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whats a dutch auction??

andy12390
whats a dutch auction??

Keep your friends close, but your enemies closer. - Don Corleone
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4 comments

Date Votes
  • acdodd
    The seller has several of the same thing for sale at a set price.
    If the bid is $10 then everyone can get one for $10 you don't need to raise the bid to get it.
    At least all the Dutch auctions I have ever been in on worked that way.
    AC
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  • captkirk3@dslextreme.com
    <acdodd> is correct......

    Captain Kirk, Tech Staff
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  • Spaz
    Lets hope it is nothing Like a Dutch Oven..


    Spazzz
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  • competentone
    GunBroker's system for Dutch auctions is pretty poor.

    In a Dutch auction you are supposed to be making a contract (bid) for a quantity at a specific price.

    Places like Ebay, and traditional Dutch auctions used in the financial markets, do not require that a bidder accept a quantity less than what he bids on.

    GunBroker requires that a bidder accept a partial fill if the auction is "over-subscribed" (bids exceed the available quantity). This policy can really burn a bidder. In my experience, I had bid on a quantity of a low-priced item (magazines) -- on low-priced items, shipping can be a big expense. Other bidders reduced the quantity available at my price to just one magazine! I ended up having to buy -- and pay the shipping -- on one magazine instead of the multiple mags I was expecting.

    I'll pretty much be avoiding Dutch auctions on GunBroker unless they adopt a policy similar to Ebay where a bidder is not required to accept a quantity less than what he bids on.


    "Strength is the outcome of need; security sets a premium on feebleness." -- H.G. Wells (The Time Machine)
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