Why have we added this option?
Many of the creditors we work with have expressed interest in a hybrid auction. Often, the seller only has a say in setting the initial price. The Hybrid Auction would offer them the opportunity to communicate with buyers and have the option to create individual conditions! Real-time information sharing between the participants and the creditor allows the seller to increase the price of pools if they desire!
The hybrid auction lasts a week, and during this time you can influence, or rather raise the price of the pool, see the bids of other participants and interact with each other, and the Buy-now price (the maximum expected price for which a seller will immediately give this portfolio) can be set.
How does it look like for buyers?
The Buy-now price is highlighted in red. By clicking on the "Buy now" button, the auction will end.
Besides, we can "Offer another price", and then we get the following view:
1. Yellow area - the price has not reached the checkpoint yet. Here, all bids could be potentially rejected by a seller.
2. Green area - if you've reached this area - you've hit the Reserve price (Seller will accept any bid higher than Reserve price and will confirm the deal). Also, you could immediately buy this pool using the Buy-now button. By clicking here, we can immediately finish the auction:
3. The slider that moves around the entire field, allows us to set a bid at any place
If a buyer places a bid below the Reserve Price, the system will ask for a brief explanation
The seller will see this message. Click the button "Confirm bid", and a chat appears where the buyer and seller can agree on terms:
What does it look like for sellers? or How does it look for sellers?The interface remains the same, only the button "Chat" appears:
Get more hands on control of your portfolio sale with Debexpert's Hybrid Auction!
Any questions?Contact us