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American Line-Shenzhen City XingYi International freight forwarding Co., Ltd.

Date: 2016-09-03
Views: 40

US Dedicated Line (2) Bidding Method for Auction

There are three bidding methods for auctions: mark-up auction, mark-down auction and sealed bid auction

1. Increased Auction

This is the most common type of auction. During the auction, the auctioneer announces the predetermined minimum price, and then the bidders bid one after another. The auction house may set a limit on the amount of each price increase. At a certain price, when the auctioneer prompts three times and no one raises the price, it is the highest price, and the auctioneer knocks it down to indicate a deal. According to the auction charter, before the auctioneer fades, the bidder's US special line can cancel the bid; if the seller and the auctioneer have agreed on a minimum price in advance, and the bidder's bid price is lower than that price, the auctioneer may terminate the auction.

2. Reduced price auction

Also known as Dutch auction, it originated from the largest Dutch flower auction market in the world. The auctioneer first set the highest price, and then gradually lowered the price until someone accepted it, that is, the deal was reached. In this auction method, there is no repeated bidding process between buyers, and once the buyer accepts, it cannot be cancelled. Due to the rapid price reduction auction, it is especially suitable for large quantities and large batches of fresh goods. American Line


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