Whats the difference between a “standard” and a “dutch” auction?
Every auction on this site will either be a “standard auction” or a “dutch auction”. When the seller only has one item to list in the auction, it will be a “standard auction”. Typically, when the seller has two or more identical items, it will be a “dutch auction”. These two auction types are described below: STANDARD AUCTION: In a standard auction all bidders bid against each other, and the highest bidder at the end of the auction is the winner of the item, assuming the winning bid has surpassed the “reserve amount” as specified by the seller when the seller listed the auction. In a standard auction there is only ONE winning bidder. DUTCH AUCTION: In a dutch auction the seller is offering two or more of an identical item for auction. Unlike a standard auction, a dutch auction MAY HAVE MORE THAN ONE winning bidder. Each bidder bids on either all or a desired number of the auction items, and indicates the price that he/she is willing to pay for each of item. At the end of the auction, a
