Auction Types

GoWit offers three types of auctions:

1. First-Price Auction operates on a straightforward principle where advertisers with the highest bid wins the auction.

For example:
Advertiser #1 - $3.00 CPM bid
Advertiser #2 - - $2.00 CPM bid
Under the first-price auction setting, Advertiser#1 wins and pays exactly $3.00

2. Second-Price Auction works in a way that allows advertisers to win the auction by paying 1 cent more than the second highest bidder committed to pay. In this type of auction, advertisers tend to bid high because they usually pay less than what they bid.

For example:
Advertiser #1 - $3.00 CPM bid
Advertiser #2 - - $5.00 CPM bid
In the second-price auction, Advertiser#2 wins and only pays $3.01.

3. Custom Auction - marketplaces can choose the type of auction in the auctions made at the ad selection. Alongside the first bid, second bid options, marketplaces can generate customized auction strategies for them.