Okay, on eBay, a dutch auction is defined as multiple items being auctioned
at some minimum acceptable price. The winners of the auction only pay the
lowest *successful* bid price, regardless of what price they bid. This eBay
form of "Dutch Auction" does *not* conform to the definition given at
http://www.knowledgemedia.org/netacademy/glossary.nsf/kw_id_all/839
Ex. 10 widgets @ $2.00 USD. 10 people bid $2.00 for one widget, 5 bid
$3.00 for one widget, 1 guy bids $4.00 for 5 widgets, and 3 bid $5.00 for one
widget.
When the auction closes, all of the $5.00 bids, the guy bidding $4.00 each
for 5 widgets, and the first 2 people to bid $3.00 wins (Total=10 widgets).
All of the winning bidders pay the *lowest successful* bid of $3.00 for each
of their widgets.
For more info, see the eBay help section at
http://pages.ebay.com/help/basics/f-format.html#3
HTH
Regards,
Gary
>
> at the temporal coordinates: 11/30/01 7:45 AM, the entity known as Mark
> Rollins at mark_at_mrollins.com conveyed the following:
>
> > Subject: Re: [NTLK] Mucho 2100's 4-sale
> > Date: Fri, 30 Nov 2001 00:01:09 +0100
> >>> This guy is selling (10 qty.) on a dutch auction original 2100's .
> >> why do you call it a Dutch auction?
> >
> > Because it am one!
> > from http://www.knowledgemedia.org/netacademy/glossary.nsf/kw_id_all/839
> >
> > The Dutch Auction
> > A continuous descending auction where bidders can see the current price
> > an must decide if they wish to purchase at that price or wait until it
> > drops. The winner is the first bidder at the current price.
>
> Actually, by that definition, "Dutch" auctions on eBay AREN'T! They do
> NOT
> have the feature of the price descending and folks trying to decide
> whether
> to wait for it to go lower (and risk not getting any) or bid now.
>
> - Eric.
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