How to Bid in a COE Auction
If you’re new to the COE auction or you’d just like to practice before the real thing, you can find resources below. The Detailed Instructions will walk you through the auction process which you can practice on with our Practice Auction (Please Note: In order to bid in the practice auction, you will need to be logged into your ACE account).
Do I have to register?
Yes, to bid in one of the auctions you have to first purchase a registration, and in order to register you must first be an ACE member. Once you’re logged into your account, you can purchase auction sample sets and registrations here.
Please note: When you purchase a sample set, you are automatically registered for the auction. You do not need to purchase a samples set and a registration.
Bidding, Opening, and Closing
All lots will open together with the same minimum price. The bidding page will indicate “OPEN” until all lots have at least one bid after which a 3-minute countdown clock will begin. A bidder may place multiple or single bids on any or all lots during the open auction or during the 3- minute countdown clock. Each bid on any lot resets the clock to 3 minutes. A clock on the bidding page will indicate the time remaining for the auction. Once there are no more bids on any lot during the 3-minute time window the auction and all lots will close for bidding. A PENDING notification does not end the auction even though bidding may cease. No bid is final until the FINISHED notification appears. Once the auction software indicates FINISHED the highest bid wins the lot and all lots are closed for any additional bidding. At the conclusion of the auction, the buyer for the lot and the person responsible for payment and for shipping coordination will be the bidder placing the highest bid or auto bid for that lot. Should there be two identical auto bids the first auto bid placed wins the lot.
Communication During and After Auction
Each Bidder will log in using his/her confidential password. All bids will be identified during the auction with a bidding number not a company name. During the auction the software will communicate using the email address registered for that bidder. It is the bidder’s responsibility to ensure that the registered email is correct. Contact ACE staff for verification if uncertain.
Pricing for the lots are figured in USD dollars and cents per pound. A minimum opening price has been set by the in-country partner as the representative of the winning farmers. All opening bids on all lots must be that price or any amount greater. Incremental bids must be $.10 (ten cents) per pound or any amount greater than USD $.10 (ten cents) per pound.
How does the auction work?
You’ll need to be on the auction’s webpage to engage with the bidding. Once the auction begins, you can place a bid on any lot you’d like. The auction platform will show you what lots you’re winning and the going price for all the lots.
As soon as every lot has a first bid on it, the clock starts counting down for the whole auction and all lots are set with a 3 minute timer. Each time a new bid is placed on any of the lots the clock resets to 3 minutes. The auction continues until the clock hits zero with no further bids to reset it. The clock may reset many times over, and because of this there’s no set length for the auction.
How can I follow the auction’s progress?
Real time updates are essential in a coffee auction where the auction clock is counting down quickly between bids. We recommend that you have a fast, stable internet connection for your auction participation and that you do so on a desktop rather than a phone.
The coffee lots being offered for sale through this internet auction were designated Cup of Excellence (COE) winners at the competition and awards ceremony held in country. No other coffee can be sold using this designation. Online bidding for any Cup of Excellence lot is only available through this website. Each lot is separate and distinct. Samples of all lots have been made available in advance of the auction- it is the responsibility of the bidder to determine quality and appropriate value.
Auction Opening Date and Times
The auction will open for bidding on the set day at 9:00 A.M. (New York).
Proxy and Auto Bids
An auto-bid or proxy feature is available to any bidder wishing to allow the software to place their next highest bid. A bidder can place a high bid on any coffee lot using the auto-bid function. The software will then place a ten cent higher bid above a competitive bid until the auto bid price is reached. The software will not place any higher auto-bid amount unless there is a competitive bid for that lot. Each Bidder will be able to view the current high bid for a Lot at any time during the Auction. Individual bids once accepted by the auction software, may not be revoked or withdrawn. However, you may cancel an auto-bid to prevent the system from placing further bids on your behalf.
Posting the Results
30 minutes or earlier after the end of the auction successful bidders will be identified by their company names. The auction results will be posted on the ACE website. Buying group members and their company identification is the responsibility of the actual bidder. Buyers can also be added at a later date.