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Can someone give me a brief run down on Dutch...

Permanently deleted user
Auctions??? I have never bid on one until now...and I did not realize it was a Dutch Auction until after I bid. How do they work and who is the winning bidder???? This was one of LF's ammo auctions...doubt I'll win it anyway, but I'm trying to pick up some cheap inventory.[^]
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15 comments

Date Votes
  • tysonagreen
    This is what wikipedia has to say.

    http://en.wikipedia.org/wiki/Dutch_auction

    But I thought it was when they had multiple of the same item up for auction at the same time. If there were 5 available, then the top 5 bidders would all win at their last bid price.
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  • MVP
    If there are 10 items in a dutch auction and the first item gets a bid of 1.00 and the second through tenth item gets bids ranging from 2.00 to 10.00 everyone wins their item for 1.00

    The lowest bid that is still in the running will be what everyone pays.
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  • p3skyking
    Can someone give me a brief run down on Dutch...

    I'm sure glad you didn't ask about Greek. [;)][:D]
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  • Permanently deleted user
    quote:Originally posted by MVP
    If there are 10 items in a dutch auction and the first item gets a bid of 1.00 and the second through tenth item gets bids ranging from 2.00 to 10.00 everyone wins their item for 1.00

    The lowest bid that is still in the running will be what everyone pays.




    ....Good! I thought I was placing my highest bid like in a normal auction...and it would bid up to that amount. I'm glad to hear that I'm not locked in at the higher price yet.[8D]
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  • spurgemastur
    Is that how they work?

    I thought top bidder had the option on as many of the items as he wanted at his high price, second highest bidder had the option on any or all of the leftovers at his high price, etc until all items were taken.
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  • Jacob2008
    quote:Originally posted by spurgemastur
    Is that how they work?

    I thought top bidder had the option on as many of the items as he wanted at his high price, second highest bidder had the option on any or all of the leftovers at his high price, etc until all items were taken.
    thats what i thought
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  • PanzerSlayer2
    It was my understanding that the bids get ranked highest to lowest. Then they start counting off the quantity of each bidder from highest to lowest until they run out.
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  • SuburbanNoize
    If there is 10 boxes of ammo.

    You bid 1.00

    I bid 2.00

    I can pick however many boxes of ammo i want up to ten boxes for 2.00

    I pick five.

    The other five are yours for 1.00 a piece
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  • daveald
    spurgemaster has it right here, the highest bidder takes his aticle or articles as if they are in person then the highest bidder can take as many as he desires or on line how many he has stipulated, if there are any left, then the second bidder takes them at the price they bid,etc, etc, etc.
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  • Permanently deleted user
    I just checked out GB's info on the matter and it says that the top bidders all win the auction for the lowest winning bid....
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  • bamafan
    quote:Originally posted by ECC
    I just checked out GB's info on the matter and it says that the top bidders all win the auction for the lowest winning bid....


    You win the number of boxes you bid on. If there is ten, and you bid for five, you get five at the lowest bid price.
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  • MVP
    quote:Originally posted by SuburbanNoize
    If there is 10 boxes of ammo.

    You bid 1.00

    I bid 2.00

    I can pick however many boxes of ammo i want up to ten boxes for 2.00

    I pick five.

    The other five are yours for 1.00 a piece

    Not true.
    If you want five you will need to hit the quantity 5 when you bid.
    If you only hit quantity 1 when you bid you will get only one if your bid is in the higher bracket.
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  • 1911a1-fan
    i bid on one dutch auction, i did not win her






















    holland-Dutchwoman.jpg
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  • SuburbanNoize
    quote:Originally posted by MVP
    quote:Originally posted by SuburbanNoize
    If there is 10 boxes of ammo.

    You bid 1.00

    I bid 2.00

    I can pick however many boxes of ammo i want up to ten boxes for 2.00

    I pick five.

    The other five are yours for 1.00 a piece

    Not true.
    If you want five you will need to hit the quantity 5 when you bid.
    If you only hit quantity 1 when you bid you will get only one if your bid is in the higher bracket.




    Than i stand corrected, you need to hit the quantity button for how many you want.
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  • David Nunn
    That's why I don't fool with Dutch auctions, either as a buyer or seller. I can't figure out how they work.

    The term "Dutch" means "not the real deal."

    A Dutch uncle is not a real uncle, but a close friend known as "Uncle Whoever."

    A Dutch treat is no treat at all.

    Therefore, a Dutch auction is not a real auction, is it?
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