 | | Re: HUGE Auction, Train, Technic, Town and Pirates!
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Just a note to thank the many people who have bid thus far! The auction is exceeding my expectations at this point, but there are still many apparent bargains. Assuming the following lots sell for reasonable prices, I will be adding more next week. (...) (26 years ago, 21-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) it (...) proxy. (...) So in a similar scenario to the one Larry's pointed out - if I come along with a $200 firm bid (and a $250 maximum) just before your phone bill arrives, then I don't get the shuttle, and your firm bid shoots up to $250. (...) (26 years ago, 21-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) Sorry - I actually meant to say that some replies had indicated that AucZILLA doesn't work _in the way Larry had described_, not that it doesn't work (full stop). Reading through my last posting, there was a comma after 'work' which shouldn't (...) (26 years ago, 21-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) Well, I can appreciate the technical elegance but I'm not sure I think this is a good thing or not. Basically you're saying that as a bidder, you can retract the "secret" part of your bid, as long as it hasn't been revealed yet. In your (...) (26 years ago, 21-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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The bidding mechanism also has some new functionality. Assume the current lot is open with no bids and a $10 minimum. Next, assume it is an Airport Shuttle - built once. I make a firm bid of $150, fine. I then make a proxy bid of $400. The net (...) (26 years ago, 21-Apr-99, to lugnet.market.auction)
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