Quote:
|
Originally Posted by Graham
In *some* types of auction...!
Ever been to a (Reverse) "Dutch Auction"?
In a Dutch Auction the price starts at, eg £200 and drops by eg £5 increments until someone bids, at which point the auction closes.
In a Reverse Dutch Auction, there's a timer (IIRC it used to be a candle set to burn through a string that would drop a hammer on a bell) that determines when the auction closes, the last bid received before the bell gets the item.
It's a way of ensuring that auctions don't go on too long.
|
Ebay dont do reverse dutch auctions and no one was talking about reverse dutch auctions. We were talking about the type of auction that ebay runs and sniping.