n. (1) An auction having several of the same item up for bid at once, with a minimum bid. Bidding starts with people offering a fixed price at or above the minimum for a certain number of, or all of, the items available. Highest offered price wins, regardless of how many items were bid on by that bidder, and winners then descend by final offered price.
A feature unique to this style of auction is that, if a lower-bidding participant bid for x items, but due to higher-bidding winners could only buy fewer than x, he has the right to back out and purchase none at all.
(2) a form of auction similar to the above, once but no longer held on eBay, in which the same rules were generally followed, with rules for bid times and final winning prices calculated slightly differently.
A feature unique to this style of auction is that, if a lower-bidding participant bid for x items, but due to higher-bidding winners could only buy fewer than x, he has the right to back out and purchase none at all.
(2) a form of auction similar to the above, once but no longer held on eBay, in which the same rules were generally followed, with rules for bid times and final winning prices calculated slightly differently.
They had ten signed NFL footballs up at the stadium that they were dutch auctioning off for charity- one guy got 5, one got 2, and I got 3 and paid the least!
by Lt. Commander Data March 7, 2011
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by uttam maharjan July 10, 2010
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Get the aucine mug.A person who looks at legal goods and pays for as many as 50 items. He goes to an auction and makes 3x.
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Get the Auckram mug.describes the inability to avoid auctions and their accompanying behaviors. Auctionitis may be benign, where one may find an item which is necessary is cheapest at auction, or, acute where in combination with shopaholicism the sufferer experiences a painful, penniless, clutter-world where Oprah would be unwelcomed.
Please, extend my credit line so I can bid on that pair of Ferragamo boots, my auctionitis is acting up.
by rankstorn March 4, 2014
Get the auctionitis mug.Behavior found in men, mixed equal parts machismo and autism. Usually involves questioning the masculinity of other individuals and theorizing about the effect of said masculinity on the subject of attracting females.
by P.D.W.Ross January 11, 2017
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