Has anyone ever tried a dutch auction on multiple coins graded the same?

bgrice

Let's say you had four PCGS PR69DCAM 1969-S jeff proofs that could pull some decent money on eBay sold one at a time. Could you pull in more interest & possibly some dealers/investors if they were put up in a dutch auction? Given that there are 4 chances it might bring in some spirited bidding. And maybe give the high bidders their pick of the coins given that there are good pictures. Good idea? Bad Idea? Indifferent? All hypothetical of course.

Barberman55

To tell you the truth, when I was a more active bidder on Ebay, I never fully understood that whole Dutch auction bit. Whenever I seen an auction that was Dutch, I just passed on it.

prooflike

With ebay dutch auctions, all the bidders pay the lowest bid

i.e. 4 items

1 bid @ $1000
1 bid @ $900
1 bid @ $850
1 bid @ $5

all four would be billed at $5 each.

relayer

It depends on the coin and opening price, but from your example I'd say it's a bad idea.

First it cheapens them because if you got so many they must be commonly available.

And If there are 3 people interested in paying a reasonable price, then everybody who wanted one would get one at the lowest price anybody would pay.

If there are 3 people interested in one coin, it will sell for what the highest bidder would pay. Just list the four coins one a week.

I think a Dutch auction is only good when you have a common coin that you want a fixed price for. If you listed 10 2005-S 5c starting at price you can make a profit on then it's good, but not for coins where you expect them to be bid up

markglicker

Buyers are confused by the Dutch auction. Better to pass.