FAQs

Here are answers to some of the most frequently asked questions about the online auction process. If you have additional questions, please contact us today.

What is a reverse auction?
How do I log on and place a bid?
What is AutoBid and how does it work?
What is the adjusted current bid?
What is a reserve price?
What if I forget my user ID or password?
How do I change my password or update my company information?
Who can participate on Harmon's Online Auction?
Can I ask Harmon Associates additional questions about an offer?
Who will have access to my bid?
How will I know how much time remains in the auction?
Is this the only auction Harmon Associates plans to offer?

* What is a reverse auction?
In traditional auctions, there is single seller and many buyers bidding against each other for a certain good or service. In a reverse auction, there are many sellers and one buyer.

On this web site, Harmon is the buyer and agrees to purchase a specific volume of recycled fiber for no more than a predetermined reserve price. Multiple suppliers bid against each other to sell the recycled fiber.

 

* How do I log on and place a bid?
To get started, you must first register with Harmon and login at Harmon's online auction.
a. Registered users can input their user ID and password, and then click on GO.
b. Or, from the auction offer page (after selecting the region, grade and specific offer), registered users can click on the “Start Bid” button. This button will direct the user to the login screen. Input the user ID and password, and then click GO.
c. Nonregistered users need to register with Harmon before participating in the auction. To register, click on the “Register” button, complete the form fully, review, accept the terms and conditions, and then submit the form by clicking on “Register.” The information will be processed and a unique user ID and password will be e-mailed to you shortly.

 

*What is AutoBid and how does it work?
AutoBid is an optional feature that allows you to place a bid on an item without having to be present to reduce your bid should someone else outbid you. If someone does outbid you, AutoBid acts as your agent and reduces your bid in $0.50 increments. This continues until your minimum AutoBid limit is reached.

 

To use the AutoBid feature, select the “Enable AutoBid” box on the auction offer page. The “Enter lowest bid to be submitted by AutoBid” box will change from grey to yellow. Insert the minimum bid you will be willing to sell the current offer using the AutoBid function. A pop-up message will ask you to confirm your bid. Select “OK.”

 

After confirming your bid, you will immediately be notified of your bid status with the “Bid Status” screen. This screen provides details on whether or not your bid met the reserve price and if your bid is the current leading bid. You will also receive an e-mail notification stating the same information.

 

 

* What is the adjusted current bid?
If your manual bid is not the current leading bid, and if the AutoBid feature is enabled, the computer will automatically reduce your bid by $0.50 increments until it becomes the current leading bid. This new value will be listed in the “Adjusted Current Bid” field on the bid status screen. The adjusted current bid will never be lower than the minimum AutoBid you set.

 

For example, let’s say you are Bidder A. Unbeknownst to you, Bidder B has already submitted a bid of $90 for that same offer. You submit a bid of $100, enable the AutoBid, and set your “Enter lowest bid to be submitted by AutoBid” for $80 per ton. Obviously, your $100-per-ton bid would not be the current leading bid since Bidder B’s is $90 and less than your bid. However, because your AutoBid function was enabled, your bid is automatically reduced in $0.50 increments until your bid is now the current leading bid. Therefore, your “Adjusted Current Bid” would then be $89.50, making it the current leading bid. The adjusted current bid will never be lower than the minimum AutoBid you set.

 

* What is a reserve price?
A reserve price is a tool used to stimulate bidding for an offer at a specific price range predetermined by Harmon. This reserve price is the maximum price for which Harmon will purchase the offer.

 

The reserve price will not be disclosed to bidders; however, you will be told that each offer has a reserve price. Harmon is not obligated to buy the offer until the reserve price has been met, but they do have the option to buy it.

 

After submitting your bid, you will immediately be directed to the “Bid Status” page, notified whether or not the reserve has been met and notified if your bid is the current leading bid. At the conclusion of the auction, to win the offer, the winning bid must be equal to or lower than the reserve price and be the overall lowest bid.

 

* What if I forget my user ID or password?
If you cannot login to the system, call the Harmon bid administrator at 516-997-3400.

If you have logged in but have forgotten your password, select the “Contact Us” link on the main menu bar. Fill out the contact information and insert a message in the text box. The Harmon bid administrator will send you your password.

 

* How do I change my password or update my company information?
To make changes to your account, including changing your password, you must first login to Harmon's online auction web site. See details in question #2 above. Once logged in, select the “Contact Us” link on the main menu bar. Complete the contact information and then describe the new information in the message box. Click the “Send Message” button to forward the form to the Harmon bid administrator.

 

* Who can participate in Harmon's online auction?
Companies interested in selling or buying recycled fiber through Harmon's online auction web site first need to be qualified by Harmon. Suppliers must own a plant or have contracts for supplier tonnage. New companies interested in participating in the online auction should contact Harmon at 516-997-3400, e-mail the Harmon  bid administrator at eHarmonAdmin@gapac.com, or submit a request from the “Contact Us” link on the main menu.

 

* Can I ask Harmon Associates additional questions about an offer?
Please call 516-997-3400 and ask for the Harmon bid administrator with any question you may have. If you are logged in, select the “Contact Us” link on the main menu bar. Complete the contact information and then describe your question in the message box. Click the “Send Message” button to forward the form to the Harmon bid administrator.

 

* Who will have access to my bid?
Only the buying team and the auction administrator will have access to your bids. All information provided by bidders, regardless of means, is considered confidential and will be treated accordingly. The minimum AutoBid will be unavailable and no one, including the auction administrators, will know this value.

 

* How will I know how much time remains in the auction?
The countdown clock on the auction offer page will show how much time is left. 

 

* Is this the only auction Harmon Associates plans to offers?
No. Every month, Harmon posts offers to purchase. The auctions begin on Friday at 8:30 a.m. EST preceding the first Saturday of the month and last for five days – closing at 5 p.m. EST on the following Wednesday.