Merchants Auction Seller lists two or more identical items in one auction, entering a minimum bid amount for each. The items are sold to one or more successful bidders at end of auction duration . Bidder meets or exceeds the sellers minimum bid amount, also entering their desired item quantity . The high successful bidder is reserved their desired item quantity at end of auction duration. Remaining item quantities are passed down in order of bid amounts.
All successful bidders pay the same final item price as determined by the low successful bidder.
Bidding ties are decided by the earlier bid taking precedence. As the high successful bidder, bidder 3 got all of their desired quantity of 4 radios. As the low successful bidder, bidder 1 set the final item price for all successful bidders and got 6 of their desired quantity of 10 radios. Bidder 2, even though bid above the sellers minimum, bought none because bidders 1 and 3 gained precedence with higher bids, leaving no remaining item quantity. As the high successful bidder, bidder 3 got their desired quantity of 10 tools.