Taobao auction/Taobao auction now has two auction forms: incremental auction and Dutch auction:

1. incremental auction: the number of auction treasures is 1, and the auction price is free to bid from low to high. At the end of the auction, the highest bidder wins the auction.

2. Dutch auction: if the auction quantity is greater than 1, the highest bidder will get the treasure first, and the first bidder with the same price will get it first. The final transaction price of the goods is the lowest successful bid. If the number of treasures available to the last winner is insufficient, you can give up buying. (The seller's credit score for publishing Dutch auction goods must be greater than or equal to 11).

Dutch auction example:

1) A seller auctioned off 11 cameras, and the starting price was 1 yuan. 11 buyers each bid for a camera, the bid amount is 1 yuan. In this case, all 11 bidders will win a camera at the price of 1 yuan.

2) A seller auctioned off 11 cameras, and the starting price was 1 yuan. By the end of the auction, there are three winning bidders, one bid for 5 yuan, 1 pieces, one bid for 3 yuan, 1 pieces, 1 bids for 2 yuan, 11 pieces, and the last three bidders will all buy this treasure in 2 yuan. Because the top two bidders bid higher, they can all get the quantity they need (the bidder with the same bid is ranked first). The last bidder can only get 8 pieces because of his lower bid (at this time, there are only 8 pieces left, which can't meet his total purchase, so he can give up buying).

3) A seller auctioned off 11 cameras, and the starting price was 1 yuan. By the end of the auction, there are two winning bidders, one bidding for 5 yuan and 1 pieces, and the other bidding for 3 yuan and 1 pieces. Because their purchase quantity is less than 11 pieces, the transaction will be made at the starting price, that is, 1 yuan.