- December 18th, 2018
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The market has well established prices for commodities like gold and silver, but how do you properly price commodities that don't trade very often? How does a company determine the price to buy and the price to sell? The answer is commodity auctions. If you're trying to sell items that are tough to price like rare earth elements, diamonds, or minerals, an auction is the best way to bring together buyers and sellers under an industry-best set of rules, construct the demand curve properly through software driven means, and ensure that the commodities are traded at a true, efficient market-driven price. Our software will help you price the hard-to-price items you need to sell.
A commodity auction is actually quite simple - you have a predetermined number of units of the commodity you wish to sell. For example, 220 pounds of yellow cake uranium, 400 tons of copper tubing, or 1,000 gem quality diamonds. The price per unit (10 pounds of yellow cake for example) ticks down every few minutes. Bidders bid at the price and quantity they are comfortable paying, and the auction continues to decrease prices until someone places a bid that causes supply to equal demand. At this point the auction ends, with every bidder paying the price of the last bid for each unit or product.
A commodity auction is actually quite simple - you have a predetermined number of units of the commodity you wish to sell. For example, 220 pounds of yellow cake uranium, 400 tons of copper tubing, or 1,000 gem quality diamonds. The price per unit (10 pounds of yellow cake for example) increases each round. As the price increases round-to-round, bidders will begin to reduce their quantity bid on the products. At the point when the quantity bid is equal to the supply, the auction will end with each winner paying the lowest winning price per unit.
We would be incredibly happy to show you a demonstration of our commodity auction software. We are confident that once you see how the software works, and how easily it controls every aspect of your auction, you will never go back to using an Excel spreadsheet. Our software takes care of everything you could imagine - exact timing of rounds, ensuring bids are received in time, ensuring bids adhere to eligility rules, and thousands of other things. Plus, it runs right in your browser, so anyone with a desktop, laptop, or even a smartphone can use our software.
We will be happy to talk with you about your auction software needs, and will help answer any questions you might have. We know that our commodity auction software is the best the world. You'll learn the same thing all of our recurring clients have found - once you use our commodity auction software, you'll never want to use anything else again.
Phone: +1 512-947-8273
704 Clear Spring Cove
Round Rock, TX 78665
We are responsible for a wide range of auctions for national governments and private corporations - everything from pricing 10% of the world's diamond supply to billions of dollars worth of electricity in for states in the United States.
When you are running the most important auctions in the world you have to choose the best auction software provider in the world, Optimal Auctions.