 | | Re: Proxy ratcheting: How do auction systems work?
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(...) It doesn't allow them to withdraw their bid. It allows them to reduce their private maximum. This hurts neither the seller nor the other bidders in any way. (...) A firm bid is a special case of a proxy bid in which the minimum and maximum (...) (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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(...) Allowing someone to lower the "secret" part of the bid (the proxy max) is Definitely a Good Thing. If the min/current is $x and the max/proxy is $y, it's important to let the bidder lower $y -- at any time -- to any value (...) This is (...) (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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(...) Really? Consider this scenario that could happen at SeriousCollector You have an item won, sitting at 400, and your max proxy is 500. Someone outbids you with a hard bid of 500.01 (lucky guess on their part) which gets rounded to 500.50 under (...) (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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On Wed, 21 Apr 1999 13:28:47 GMT, "John DiRienzo" <jdiri14897@email.msn.com> wrote: [stuff about eBay, and proxy bidding, and bid increments] About the issue of whether new bids have to beat the proxy by the increment amount, I say this: as long as (...) (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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(...) assume it (...) net (...) bid of (...) proxy. (...) proxy (...) For all the condemnation eBay recieves, I still believe it is one of the best systems made. The system described above is not good at all, IMO, if it allows a person to make a (...) (26 years ago, 21-Apr-99, to lugnet.market.auction)
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