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This was a different model from eBay, which has buyers bid against one another. The pre-order feature allowed buyers to set a price and quality rating of a particular item they would like to buy. Sellers saw the pre-order listed when they put an item up for sale and could sell it to the buyer if they agreed with the buyer's price.
At first glance, this seems equivalent to English auction: apparently, in an English auction, it is a dominant strategy for each buyer whose price is above the displayed price, to always bid the minimal allowed increment (e.g. one cent) above the displayed price, so the price should increase continuously.
When selling an item, users proceed through a six-step process, prompting the user to: Choose between creating a Dutch Auction or a Fixed Price Sale. Choose a category for their listing and up to 3 subcategories. Enter a listing title, brand name, condition, and a detailed description of the item. Set their pricing.
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Amazon Haul is an "experience" in the Amazon app that offers really cheap items for sale. Really, really cheap. ... to an order. Take 5% off orders $50 and over, and 10% off orders $75 or more ...
Unlike in a conventional auction, the final price is typically much lower than the value of the item, but all bidders (not just the winner) will have paid for each bid placed; the winner will buy the item at a very low price (plus price of rights-to-bid used), all the losers will have paid, and the seller will typically receive significantly ...