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Dutch Auction question?

bamafan
I had bid for 5 @ $15.95 in this Dutch Auction; other bidders had reduced the quantity available at my bid price down to one -- so I won 1 @ $15.95.

Traditionally, with Dutch auctions when one is bidding for BOTH a quantity AND price, if one does not win the full quantity bid on, one is NOT required to accept the lesser quantity. Unfortunately, I do not see GB's rules giving an explanation consistent with this; I cannot see that they say anything on the matter. Does anyone have a detailed explanation on GB's policies with Dutch Auctions?

The time required to get a Money Order and the $5 shipping costs for just one magazine is not what I was bidding on; I was expecting the traditional Dutch auction rules to apply and think it really stinks (fault of GunBroker, not the seller) if I'm now expected to complete this transaction for just one magazine.

Has anyone else run into this situation?




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

8 comments

Date Votes
  • bamafan
    So, here's the scenario. Say a guy has twenty boxes of ammo he is selling through a dutch auction. The items have already been bid on by the time I have come across them. So I bid up to thirty dollars for five boxes of the ammo. Another individual bids on a few boxes at thirty-two dollars for five boxes. One guy bids, say, twenty-six dollars for one box of ammo. The auction ends with these bids. Do I win the five boxes of ammo at thirty dollars, or do I win them at twenty-six dollars per box?

    I have read the info on the auction side, and I reads that "At the auction close, all winning bidders win their items at the lowest winning bid price."

    I'd also like to add that I have received an e-mail through Gunbroker that I owe twenty-six dollars for each box of amm. But the seller says that I owe thirty dollars for each box. So, which price do I pay for them?

    Thanks for any clarification on this.
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  • spurgemastur
    I could be wrong on this but I thought the winning bidder got to buy as many boxes as he wanted at hiswinning bid price. If any are left over when he's done, 2nd place bidder buys as many as he wants at his high bid...and so-on until none are left.

    So winner pays the premium of his high bid for the chance at first crack at the lot.

    Hopefully someone will correct me if I'm wrong.
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  • SuburbanNoize
    quote:Originally posted by spurgemastur
    I could be wrong on this but I thought the winning bidder got to buy as many boxes as he wanted at hiswinning bid price. If any are left over when he's done, 2nd place bidder buys as many as he wants at his high bid...and so-on until none are left.

    So winner pays the premium of his high bid for the chance at first crack at the lot.

    Hopefully someone will correct me if I'm wrong.


    thats what i assumed.
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  • Mercury
    GB is right. You pay $26 per box, for as many boxes as you bid on.


    Online "dutch" auctions aren't the same as real life dutch auctions.

    Merc
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  • PanzerSlayer2
    Each person bids a price and quantity. When the auction is over they rank the bids from highest bids to lowest and add up the quantities requested until they run out. You may not even get all the units you want if there are bids that claim all the units before you and leave you with a partial.
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  • Henry0Reilly
    Yep, I sold some obsolete ammo that way once and I swore off dutch auctions as a seller ever since.....
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  • Locust Fork
    I had a dutch auction and the winner got the items....and instead of saying "I didn't understand how this worked"...tried to get out of it AFTER everything was over. These things are confusing. I think the next time I do one of these I may include a blurb on how these auctions work in my description.
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  • bamafan
    Dutch auctions are a little confusing in my opinion. The price difference in this situation only amounts to twenty dollars, so I'm gonna send him the money just because I want the ammo, and it is a GOOD deal. I'll probably stay from dutch auctions from now on.
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