When you see a auction-type listing offering two
or more identical items, this is called a Multiple Item Auction
(also known as a Dutch Auction). This means the seller is offering
multiple, identical items for sale. Unlike a regular AJ auction,
Multiple Item Auctions can have many winners.
When you bid on a Multiple Item Auction, you specify the
number of items you're interested in and the price you're
willing to pay per item.
Important- For Multiple Item Auction listings, you cannot
use AJ's automatic bidding system to enter a maximum (or
ˇ°proxyˇ±) bid. (For more information, see Bidding on AJ.)
Winning bidders will pay a price equal to the lowest winning
bid. Winning bids are selected in order of bid price per item.
For example, a bid for 5 units at $12 per unit is ranked above
a bid for 10 units at $11 per unit. If two bids have the same
price per item, the earlier bid is given priority.
You cannot lower your ˇ°total bid valueˇ± (your bid price per
item times the number of items on which youˇŻre bidding) if
you raise your bid in this type of Multiple Item auction.
Example:
For a listing with 10 available items and 2 bidders:
Bidder A bid for 8 items at $5 each.
Bidder B bid for 3 items at $6 each.
In this case, the lowest successful bid is $5. So the outcome
of this listing is:
Bidder B wins 3 items at $5 each.
Bidder A wins 7 items at $5 each.
Winning bidders have the right to refuse partial quantities.
This means that if you win some, but not all, of the quantity
you bid for, you don't have to buy any of them. In the above
example, Bidder A bid on 8 items, but won only 7 of them.
Bidder A can refuse to complete the purchase, because Bidder
A did not win the quantity they bid on.
Bids are displayed when you click on the "Bidders list"
link. Bids that are not currently winning show their bid prices,
but bids that are winning show the price that they would pay
if the auction ended immediately. This means that, in the
Bid History, all winning bids show the same price per unit
¨C the lowest winning bid. To place a winning bid (a bid that
wins at least some units), you need to exceed this price.
The ranking of the bids affects the allocation of the items.
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