What do the sales formats mean?
English Auction – In an English auction, buyers bid online until the auction ends. The item is then sold to the highest bidder at the end of the auction period.Dutch Auction – A Dutch auction is a multiple-item listing. The main difference between Dutch and multiple quantity English auctions is that with Dutch auctions, all Winning Bidders get their items at the price of the lowest Winning Bid. Additionally, Proxy Bidding cannot be used with Dutch auctions.Reverse Auction – In a Reverse auction, suppliers bid online to satisfy the buyer’s request. Used primarily for procurement purposes, Reverse auctions allow buyers to list items and services they are interested in purchasing, and then suppliers bid down the price. The lowest bid wins.Fixed Price – In Fixed Price listings, the item is available for immediate purchase at the price listed. This is not an auction, so no bidding is required.
English Auction – In an English auction, buyers bid online until the auction ends. The item is then sold to the highest bidder at the end of the auction period. Dutch Auction – A Dutch auction is a multiple-item listing. The main difference between Dutch and multiple quantity English auctions is that with Dutch auctions, all Winning Bidders get their items at the price of the lowest Winning Bid. Additionally, Proxy Bidding cannot be used with Dutch auctions. Reverse Auction – In a Reverse auction, suppliers bid online to satisfy the buyer’s request. Used primarily for procurement purposes, Reverse auctions allow buyers to list items and services they are interested in purchasing, and then suppliers bid down the price. The lowest bid wins. Fixed Price – In Fixed Price listings, the item is available for immediate purchase at the price listed. This is not an auction, so no bidding is required. “Hot” Listing – This symbol indicates an item which has generated a higher than normal level of
