What is current bid in SAP SRM-LA - Live Auction?

SAP Term: current bid

• Component: SRM-LA

• Component Name: Live Auction

• Description: The most recent actual bid price proxy bid calculated and submitted; it is always larger than or equal to the minimum bid submitted by the bidder.

Smart SAP Assistant

• Key Concepts: 
  Current bid is a term used in SAP SRM-LA Live Auction. It refers to the highest bid that has been placed on an item or service in an auction. The current bid is the amount that the highest bidder has offered for the item or service. 
  
  How to use it: 
  In SAP SRM-LA Live Auction, the current bid is displayed on the auction page. This allows bidders to see how much they need to bid in order to outbid the current highest bidder. The current bid can also be used as a reference point for bidders to determine how much they are willing to pay for an item or service. 
  
  Tips & Tricks: 
  When bidding in an auction, it is important to keep track of the current bid. This will help you determine how much you need to bid in order to outbid the current highest bidder. Additionally, it is important to remember that the current bid does not necessarily reflect the final price of an item or service, as other bidders may still place higher bids before the auction ends. 
  
  Related Information: 
  In addition to understanding the concept of current bid, it is also important to understand other terms related to auctions such as reserve price, minimum bid, and buy now price. Understanding these terms will help you make informed decisions when bidding in an auction.