How do I set up a Dutch auction?

How do I set up a Dutch auction?

To set up a Dutch auction, start by determining the item you want to sell and its initial price.

What should I consider when choosing the starting price?

Consider the item's market value, demand, and how quickly you want to sell it. A higher starting price may attract more bidders.

How do I determine the decrement amount?

The decrement amount should be based on how quickly you want to reach a sale. A larger decrement will speed up the process.

Can you give me an example of a Dutch auction?

Sure! Imagine you have a painting worth $500. You start at $500 and decrease the price by $50 every minute until someone buys it.