Everyone has heard of auctions and roughly knows what auctions are. However, to be successful in auctions on Taobao, you should first understand the rules here. Auctions are a way of trading. The seller sets a starting price for the product, and interested buyers bid within a specified time. After the auction ends, the person with the highest bid can get the product. On the contrary, if no one bids before the end of the auction, the product will be unsold.

Starting price

is the lowest transaction price that the seller can accept.

For example: If the seller plans to auction a craft cup, the starting price is set to 1 yuan. At the end of the auction, only one buyer bids, and the product will be sold for 1 yuan.

Increase

is the amount that the buyer who bids increases on the current bid in order to surpass the previous person's bid. When publishing a product, the seller can customize the increase in the increase in the increase in the increase in the increase in the increase in the price of the current bid. The increase in the increase in the increase in the price of the system's automatic agent will increase with the increase in the current bid amount. It is recommended to use the system to automatically increase the price. Please read the specific amount of the increase before bidding.

How much does the system automatically increase the price?

Proxy bidding

As a buyer, Taobao will automatically help you bid upward with the minimum increase amount based on the highest price you entered when bidding, when other buyers bid, to maintain your position as the highest bidder until your highest bid is exceeded by other buyers. The highest price you enter is confidential to other members. The proxy bidding function is only applicable to single-item auctions. Just enter the highest price you can accept when bidding; at the end of the auction, if no one bids higher than you, you are the winner and you will buy the item you want with the current bid amount.

For example: If the seller plans to auction a craft cup, the starting price is set to 1 yuan, and the increase is 1 yuan. As a buyer, you enter 50 yuan when you bid for the first time, and only 1 yuan is shown in the bid record. At the end of the auction, another buyer bids 2 yuan, and the system will bid on your behalf. In the end, the item will be sold for 3 yuan, and you will be the winner.

Single-item auction

First, the seller sets the starting price of the item to be auctioned and the bid increment. Buyers can enter the lowest price required by the system according to their actual situation, or enter the highest price they can accept, and let the system bid on their behalf. At the end of the auction, the highest bidder wins the item.

Multi-item auction (Dutch auction)

On Taobao, if you see two or more items being auctioned at the same time, it means that the seller has chosen the Dutch auction. Unlike single-item auctions, Dutch auctions can have multiple winners.

The simple principle of the Dutch auction is: the one with the highest bid gets the item first, and the one who bids first gets the item at the same price. The transaction price is the amount of the lowest successful bid.

Please note:

If the seller meets the conditions for participating in the Dutch auction, when posting the product, the number of products filled in is greater than 1, the Dutch auction will be used by default. Currently, Taobao has set that only sellers with two hearts or above (including two hearts) can use the Dutch auction. The proxy bidding function does not apply here.

This auction is different from a single item. In order to avoid transaction misunderstandings, please read the auction rules carefully before setting the quantity.

First, the seller sets the starting price of the products to be auctioned and the number of products. All products must meet the same conditions, for example: the same 5 Papa Bears, the same 10 cameras; buyers bid on the product page, enter the required quantity and the price they are willing to pay; all winning bidders pay the same price for each product, that is, the amount of the lowest successful bid. This amount may be lower than your bid; the higher bidder will get the required number of products first; the last winner can refuse to buy products that do not reach the required number. For example, if you bid to buy 5 products and only get 2 after the auction ends, you do not have to buy any of them.

Example of Dutch auction:

Example 1: A seller auctions 10 cameras, and the starting price is 1 yuan.

10 buyers bid for one camera, and the bid amount is 1 yuan. In this case, all 10 bidders will win a camera at the price of 1 yuan.

Example 2: A seller auctions 10 cameras, and the starting price is 1 yuan.

10 buyers bid for one camera, and the bid amount is 1 yuan. Then 3 more buyers bid, and at the end of the auction, the bid record is as follows:

The lowest successful bid amount is 2 yuan, and the 3 winning bidders will buy this item at 2 yuan. Because the first two bidders bid higher, they can get the quantity they need (if the bids are the same, the first bidder will be ranked first). The last bidder bids lower, so he can only get 8 pieces (because he did not get the quantity he needed, he can give up the purchase).

The simple principle of Dutch auction: the one with the highest bid gets the item first, and the one who bids first gets the item first if the price is the same. The transaction price is the lowest successful bid amount.

Taobao reminds all sellers: study the auction rules carefully and set the starting price carefully

Taobao reminds all buyers: bid carefully and buy with sincerity.

Using Alipay to pay can protect your transaction from loss.