uh huh . . . same hypothetical as i presented before (i.e.only 5 items available in dutch auction with lots of bidders, including some multiple bidders): Mr. A bids for 1 at $95; Mr. B. bids for 2 at $70 each; Mr. C. bids for 1 at $65; Mr. D bids for 1 at $50; Mr. E bids for 1 at $45; etc. If the auction ends now Messrs. A, B, C and D each get what they want (Mr. E loses out because all 5 items were taken before it gets as low as his $45 bid), but every winner pays $50 (because Mr. D's bid up to $50 was the lowest winning bid, and not $46 which would have been the next increment above Mr. E's bid) for each item they have won.
Let's say I come a-sniping and I bid $200, then Mr. D gets knocked out because he would be in line for the 6th item and there are only 5. And the price jumps to $65 because that is the maximum amount that the NEW lowest bidder is williing to pay. . . . hmmm . . . thanks, pup, this helps because I was thinking that it would only be marginally above the losing bid as in a typical ebay auction.
this IS interesting . . . so here without knowing who else is bidding what amount; it really is beneficial to creep incrementally.
steve