Other Neat Features: What are Dutch auctions?
Dutch Auctions are used to sell multiple quantities of the same item. They allow sellers to sell the same item in various quantities as one single lot in an auction. With a Dutch Auction the items do not have to be listed separately saving time. In a Dutch Auction, all the winning bidders pay the same price. The final price is determined by the lowest winning bid. So, even if your bid is higher than the lowest winning bid, you will still pay the lower amount. The highest bidders of the available quantities win, and the lowest bid within the group of winners sets the final price. As an example, if three people bid on one of three items, the price each bidder would pay would be the third highest bidder’s bid amount and each would receive one item as per their bid. If there are multiple buyers bidding on various quantities in a lot the highest bidders are the ones that get first service. The highest bidders’ request for their quantities will be honored, while quantities last. In other wor
