This could have gone in a number of forums but I guess here is most logical. I have always been intrigued with the 'Dutch auction'. I believe there are different kinds but I am referring to one where the opening price / offer is very high. It is then gradually lowered until someone purchases. I would love to try this with a puzzle but haven't got the nerve, especially as I wouldn't have ebay available to do it on.
I have read that these kind of auctions result in a lower winning bid but in that case I wonder why they exist at all. A normal auction relies on at least two high bidders whereas with a Dutch one you would only need one to get a decent price.
Curious to know what others thought of such an auction.

Sounds like a very interesting idea, I'd love to see it be done with some sort of rare puzzle. Not sure if it would be better, but it's always nice to have an idea of what you're paying before hand, instead of hoping it fits into your price range working from the bottom up.

The main difference is you don't get the build up and tactics of successive bids so you don't get any prior 'signal' of what it might go for (you have no idea how many other people might be interested, or their level of interest/involvement), until it goes with the first (highest) bid. In that respect it's more like a blind auction, with similar results based on people guessing (rather than observing and judging) who might be interested and what they might be willing to pay. It might not get the highest price, but the difference is marginal and the advantage is it's a lot quicker than progressive bidding.