About Power Auctions LLC
Power Auctions LLC is a leading international provider of expert auction services for high-stakes auctions. Power Auctions was founded in 2003 as a provider of auction design, auction software, auction management services, strategic bidding advice, and IP, all under one roof. Our team has an unparalleled track record in the design and implementation of over 250 high-stakes auctions across six continents and in advising bidders in many other high-stakes auctions.
Auction Design: Power Auctions has contributed many of the key methodological advances for high-stakes auctions. Early innovations include the world’s first commercial simultaneous clock auction and the world’s first auction for greenhouse gas emission reductions. Subsequent innovations include the invention of the combinatorial clock auction (CCA) and an innovative design for auctioning rough diamonds. Recently, we played a key role in the design of the FCC Incentive Auction.
Auction Software: We have been leaders in bringing about the conceptual and practical implementation of these advances to over 250 auctions worldwide. The PowerAuctions™ software platform fully supports CCA, clock, SMRA and sealed-bid auction formats. It sets the standard worldwide for user-friendliness, stability, security and redundancy, and it implements features including intra-round bidding, package bidding, and the most advanced audit log capabilities available.
Auction Management Services: We customize our auction management services to meet our clients’ needs. We provide training materials, hands-on training and real-time technical support, both for bidders and for the auction manager team. To the extent desired, we can run all aspects of the auction.
Strategic Bidding Advice: In high-stakes auctions where we do not represent the seller, Power Auctions provides unrivaled strategic bidding advice to buyers. Our services include writing consultation responses on behalf of bidders, developing game-theoretic analyses of the rules, and providing real-time expert bidding advice. Recent engagements have included the UK 4G Auction and all of the recent spectrum auctions in India.
Intellectual Property: Power Auctions has by far the largest portfolio of IP among auction providers worldwide. Our intellectual property includes 22 patents relating to auction technology, as well as the PowerAuctions™ software platform.