posted on October 10, 2001 11:50:01 AM
I had 10 widgets, starting bid at 10.00. Only one person bid and they bid 25.00. Do I sell them the item for 10.00 or 25.00? I am so confused! Thanks
posted on October 10, 2001 12:34:40 PM
The previous answer is not always correct.
If the winner bid on less than what you offering (less than 10 widgets), the final price is $10 each widget no matter what the bid was. If the winner bid on all that you are offering (10 widgets), the final price is the bid - $25 each.
But the easiet way to answer your question is to look at the final results screen on ebay. It shows the final price for each widget.
posted on October 10, 2001 01:28:28 PM
Commentary is correct, that is why as a bidder if you want them all, it is better to bid on one less, just in case you are the only bidder.
posted on October 10, 2001 08:57:40 PM
If one wants to try and win all that is being offer, one need to ladder the bids.
For example, one can bid for 1 at $10, 1 at $11, 1 at $12, etc...
If no other bids, you will win all widgets at $10.
If someone else do bid, one will minimize what one has to pay for the widgets.
Also, note that Dutch bids are shown at all time. If one is planning to bid well above the opening, be careful of shills. For example, if one bids $25 for 9 widgets, the seller can bid $25 for the last widget and force the buyer to pay $25 each for the other nine widgets. If there is a low bid by another bidder for a single widget, it stay pays for the seller to do the same.
Dutch bids should always be a snipe bid whenever possible.
