Price Reveal Auction represents sub-type of the Dutch auction, a pay-per-bid auction in which the current price of the item auctioned is hidden. Bidders can privately observe the price only by paying a fee, and every time a bidder does so, the price falls by a predetermined amount.
Every Reveal Price Auction starts at Retail Value of the item (Auction Worth). each time a user clicks SHOW PRICE the price will drop.
How do Reveal Price Auctions work?
Push the Show Price button.
The current price will be revealed.
Timer counts down from 15 seconds.
If the price appeals to you, press the Buy Now button.
If you do not like the price, do nothing.
Each time the Show Price button is pressed, the price drops.
In this scenario, the price drops by $1.00 each time someone presses the Show Price button.
Once the price appeals to you, press the Buy Now button.
You will be given 30 minutes to complete the purchase.
If the purchase is not completed, the auction will continue.
In the discription of each reveal price auction it will mention a target price, once a target price reached, the auction will not drop any further.
End Date & Time
In the description of each reveal price auction, we will have an end date, if the auction has not sold before end date is met, auction will close without a winner.
Using CoinPayments on This Auction
The reason we give 30 minutes to complete your checkout is that coinpayments needs a few confirmations from the coins sent to be marked as paid. Please allow for a minimum of 20 minutes for coinpayments confirmation.