Dutch Auction
In a Dutch auction the seller offers more than one identical item for sale, so that there may be more than one winning bidder. Each bidder can bid for all the items or only some of them. However, all winning bidders need to pay only the lowest qualifying (successful) bid. If there are more successful bids than items available, priority goes to bidder with the highest bid. If bidders have the same highest bid, priority goes to the bidder who submitted their bid first.
In order to beat a competing bidder, one must bid a higher price per item than that competitor, regardless of the number of items that are being bid for. Here is an example of how this might work:
The seller auctions 5 identical items.
- Bidder "A" bids for 2 items at $20 each.
- Bidder "B" bids for 4 items at $21 each.
- Bidder "C" bids for 3 items at $18 each.
The outcome of this auction would be:
- Bidder "B" wins 4 items at $20 each.
- Bidder "A" wins 1 item at $20 each.
The price is $20 because that was the lowest successful bid.
About the Vendor
KW Flowers
28 LAUREL ST.
Phone: 519-742-3545
View Vendor Website
Description
No cash value. Not to be used with other offers. Flowers not exactly as shown. Delivery extra. Must be redeemed after March 27 and before July 27, 2018. Not to be used towards wedding flowers.
Pick-up 28 LAUREL ST, Waterloo 519-742-3545.
Pick-up also available at 460 Frederick St. Kitchener 519-742-4292.
Payment
In order to prevent fraudulent bidding, we require a valid Visa, MasterCard, or American Express credit card to place a bid on any auction item. This credit card will be automatically processed to pay for the auction item if you are the winning bidder.
In the event that your credit card fails to process, we will attempt to contact you, as a courtesy. However, we reserve the right to cancel this transaction.
Tax Information
Winning bidders are responsible for all additional taxes or duties associated with the item. The appropriate taxes will be applied to all winners, residents of Ontario, Newfoundland, New Brunswick and Nova Scotia and all residents of other Canadian provinces and territories.
Fulfillment
If you are the winning bidder, your winning bid plus any applicable taxes will automatically be processed on the credit card you have on file. Once payment has been processed, you can download your PDF claim voucher at recordauctions.ca in "My Account". Your voucher will include instructions on how to redeem your item.
If you have any questions about the auction, please email us at auctionsupport@therecord.com.
Auto Extend
If a bid is placed during the last 5 minute(s) of an auction, the auction will be automatically extended for an additional 5 minute(s) from the time of the latest bid. This auction will close once all bidding activity has stopped for a period of 5 minute(s).
NOTE: Current Bid Amount and Countdown Timer are not "live." Click Refresh to update them or to see if the auction has been automatically extended by a last minute bid.
Bid Increment
The bid increment indicated is the minimum amount needed to raise the bid. You are free to bid any amount as long as it is higher than the current bid plus the bid increment.
Dutch Auction
In a Dutch auction the seller offers more than one identical item for sale, so that there may be more than one winning bidder. Each bidder can bid for all the items or only some of them. However, all winning bidders need to pay only the lowest qualifying (successful) bid. If there are more successful bids than items available, priority goes to bidder with the highest bid. If bidders have the same highest bid, priority goes to the bidder who submitted their bid first.
In order to beat a competing bidder, one must bid a higher price per item than that competitor, regardless of the number of items that are being bid for. Here is an example of how this might work:
The seller auctions 5 identical items.
- Bidder "A" bids for 2 items at $20 each.
- Bidder "B" bids for 4 items at $21 each.
- Bidder "C" bids for 3 items at $18 each.
The outcome of this auction would be:
- Bidder "B" wins 4 items at $20 each.
- Bidder "A" wins 1 item at $20 each.
The price is $20 because that was the lowest successful bid.
