Elipson Chroma 400 RIAA BT Turntable - Black (OPEN BOX)
• OPEN BOX
• Tone arm repaired. Repair is Visible.
• A new, quieter motor, as well as an improvement to its shock-absorbing decoupling
• Improved flatness with new two-part platform
• Improvements to electronic cards
• Fresh finishes
Shipping available at extra charge, contact Gibbys directly
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Fulfillment
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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.
