Confused about Buck knife "Dutch Auction"

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So what if someone places a bid for all ten and is higher than any other bid?
Does he pay the top price for all of them, or does he only pay an increment of the next lower bid for the number of items the next lower bidder bid on?

 

[JD Mandrell]

So what if someone places a bid for all ten and is higher than any other bid?
Does he pay the top price for all of them, or does he only pay an increment of the next lower bid for the number of items the next lower bidder bid on?

Your bid is "per item" then you can choose to buy 1 or all that are available.

So yes, if there are 10 items available, and your top bid "per item" is $100.00, if you want all ten, then you pay $1000.00 ($100.00 per item).

If say you only want 7, then you pay $700.00 and there are 3 left.

If the next highest bidder was $98.00 "per item", then if he wants to, he can buy 1,2 or all 3 of the remaining items at $98.00 each.

In the auction in question, "pittsburghphil" was the highest bidder, with a bid of "$137.99" and he chose to only buy 1 at that price. The next highest bidder "paulzombie" was the next highest bidder at "$110.52" and he only bought 1,...and on and on, each bidder only took 1 and paid his highest bid for it.

Basically in a "dutch auction" of this type, your higher bid is for the privilege of getting to choose how many of the item you want first.