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Dutch Auction

In a Dutch auction, the item price descends (or ascends) based on time. When a predetermined time increment passes, the price drops (or rises) by a predetermined amount. When a bidder bids on an item at a particular price, that bidder wins the item as soon as the bid is placed.

In a single-quantity auction, the first winning bidder ends the auction; in a multiple-quantity auction, the auction ends when the number of bids equals the quantity, the auction reaches its predetermined end time, or when the lister chooses to close the auction.

Dutch auctions are commonly used for perishable items.


 Siebel eAuction Guide 
 Published: 18 April 2003