Online auctions are a core dynamic pricing mechanism that is now used widely in the tourism market, and consumers enjoy the exciting experience of bidding for products and services. The rapid development of the online auction market has lead scholars to call for more research into the factors that influence the results of such auctions and how they are related to consumers’ online bidding behavior. To this end, the current study designs a lab environment and mainly explores the influences of the start bidding price (US$0.33 versus US$60), the number of bidders and promotion programs (low price versus quality) on the results of online auctions of hotel coupons. The research results indicate the following market dynamics. (1) Regardless of whether there is a low or high start-bidding price, more bidders lead to higher end-prices, especially with high start-bidding prices. (2) When a seller provides a higher start-bidding price, the end-prices will be higher. (3) Different promotion programs result in different end-prices, especially when the product characteristics are integrated effectively with such programs. When hotel coupons are the main auction product, they are associated with high-quality leisure and lifestyle factors, thus indicating that the integration of high accommodation quality with quality promotion programs can attract consumers to join the bidding process and lead to higher end-prices. (4) Regardless of whether there is a low or high start-bidding price, winners will always report higher ratings regarding distributive fairness, procedural fairness and information fairness than will losers. The research results have important theoretical and practical implications, which are discussed in the conclusions.