In Netherlands at some auctions where they want to sell things quickly, the price starts high, and falls steadily. As soon as you want to buy, you press the button, and you win.
Of course, someone might just beat you by a split second to the deal, and this means that people tend to pay more for the goods than they would do as there's no going back.
This is ideal for commodity items where there's lots to be sold, and the approximate price is known.... good for things like DVDs and CDs - start at retail price + 30% and let it fall.
Discuss.
Paul
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