1. What is a Dutch timed auction?

A Dutch timed auction is an auction format where each lot starts at a set opening price and the price automatically decreases at fixed time intervals (for example, every hour). The auction ends when a buyer purchases the lot, the reserve price is reached, or the auction period expires.

2. How does the price decrease work?

Once the auction starts, the price of the lot drops by a predetermined amount at regular intervals. This continues for a defined period or until the reserve price is reached. The current price is always visible, allowing buyers to decide whether to buy immediately or wait for a lower price—bearing the risk that someone else may buy it first.

3. Can I buy a lot immediately at the current price?

Yes. At any time during the auction, you can purchase the lot instantly by accepting the current price shown. Once the lot is purchased, the auction ends immediately and the item is sold.

4. What is a Buy For (or price offer) and how does it work?

Instead of buying immediately, you can enter a price you are willing to pay for the lot. If and when the auction price drops to your entered amount, the lot is automatically sold to you—provided no other buyer entered the same price before you.

5. What happens if multiple people enter the same price?

If more than one buyer enters the same price, priority is given to the buyer who submitted that price first. Timing matters, so entering your desired price earlier increases your chances of securing the lot.