Frequently Asked Questions
What can I buy or sell with Dutch eAuction?
Dutch eAuction is a web-based application that implements a top-down online auction process. Buyers and sellers can negotiate the price of almost anything in a secure and easy-to-use interface. Dutch eAuction is currently implemented only for motor vehicles. Contact us if you would like to buy or sell something else.
How often are auctions held?
Auctions happen every day. If your vehicle doesn't sell in one auction it is automatically entered in the next unless you explicitly exclude it. If you don't get the vehicle you want today, try again tomorrow.
How do I sign up?
Anyone can sign up right here by clicking the "Sign Up" button. Contact us if you wish to upgrade to a seller account. Approval is usually given with 24 hours and you can start entering your vehicles right away on time for the next auction.
How much does it cost to use Dutch eAuction as a buyer?
Placing a bid on a vehicle is completely free for buyers, however if you do end up winning the vehicle and then fail to contact the seller within 18 hours, you will be charged a $20 deposit on your credit card to secure the vehicle with the seller. This $20 deposit will be refunded when you pick up your vehicle from the seller.
Why is a credit card required to place a bid?
A credit card is required to place a bid on a vehicle so that if you end up winning the vehicle but then fail to contact the seller within 18 hours, you will be charged a $20 deposit. Additionally the credit card requirement helps to avoid abuse of the system by limiting bidding to serious buyers.
What is unique about Dutch eAuction?
In contrast to the common English type of auction where bids proceed from the bottom up, Dutch eAuction is a top-down online auction process. The seller sets a visible asking price that bidders can see before the auction starts. Each bidder sets a secret bid at the price that they are willing to buy the item. When the auction starts, the seller's price drops at pre-set increments over a short period of time until it meets the highest secret bid among all the bidders, or the seller's reserve price.
What are the advantages?
Dutch eAuction allows buyers to simultaneously bid on anything that interests them while making sure that they get what they want without spending more than their budget. Buyers can take their time to browse all the vehicles for sale and select the ones that best meet their needs. Last minute sniping is a thing of the past. Once their bids are set, buyers can relax and watch or go about their other business and be notified later of the results. This process produces an optimal match between buyers and sellers so that everyone gets a better deal.
How long does it take to list a vehicle?
Dutch eAuction has all the latest wizardry to guide you through a car listing in short order.
Simply enter the basic information about the vehicle and we can immediately populate many of the fields from out extensive database. You might find it even easier than other popular vehicle advertising venues.
Who are the buyers?
Thousands of people showed up from the BC Lower Mainland at our inaugural auction on July 17, 2015. We are happy to create auctions for special groups as needed.
How long is the auction?
You can place your secret bid any time before the auction starts. Once the auction starts, the time it takes depends upon the number of items but it typically can take between 10 - 30 minutes.
It's not necessary to be present but it’s fun to watch the prices drop until one of them meets the bid on a vehicle that you are bidding on.
Do I know who is bidding?
Bidding at Dutch eAuction is completely anonymous to everyone except the buyer and seller when a vehicle is sold.
What is a reserve price?
Sellers set a secret reserve price on every vehicle that they list. If no one bids that much the vehicle will not sell and you can try again at the next auction.
Who can list?
Anyone who has vehicles to sell, just contact us to get started.
What devices do you support?
Dutch eAuction delivers the best experience on large screens but you can operate it on any device with a modern web browser and internet connection.
What if I forget my Password?
Request a new password by clicking the link for "Forgot Your Password?" on the sign in window. If you have forgotten your username you can contact Dutch eAuction at email@example.com.
What are your plans following the inaugural auction on July 17, 2015?
Dutch eAuction will continue holding auctions every day. If your vehicle didn't sell in the last auction, it is automatically re-entered in the next day's auction. If you didn't get the vehicle you wanted today, try again tomorrow.
How is Dutch eAuction related to Smartsettle?
Smartsettle employs a Visual Blind Bidding process for formal negotiations using optimization to produce fair and efficient outcomes. It uncovers hidden value and virtually eliminates the tedious negotiation dance that characterizes ordinary negotiations. Dutch eAuction is an implementation of the Smartsettle process for auctions with multiple buyers and sellers.