ONLINE AUCTIONS FOR THE BEGINNER

DUTCH AUCTION

ENGLISH AUCTION

QUICKWIN AUCTION

SPECIAL TYPES OF AUCTION LISTING

Reserve Price

DUTCH AUCTION

has a large quantity of items exactly the same being sold by one seller.

• SELLERS list minimum starting bid and quantity of items for sale.
• BIDDERS list their bid price(what they want to pay) and the quantity of items they want
• WINNING BIDDERS pay the same price for each item, which will always be the lowest successful bid.
• BIDDERS are not allowed to use proxy bidding in this type of auction.
• BIDDERS are allowed to cancel their bid if the full quantity of their bid are not available.
• BIDDERS who bid a high amount get first choice at the quantities available.
• SELLERS has more bidders than items, the BIDDER who bids early and higher gets the item.

English Auction

are one of the types of auctions most of us know. The highest bidder at the end of the time period set by the auction WINS.

QuickWin Auction

fast type of auction.

• 1.The item is quickly sold to the first person who bids and meets a certain threshhold price set by the seller. The threshhold price is never known publicly.

RESERVE PRICE AUCTIONS

• SELLER sets the lowest private price at which he is willing to sell the item.
• BIDDING can open at a lower price and if it never reaches the RESERVE PRICE which is kept secret there is no sale.
  

  AUTOMARKDOWN AUCTIONS

  • AUTOMARKDOWN auctions act the opposite of regular auctions.
  • The starting price goes down as the amount of items goes down.
  • PAYMENT by credit card on your orders are processed as soon as your bid is accepted