Advantages and disadvantages of British auction and dutch auction

Hello, the advantages and disadvantages of the British auction and dutch auction are that the British auction can maximize the value of items whose subject value is difficult to determine or whose value cannot be clearly defined, while dutch auction is generally an auction method to deal with bulk or fresh and perishable items, which can quickly reach a deal. Both have their own advantages and disadvantages, which should be said to be an effective supplement to traditional commodity trading methods.

What's the difference between English auction and dutch auction?

English auction

Also known as mark-up auction, it refers to an auction method in which the bidding price of the auction target goes from low to high until the highest price (reaching or exceeding the reserve price) is hammered out. Markup auction is the oldest and always dominant auction type, which is widely used in auction activities in China.

auction

Also known as price reduction auction, it refers to an auction method in which the bidding price of the auction target decreases from high to low until the first bidder bids (reaching or exceeding the reserve price).

What's the difference between English auction and dutch auction's rules?

English auction is the most common auction form. Bidders bid for the highest price they are willing to pay. As soon as the auction deadline arrives, the auction will automatically end (if someone bids within the last 3 minutes from the auction deadline, the auction time will be automatically postponed for 3 minutes from this time), and the auction will be sold to the highest bidder.

In fact, the biggest rule of auction is only one: the highest bidder wins. All trading activities under the principle of the highest bidder are called auctions. Auction activities follow the principle of "openness, fairness, justice, honesty and credibility", and all other rules are based on the rule of the highest bidder and the principle of "three publics and one sincerity". Detailed rules you can log in to any auction.

Answer the report

There are English auctions, dutch auction, English auctions and dutch auction. English auction is also called "price increase auction" or "low valuation auction". It means that in the auction process, the auctioneer announces the starting price and the lowest increase of the auction target, and the bidders start from the starting price and compete for the corresponding price from low to high.