You list an item, specify an opening bid, and let the market decide what it's worth. Buyers understand the auction process because it resembles the one for most offline auctions. To manage multiple standard auctions, however, you'll need to use the site's bulk listing tools or third-party management software. Dutch auctions, though uncommon, are the best way to unload a gaggle of identical goods. In a Dutch auction, all winning bidders pay the lowest successful winning bid price.
Dutch auctions favor buyers, since higher bidders pay less than the price they bid.
Yankee auctions resemble Dutch auctions, but in Yankees the winning bidders pay the amount they offered. Yankee auctions favor the seller, who moves more items out the door at higher prices. In both Dutch and Yankee auctions, sellers benefit from lower costs and reduced maintenance, mainly because of the volume of merchandise they can off-load quickly. Localized auctions target local buyers rather than a global audience. EBay, for example, hosts local auctions in more than 50 cities, while Yahoo runs overseas-specific auctions in 17 countries.