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Tuesday, January 22, 2019

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Auction Types at

Currently, only holds reserve price auctions.  We hope to add Dutch Auctions over the next few months.

  • Reserve Price Auctions
    The reserve price is the lowest price a seller is willing to sell an item.
    • Bidders know a reserve price has been set but do not know what it is.
    • In order to win the auction, a bidder must meet or exceed the reserve price and have the highest bid.
    • If no bidders meet the reserve price, neither the seller nor the high bidder are obligated to complete the transaction.

  • Dutch Auctions
    Dutch Auctions are typically held for sellers with many identical items to sell. 
    • Sellers start by listing a minimum price, or starting bid, and the number of items for sale.
    • Bidders specify both a bid price and the quantity they want to buy.
    • All winning bidders pay the same price, which is the lowest successful bid. So you might win for less than what you bid.

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