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 zeeesdreams
  		posted on June 8, 2001 09:59:12 AM
I was the 1st bidder in a dutch auction --- 20 thingamajiggers available --- a number of people bid after me exceeding the 20 limit. Do I loose out because of higher bid increments? I always thought 1st bids take precedent in a dutch auction, but I'm not sure.

 
 dubyasdaman
  		posted on June 8, 2001 10:06:41 AM
It's the bid amount that counts. If your bid is among the 20 highest bids, you're a winner!


Example:

20 widgets available. You bid $7.00. 40 other bidders bid in a range from $5.00 to $6.50. You're a winner.

Now let's say you bid $7.00. 20 of those 40 bidders bid at least $7.01. You're out of luck. Your bid gets pushed off the "winning bidder" stack.


I hope I haven't confused you even more...


[ edited by dubyasdaman on Jun 8, 2001 10:08 AM ]
 
 zeeesdreams
  		posted on June 8, 2001 11:09:42 AM
Thanks a lot Dubyasdaman!

 
 dubyasdaman
  		posted on June 8, 2001 08:13:45 PM
You're welcome.

 
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