Dutch Auction Question

nyctreeman

I have never did a dutch auction and have never really saw the point.
I would like to hear the the pros and cons so I can see it from another angle. The angle I see it from is not real clear as to the benifits.

nyctreeman

I'm a little confused here.

I am running a dutch auction for 8 magazines all alike

I see the bidders are putting in the number they want.

So if the auction ends and the high bidder takes 2 mags....

and the guy below him wanted 3 mags, and the next guy is 3 mags....

Do they all sell for the last high bid?

[B)][?]

I appreciate any help you can offer

nyctreeman

I don't get this at all, the instructions say that if someone bids higher to get the items they want, at the end of the auction all items sell for the lowest price....what the hell?

Then what is the point of bidding the price up?!

I don't get this at all.[:(!]

Trader Dave

Place us a link on your auctions please.

nyctreeman

Here is the auction in question
http://www.gunbroker.com/Auction/ViewItem.asp?Item=101892340

The way the example reads in the gunbroker page:

Someone wants 5 items and all 10 have a bid, so becky outbids someone on 5, but then at the auction end, the items go to becky for the original opening bid even though she bid it higher ??????

Whaaaaaaaaaaatt??

This is idiotic[:0]

givette

I know, it's kinda late..but next time put up [whatever] as one auction. Number of items..8 mags with a starting bid reflecting the minimum you will accept per mag times the amount of mags in the auction.

I tend to stay away from selling dutch. Joe

EDIT:
ref. above post..I don't think GB allows the autobid function on dutch auctions. Joe

nyctreeman

thanks everyone,
I submitted a help request on this too.
GB examples are incomplete and confusing.

I am going to add to the text of the auction so everyone knows what the deal is.

Len