There is a Dutch Auction that I want to bid on. There are 2 lots available and I want both. Would I put quanity of 2 in my snip with the maximum price I want to pay for each lot? Or maximum price I want to pay for Both?
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Hi,
For dutch, enter your maximum bid for each. For example, if there are 100 TVs for sale, and you want 5 of them for a maximum of $90.00, enter $90.00 as your maximum bid.
Adam R.
For dutch, enter your maximum bid for each. For example, if there are 100 TVs for sale, and you want 5 of them for a maximum of $90.00, enter $90.00 as your maximum bid.
Adam R.
hi adam, so given this example, if i want 5 tv's and bid $90 max. and win at that bid, my tab would be $450? i just need to clarify this b/c i want to bid on a dutch auction. thanks, pattie
pattie woodard
pattie woodard
Yep, that's right. If $90 was the lowest winning bid that would be your price. Remember that with a dutch auction everyone gets the item for the lowest winning dutch price.
i.e. if there were 5 tvs and 5 bids: $86 $87 $87 $95 and $350 then all 5 people would win for $86. The guy bidding $350 wouldn't pay $350, just the $86.
There is a bit of an art in dutch bidding to maybe bid a little more than the current price so that when the price starts increasing any new bidders would have to bid more than you to bump you lower. etc.
i.e. if there were 5 tvs and 5 bids: $86 $87 $87 $95 and $350 then all 5 people would win for $86. The guy bidding $350 wouldn't pay $350, just the $86.
There is a bit of an art in dutch bidding to maybe bid a little more than the current price so that when the price starts increasing any new bidders would have to bid more than you to bump you lower. etc.