MULTIPLE ITEM AUCTIONS
A Multiple Item, also known as a Dutch auction, is where the seller has two or more items that are the same and is willing to break them up to sell to individual bidders.
This can be done as BUY NOW or AUCTION.
BUYING ON A MULTIPLE AUCTION
While browsing the auction listings you can see a blue square icon next to the auctions title.
This indicates that it is a Multiple Item Auction.
To buy, click on the title of the item you are interested in to view all details of that auction item..
Again you will see the blue square icon with an M, marking the auction as an Multiple Item Auction.
You can also see the quantity of items in this auction. In the example below, there are 10 slides available at this time.
This auction also have BUY NOW enabled.
Which means you can purchase one of more slides immediately using the BUY NOW feature.
To place a bid or buy now, scroll down to the bidding section.
BUY NOW ON MULTIPLE ITEM AUCTION
Most common is to use the BUY NOW feature even on Multiple Item Auctions.
To do this, use the RED BUTTON to your right in the bidding section of the auction item. See below…
Next page just confirm your purchase.
BIDDING ON A MULTIPLE ITEM AUCTION
To place a bid on an Multiple Item Auction, enter the amount of this item you are interested in. 1 item or more…
Next, place your bid
HOW BIDDING WORKS ON MULTIPLE ITEM AUCTIONS
By using the BUY NOW function (as described above), you immediately purchase your item and do not have to worry about the process below.
For Example, a Multiple Item auction has been placed with 10 items for sale.
- The opening price for the items is 1.00 EUR each.
- After the auction opens, 20 people place equal bids for the items at 1.00 EUR each.
If the auction were to close at this point, only the first 10 people to bid would be declared winning bidders.
Earlier bids take precedence over later bids of an equal amount (and in this case, quantity).
- However, before the auction closes, a new bidder places a bid of 3.00 EUR for one of the items. Because this person has placed the highest bid, if the auction were to close now, he or she will win one of the 10 auction items.
- The remaining 9 items are won by the first 9 bidders who bid at 1.00 EUR.
- However, because all bids will be accepted at the lowest winning bid, the person who bid 3.00 EUR will only be required to pay 1.00 EUR for the item.
By bidding over opening price, new bidders can essentially knock the earlier low bidders out of the running which helps guarantee then a higher placing.