Atreus

Atreus is a Python-based SaaS auction platform for online bidding.

How does it work?

Straight after your registration on a site, you can create an online auction. You start with choosing a type of action and filling the necessary information like title, description, minimal step, and start date. Then, you add the items you want to sell, and after that, you register the bidders, providing their names and emails. Bidders can access your action through a participation URL that was sent to them. In the end, your list of auctions will indicate whether the auction is complete and will provide you with the detailed results of the auction.

What auction types?

Creating your auction at Atreus platform, you may consider 4 types of auctions as follows:

1. Hybrid Dutch auction. This type of auction is based on the Dutch auction and consists of three stages. Each of the stages is a separate auction type itself: the Dutch auction, Sealed Bid, and Best Price auctions. The tool was created for NPL disposal for DGF within ProZorro.Sale system and for the state asset sale.
2. Forward English auction. The most widely-known auction type is the English auction. The key feature of this auction type is the gradual increase in price for the item (goods or a service) that is put for sale by the auction organizer when the buyers bid in competition to purchase this item. The main peculiarity of the Forward English auction is the three-round procedure where participants can make their bids anonymously.
3. Reverse English auction. The principle of this auction type is the opposite of the forward English auction. Initially, this Reverse English auction was designed for the e-procurement system ProZorro. Here, the procurement entity functions as an auctioneer while the potential service or goods suppliers participate as bidders. The number and the duration of the auction rounds are limited and machine-controlled, making the tendering process quick, fair, and competitive.
4. Texas auction. This type is well-suited for property lease or art auctions since its practically identical to the auctions conducted by Sotheby's. The bidding here starts with a price announced by the seller and lasts until there remains only one bidder willing to take a lot. 

What is so special?

The four types of auctions allow the user to achieve multiple business needs. Choosing the right type, you choose the prosperity of your business and the satisfaction of your clients that are based on the digital innovation of Atreus.

• SaaS auction platform by Atreus.auction is a cloud-based solution available for you anywhere and anytime.
• Four types of auctions that come in many different formats power you with an enormously big number for its application.
• The platform is highly scalable. If you need to increase system capacity, the Atreus team can easily involve additional servers with AWS. 

Learn more about Atreus and try out the first 10 auctions for free following the link https://atreus.auction/.