For people who are new to auctions (either in selling or buying) on ebay or any other auctioning sites, chinese auction and dutch auction are two terms that you will most probably come across with.
Some definitions that I’ve been able to find for these 2 terms in ebay is:
– Single-quantity online auction format. A Chinese auction has a Quantity of 1.
For Chinese auctions (Quantity=1, competitive bidding online auctions), Buy It Now lets a user purchase the item at a fixed price and end the auction immediately. On most sites, after a Chinese auction has bids, the listing is no longer eligible for Buy It Now.
– Multiple-quantity online auction format. A Dutch auction has a Quantity greater than 1.
– Some eBay sites also support Buy It Now for Dutch auctions (multi-quantity, competitive bidding), where you can buy multiple items from the same listing at a fixed price, instead of bidding. On some sites, the Buy It Now option remains available for Dutch auctions even after there are bids.
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