If someone was to mention to you the word auction, it would be almost guaranteed that you would either think of a classic auction, where everyone is in the same room and holds up their card when they want to bid on a lot or alternatively, of a popular online auction website.

The important thing to note here is that whichever of the two first comes to mind, they essentially both follow the same auction format. With various items up for sale, bidders place their bids over a length of a time, with the winner who has placed the highest bid taking home the item.

However, whilst this format may be without doubt the most popular, it is not in anyway the only style of auction available. Whilst a lot of formats may have been developed to be used several years ago, they have been relatively unheard of in the public market until the popularity boom of online auctions.

Dutch auctions are a prime example of an alternative style, as although the overall format of the auction is taken from that of a traditional style auction, the actual processes vary somewhat. Starting with a seller submitting a lot of at least two identical items, the auctioneer starts the bidding at the highest price. From here, they then decrease slowly until bidders make a purchase of one or all of the items at a price that they feel comfortable in purchasing.

Whilst dutch auctions do mean that bidders need to be more alert with the whole auction, as well as understanding what real value of the lot is, if you can enter the auction and not let greed rule over you, trying to get the cheapest price you can, you could in fact take home some absolute bargain purchases.

In addition to dutch auctions, lowest unique low bid auctions have seen a massive increase in popularity in recent years, not only thanks to the internet, but to the various television stations that now utilize this auction format.

The way that lowest unique bid auctions work is very simple and all does propecia really work bidders have to do is place a bid that they believe will be both the lowest that is made in the auction, as well as being the one that is entirely unique.

Bringing a certain degree of luck to the auction, lowest unique bid auctions offer the ability to win an item that is worth hundreds of pounds for a few pence – assuming that no two people make exactly the same low bid.

Auctions have long been a popular Cialis way to buy and sell goods, with Vijay Krishna, the author of Auction Theory, stating that there is evidence auctions took place in 500 BC. Developing continually throughout history, the basic principles of an auction are still used to this day and allow for people to compete against other bidders to purchase an item they want at very often a heavily reducted price.

Author Bio: Flutteroo is a new business that is entering the rapidly growing market of internet ‘Dutch Auctions‘. Dutch Auctions combine traditional retailing with skill and strategy and fun. There are hundreds of brand new items up for grabs with the opportunity of own owning a cheap ps3.

Category: Internet/Tools and Resources/Online Auctions
Keywords: dutch auctions, online auctions, internet auctions, online shopping Brand Levitra