Forums-->Ideas and suggestions-->
| Author | Descending Price Auctions in the Market |
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https://www.investopedia.com/terms/d/dutchauction.asp
Have the variant where you put up an art for auction indefinitely, say starting at 100k. Every day it goes unsold, price will fall by 2k (you can specify).
Eventually art will hit the market price and get sold.
Is best for selling old arts that you lack the knowledge to price correctly, and don't want to sell too cheap. This will ensure every art eventually gets sold, at the fair market price. | | Not bad but we already have a buyout auction. In this auction, you can set a buyout price which is theoretically the minimum amount you are willing to sell an item for. So even if you don't know what X art costs, you can set an arbitrary high buyout price that you like such as 200k or 300k and a low starting price. If you don't like the bid amount that was reached at the end of the auction time then you can bid yourself and outbid them.The high buyout price guarantees you will not lose the art until you have had the chance to bid yourself. | | While theoretically that should work, I think far fewer people monitor auctions compared to direct sales. This is a way to integrate the two markets. | | + | | The whole market interface should be improved. Buy orders, sell orders, price tracking etc. |
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