHighestBidFromSameBidder can be set to true to change this behaviour, so that the highest Bid from the same Buyer is always used.
Zero Value Bids
By default, Bids must have an amount greater than ZERO, this can be changed by setting AllowZeroMoneyBids to true.
Low Balances
If a Bid is determined to be greater than the remaining balance in the Account, the Bid is adjusted to become the remaining balance. This can be changed by setting AdjustBidIfBalanceIsLow to false.