The traditional Dutch auction usually sets the starting price but does not set the final price. The effects and impact factors on the seller’s revenue have not been discussed if the final price of online Dutch auction is set to a teeny number (i.e., one RMB) which is termed as an one-RMB Dutch auction. Based on the regret theory and related literature, the effects of starting price, time pressure (one day and 15 minutes of time interval respectively) and product perishability on buyers' choice behavior and the revenue of sellers were examined. The results showed that there is a negative effect coming from the starting price, time pressure and perishability of products and the overall discount rate of product auction; and buyers are more inclined to bid in the penultimate round of the price reduction cycle.