Hoping someone can help me, I'm trying to figure out a strategy for an auction I really want to win.
Basically the dutch auction is for four of a particular item. Its quite a specialised item, so there shouldn't be heaps of interest in it, but all it takes is one person to mess up the plan, and I really need to get all four for what I plan to be feasible.
So far I am the first and only person to bid on the auction - for the sake of arguement lets say the starting bid is £50 each; this is my bid and I have chosen to bid on a quantity of 4.
Now my concern is that as dutch auctions don't use proxy bidding how do I go about this - I'm willing to pay upto £100 per item, but if I put in £100 each for all four now, it will drive the floor price up. (end up paying more pointlessly.)
On the other hand, if I leave it at £50, then someone comes along and bids £60, I loose out
Is there any way I can use the sniper? Does it check to see if I'm winning? How well can it deal with dutch auctions.
Thank you
