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 Administrative / General / 2757
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Subject: 
What makes an something an auction
Newsgroups: 
lugnet.admin.general, lugnet.market.buy-sell-trade, lugnet.market.auction, lugnet.market.theory
Followup-To: 
lugnet.admin.general
Date: 
Wed, 1 Sep 1999 15:30:21 GMT
Viewed: 
428 times
  
In lugnet.admin.general, "Rufus T. Falkenstein" <rufus@uni-muenster.de>
writes:

Larry Pieniazek wrote:

TWO posts to bst within an hour that really are auctions. How ironic
that the second one appeared *after* my post to admin.general asking
about dropping the blurry line...

Rufus is a very solid, reliable trader, long time RTLer, and generally
nice guy so certainly no harm was intended I am sure. And no criticism
of Rufus is intended by me!


thanx larry,

i've noticed too that i've posted to the wrong group. thanx to mike p.
too for pointing me to my sin ;-)

i swear it will not happen again.

now: do i post it again in l.m.auction or let it where it is now? your
opinion, guardians?


Dietmar/Rufus,

I think you were perfectly fine posting to .market.buy-sell-trade.  I've
read and re-read your message three times and I don't see anything that
makes it into an auction.

Your post didn't contain the word "bid" or the word "auction" or anything
else of that nature which would indicate that your intentions were to hold
an auction.  And since you (I assume) don't plan to post updates solicting
higher offers, it's definitely neither an auction update nor an auction
announcement.

What makes something an auction is a cycle of solicting offers, then
publishing those offers to interested buyers (either via a post or via
private emails), and then using those offers to generate progressively
higher offers -- in other words, pitting buyers against one with the chief
objective being to maximize the selling price.

Simply offering something for sale and honoring the best offer does not
inherently make something an auction.  Honoring the best offer among
multiple offers is simply being smart.  And taking first-come-first-serve
of something rare (like a single set) is not only cruel, but also unwise.
For example, you might even define "best offer" as someone in your own
country or continent offering 20% less than someone halfway around the globe
offering 20% more.

By the way, there is a class of so-called "sealed-bid auctions" where you
only get one bid.  Those actually *aren't* auctions; they're actually just
OBO ("or best offer") sales with the initial asking price set lower than the
expected offers.  This is kind of like what you're doing, if I understand
your intentions.

Here are some examples of things in .buy-sell-trade which actually *are*
auctions:

   http://www.lugnet.com/market/buy-sell-trade/?n=1687
      This is an auction which just happens to accept bids in the form
      of sets as trade.  It's an auction because offers are periodically
      published for the purpose of soliciting progressively higher offers.

   http://www.lugnet.com/market/buy-sell-trade/?n=2386
      This is an auction because it mentions bidders outbidding one
      another.  Presumably, the seller plans to contact people privately
      to let them know that they were outbid, but it's still an auction
      even if updates aren't posted publicly.

--Todd

[followups to lugnet.admin.general]



Message has 1 Reply:
  Re: What makes an something an auction
 
Disagree. A single round sealed bid auction is still an auction. (URL) Larry Pieniazek larryp@novera.com (URL) - - Web Application Integration! (URL) Lugnet(tm): (URL) Member ref: lar, 1/2 $$ to lugnet. NOTE: I have left CTP, effective 18 June 99, (...) (25 years ago, 1-Sep-99, to lugnet.admin.general)

Message is in Reply To:
  Re: fs: 9V train sets
 
(...) thanx larry, i've noticed too that i've posted to the wrong group. thanx to mike p. too for pointing me to my sin ;-) i swear it will not happen again. now: do i post it again in l.m.auction or let it where it is now? your opinion, guardians? (...) (25 years ago, 31-Aug-99, to lugnet.admin.general, lugnet.market.buy-sell-trade)

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