What is private auction in SAP CRM-ISA-AUC - Web Auction?

SAP Term: private auction

• Component: CRM-ISA-AUC

• Component Name: Web Auction

• Description: An auction which is visible only to invited B2B users when published in the Web shop.

Smart SAP Assistant

• Key Concepts: 
  Private auction is a type of auction that is conducted online using the CRM-ISA-AUC Web Auction component of SAP. It is a closed auction, meaning that only invited bidders can participate. The auction is conducted in a secure environment, and the bids are kept confidential. 
  
  How to use it: 
  The CRM-ISA-AUC Web Auction component of SAP allows users to set up and manage private auctions. The user can define the rules of the auction, such as the start and end times, the minimum bid amount, and the maximum number of bids. The user can also invite bidders to participate in the auction. 
  
  Tips & Tricks: 
  When setting up a private auction, it is important to ensure that all bidders are aware of the rules and regulations of the auction. It is also important to ensure that all bids are kept confidential. 
  
  Related Information: 
  The CRM-ISA-AUC Web Auction component of SAP also allows users to set up and manage public auctions. Public auctions are open to all bidders, and the bids are visible to all participants.