Subject:
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Re: Thoughts on having preferred customers in auctions
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Newsgroups:
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lugnet.general
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Date:
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Fri, 29 Jan 1999 02:39:38 GMT
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Viewed:
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845 times
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Michael Ulring wrote in message <36AE9BC8.CC361301@email.uc.edu>...
:2. My preferred bidders will bid higher than they would otherwise
:because they are always mentally including their discount in their
bids,
:thus driving the price higher than it might otherwise reach. Then if
:the preferred bidder doesn't win, the winning bidder pays more than
they
:really should have [2].
First of all, I agree with you. It is your stuff and you can do
whatever you like.
However, I think that the point above is the biggest problem.
I've actually done some studying of various auction schemes. One of
the important things about an auction is that each incremental price
communicates information to everyone else. If that price is not really
the price for a secret set of people then the "auction" is certainly
atypical and you'll end up alienating people and in the long run
driving away bidders. One of the most important characteristics of an
auctioneer is equal treatment of bidders. A bad reputation in a
competitive auction market is an auctioneers undoing.
The suggestions of right of first refusal and reservation prices seem
superior to me to the idea of giving a secret list a % off.
DJ Zorn
To locate scans of official instructions
for discontinued sets only go to:
http://www.kl.net/scans/
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