Vickrey auctions are really neat! It seems like everyone walks away feeling like they got a good deal.
Kevin Lynagh wrote a great blog post about how he convinced a friend to sell a portion of his inventory of small-run of mechanical keyboards via Vickrey auction.[0]
The friend normally sold the keyboards for $500, but the winners of the Vickrey auction paid $1,668. They were all willing to pay substantially more, too, with the highest bidder offering $2,684.
Kevin Lynagh wrote a great blog post about how he convinced a friend to sell a portion of his inventory of small-run of mechanical keyboards via Vickrey auction.[0]
The friend normally sold the keyboards for $500, but the winners of the Vickrey auction paid $1,668. They were all willing to pay substantially more, too, with the highest bidder offering $2,684.
[0] https://kevinlynagh.com/notes/pricing-niche-products/