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Types Of Auctions

Regular Auction

For Selling Things A The Highest Price To Sell Them All Starting At A Certain Price

Everybody Can Bid On As Many As They Want But Has To Buy That Many At That Price If They Aren't All Sold At A Higher Price In Which Case You Buy What You Bid For At That Price. The Last Person To Bid At The End Gets The Remainder At The Bidding Price Or None At All.

Reverse Auction

Price Goes Down In Increments To A Certain Price And When All Are Claimed Are Sold To The Bidders

When Somebody Bids They Have To Pay At The Price When There Are Enough Bids To Sell Them All. The Last Person To Bid At The End Gets The Remainder At The Bidding Price Or None At All.

Consortium Proof Auction

Everybody Secures 1 At A High Price To Get 1 Or See If They Can Get A Lot At A Lower Price When Agreeing To The Structuring And Buying Into The Auction

Due To The Structuring When Enough Are Guaranteed Sold In The Reverse Auction The Price Goes Down An Increment And For Every Increment A Certain Amount Have To Be Bid In Total At Any Price For The Bidding Price To Go Down. As The Bidding Price Goes Down Bidders May Want To Secure More Causing The Price To Go Down To Secure The Auctioneer's Liquidation Profitability Doing The Auction. When They Are All Sold In Which Case The Last Person To Bid At The End Gets The Remainder At The Bidding Price Or None At All, When There Are Not Enough Bids To Secure The Price Going Down, Or When The Liquidation Minimum Is Reached Everybody Gets The Items They Bid For And Has To Pay At The Final Bidding Price.

ALL BIDDING IS FINAL AND MEANS YOU HAVE TO PAY AT THE FINAL PRICE!!