Property Auctions >> Property Auction Blogs >> Property Auctions: Dutch auction
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Tuesday, October 21, 2008
In this type of auction, buyers place a bid amount they are willing to buy. In Dutch auction the price of the property is lowered until it gets a bid. The first bid made is the winning bid and results in a sale, assuming that the price is above the reserve price. This is in contrast to typical options, where the price rises as bidders compete. Many police auctions are also conducted this way. Dutch auction starts with a high price that keeps going down until the item sells. This is opposite to regular auction. Dutch auction is a type of online auctions that has become popular over the past few years. An online Dutch auction gives the seller the opportunity of listing the items only once rather than having to pay for several postings.
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