I. MaxBid auction:

In this auction format, buyers indicate price they are willing to pay, and the number of minutes they want to talk with a seller over phone. Our system ranks buyers and connects the seller with buyers in the order of their ranks.

Buyers are ranked in the following order of preference:

• Price/minute (prefer higher over lower)
• Duration of call (prefer longer over smaller)
• Initial bid time (prefer earlier over later)

This order of preference results in the following rules:

• A buyer bidding higher price/minute will get preference over a buyer bidding lower price/minute.
• If two buyers bid the same price/minute then the buyer who wants to talk longer will get preference.
• If two buyers bid the same price/minute and for the same duration then the buyer who placed the bid earlier will get preference.

Minimum price: A seller can set a minimum price/minute below which this seller will not talk to a buyer. A buyer bidding lower than a seller’s minimum price/minute will be told his/her position for the seller, and will be indicated that his/her bid falls short of the minimum rate set by the seller. In this way a seller can see all bids even if they are lower than this seller’s minimum, but we will not connect a seller with buyers bidding lower than this seller’s minimum price/minute.

II. Fixed price auction:

The only difference between this auction and the Simple auction is that your minimum price/minute is visible in this case; whereas, minimum price/minute is not visible in the Simple auction.

How does revealing minimum price/minute will change the bidder behavior?

With your minimum price/minute visible, buyers typically will not bid more than it. But if you are in high demand then buyers who want to get ahead of the line will bid more than your minimum price/minute.

III. Token auction:

Buyers need to purchase tokens to participate in this auction. The cost of a token is fixed and is same for everyone. You get the money corresponding to the tokens you receive in an auction for your time. Buyers do not pay anything other than the money used in buying tokens that they spent in your auctions. Our system ranks buyers and connects you with buyers in the order of their ranks.

Last buyer to use a token gets the 1^st rank and will be the first person to speak with you. For the 2^nd rank and onwards buyers are ranked in the following order of preference:

• Total number of tokens used across your past and present auctions (prefer more over less)
• Initial bid time (prefer earlier over later)

This order of precedence results in the following rules:

• The last buyer to use a token in your auction will be the 1st person to talk with you.
• A buyer using the highest number of tokens across your past and present auctions will be the 2nd person to talk with you. A buyer using the second highest number of tokens across your past and present auctions will be the 3rd person to talk with you, and so on.
• If for two buyers the total numbers of tokens used are same then the one who used the first token earlier will get preference.

Minimum price: You cannot set a minimum price/minute in this auction format.

Scheduling calls: You would not want to announce time at which you will be available for talking with buyers; otherwise, buyers will not bid until the last minute and that will reduce your collection.