Reverse E-Bay

[goraiders]

Is there something like this? Say I post that I want this record and start at 50 dollars, then the auction goes for a week and people bid for selling it and go lower and lower.

[xxfesterxx]

ha

[mclz]

yeah, its called a dutch auction.

[konk]

This sounds like a good idea. I thought dutch auctions were multiple item auctions where the highest bidders won each item or multiple items.

[One Hundred Fifty-Two]

Stub Hub

[konsonant]

I thought dutch auctions were multiple item auctions where the highest bidders won each item or multiple items.

Nope, MARC is right. In a Dutch auction, also known as clock auction, the price is lowered until someone buys the item or a predetermined reserve price is hit. The name stems from the Dutch flower auctions in which they have to move a big amount of flowers in a relatively short time frame. A big price clock ticks down till one of the potential buyers in the room hits a little buzzer in front of him and buys the corresponding flower bundle. I think they run like 3 clocks for different bundles simultaneously.