What is start price in SAP SRM-LA - Live Auction?

SAP Term: start price

• Component: SRM-LA

• Component Name: Live Auction

• Description: The beginning bid price for a live auction line item. This price is set manually by the purchaser.

Smart SAP Assistant

• Key Concepts: 
  Start Price is a feature of the SAP SRM-LA Live Auction component. It is the minimum price that a bidder must offer in order to participate in an auction. The start price is set by the auction organizer and is typically based on the estimated value of the item being auctioned. 
  
  How to use it: 
  In order to use the Start Price feature, the auction organizer must first set the start price for the item being auctioned. This can be done by entering the desired start price into the appropriate field in the SRM-LA Live Auction component. Once this is done, bidders will be required to offer at least this amount in order to participate in the auction. 
  
  Tips & Tricks: 
  When setting a start price for an auction, it is important to consider the estimated value of the item being auctioned. Setting a start price that is too low may result in bidders offering prices that are lower than expected, while setting a start price that is too high may discourage potential bidders from participating in the auction. 
  
  Related Information: 
  The Start Price feature is just one of many features available in SAP SRM-LA Live Auction. Other features include Bid Increment, Maximum Bid, and Buy Now Price. For more information on these features and how to use them, please refer to SAP's official documentation on SRM-LA Live Auction.