 | | Re: Proxy ratcheting: How do auction systems work?
|
|
Todd Lehman wrote in message ... (...) unable (...) as (...) to (...) I don't know if eBay spends ANY time policing their system. I am sure they do, but its not evident. The feedback thing seems to be the main thing thats used. And if you fail to (...) (25 years ago, 22-Apr-99, to lugnet.market.auction)
|
| |
| | Re: Proxy ratcheting: How do auction systems work?
|
|
In lugnet.market.auction, Todd Lehman writes: [snip] (...) From the number of the responses to this and a few other Auction technology threads, maybe we need lugnet.maket.technology group? (25 years ago, 22-Apr-99, to lugnet.market.auction)
|
| |
| | Re: Proxy ratcheting: How do auction systems work?
|
|
(...) Sure, of course it's more honest if the bidder bows out honorable way. But not everyone is going to do that. If you allow people to renege on their high bid without any penalty or record-blackening, the result over time is many frustrated (...) (25 years ago, 22-Apr-99, to lugnet.market.auction)
|
| |
| | Re: Proxy ratcheting: How do auction systems work?
|
|
(...) Sanjay's recent Maersk Truck auction is another good example. One early bidder bid $50 when the rest of the trucks were at $35. The $50 truck sold early and the rest ended up going for more than $50. (25 years ago, 22-Apr-99, to lugnet.market.auction)
|
| |
| | Re: Proxy ratcheting: How do auction systems work?
|
|
(...) But now you're not talking about having to beat the proxy by the increment, you're talking about bidders being unwilling to go to the next increment level. That's a different problem, and happens in every single auction -- they end when no one (...) (25 years ago, 22-Apr-99, to lugnet.market.auction)
|
| |
| | Re: Proxy ratcheting: How do auction systems work?
|
|
(...) But it is possible to bid $10, and see the bid bounce back to the other person at $10. So limiting bids to exact increments won't solve the "revealing the proxy bid" syndrome. I think you were more on track with the approach of raising the (...) (25 years ago, 22-Apr-99, to lugnet.market.auction)
|
| |
| | Re: Proxy ratcheting: How do auction systems work?
|
|
(...) That's great! Thanks for pointing this out. Steve (25 years ago, 22-Apr-99, to lugnet.market.auction)
|
| |
| | Re: Proxy ratcheting: How do auction systems work?
|
|
(...) can't (...) new (...) address) (...) I would contest that a more reasonable way to get out of the bid is to let the seller know well before the auction ends that the bidder is unable to pay for what he has bid. Then that bid can be canceled. (...) (25 years ago, 22-Apr-99, to lugnet.market.auction)
|
| |
| | Re: Proxy ratcheting: How do auction systems work?
|
|
James Brown wrote in message ... (...) the (...) still (...) ebay (...) He did, and so have you. Like the government, everyone complains about it, but I am still glad we have it. I am a tad idealistic myself, but when any system performs its (...) (25 years ago, 22-Apr-99, to lugnet.market.auction)
|
| |
| | Re: Proxy ratcheting: How do auction systems work?
|
|
Derick Bulkley wrote in message ... (...) 10% (...) Hey, that's a good thing to know! That large increment was my biggest complaint today regarding SC - if its adjustable, I think that is definitely a step up from any other on-line auction. 15% is (...) (25 years ago, 22-Apr-99, to lugnet.market.auction)
|
