 | | Re: Proxy ratcheting: How do auction systems work?
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(...) I think what ultimately hurts an auction site (or any site, for that matter) is not giving people the features they want. How many IRL auctions have you -ever- heard of that -didn't- allow large bid jumps? The kind of jumps that cause the (...) (26 years ago, 23-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) If you dislike the feature that much, then you shouldn't support the feature. But it is a very good feature nonetheless, because it helps your bidders accomplish what they want to accomplish. (...) You won't make anything less harmful for (...) (26 years ago, 23-Apr-99, to lugnet.market.auction)
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| | ng for auction technologies/theory?
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(...) Is that a case in favor of .market.theory or in favor of .market.tech? In my mind, ethical issues fit much more closely with what .market.theory means but not so much with what .market.tech* means, so ethics would be a case in favor (...) (26 years ago, 23-Apr-99, to lugnet.market.auction, lugnet.admin.general)
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| | Glen's Assorted Lego Auction - 4/22 Update
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*** Many items are now sold. Balance of items will progress every two days until sold if no new bids are received. Can all winning bidders please notify me if you are finished bidding or want to bid on other items so I can let you know the shipping (...) (26 years ago, 23-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) You can't eliminate Firm Bids, PERIOD. If I wanted a firm bid of X in an auction that didn't allow them, I'd bid a Proxy of X-minincr and X. That's a waste of bidder's time, is it not? I personally use Ebay (and of course at least half of the (...) (26 years ago, 22-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) OOPS - I jsut did a "McDonald" - just kidding TOM (26 years ago, 22-Apr-99, to lugnet.market.auction, lugnet.admin.general)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) [snip] (...) Market theory could include algorithms, etc. but my initial reaction is - What makes an auction good, just, fair, well run - it turns into an ethical discussion for me - although that might not be a bad topic for here either. (26 years ago, 22-Apr-99, to lugnet.market.auction, lugnet.admin.general)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) [snip] (...) Market theory could include algorithms, etc. but my initial reaction is - What makes an auction good, just, fair, well run - it turns into an ethical discussion for me - although that might not be a bad topic for here either. (26 years ago, 22-Apr-99, to lugnet.market.auction, lugnet.admin.general)
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| | Re: Proxy ratcheting: How do auction systems work?
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Messages also help when a bidder is trying to bid on ALL lots of a piece, you only want ONE, and after the bids get ridiculously high, you find out it's because he needs "all the lots minus X pieces from the last lot", you only need X or less, so (...) (26 years ago, 22-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) Which is the MUCH more likely use. -- | Tom Stangl, Technical Support Netscape Communications Corp | | Please do not associate my personal views with my employer | (26 years ago, 22-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) Hey, that's a cool name that might work. Are these analysis/theory threads becoming too much to follow in a primiarly-non-discussion group? Are these discussions noise here? If so, then yes, there should be a separate group for this sort of (...) (26 years ago, 22-Apr-99, to lugnet.market.auction, lugnet.admin.general)
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| | Re: Proxy ratcheting: How do auction systems work?
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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 (...) (26 years ago, 22-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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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? (26 years ago, 22-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) 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 (...) (26 years ago, 22-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) 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. (26 years ago, 22-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) 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 (...) (26 years ago, 22-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) 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 (...) (26 years ago, 22-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) That's great! Thanks for pointing this out. Steve (26 years ago, 22-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) 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. (...) (26 years ago, 22-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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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 (...) (26 years ago, 22-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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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 (...) (26 years ago, 22-Apr-99, to lugnet.market.auction)
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| | FA(eBay): Parts lots (windows, treasure, more)
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12 sets of 4 Lego gold coins (URL) windows (8) and doors (4) (URL) fences, umbrellas and rails (URL) inverted slopes (URL) LARGE and small red plates (URL) grey plates (URL) 1x16 tan bricks (URL) (26 years ago, 22-Apr-99, to lugnet.market.auction)
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| | FA(eBay): Technic parts, MANY lots
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Many large Technic wheels and tires (URL) rubber tracks with hubs (URL) Cyberslam special pieces (URL) gears including worms and extra-large (URL) bent round-end beams (38) (URL) round-end beams and other Technic parts (URL) Technic plates (URL) (...) (26 years ago, 22-Apr-99, to lugnet.market.auction)
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| | FA(eBay): Pirate, Paradisa, ninja stuff
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6263 Imperial Outpost MIB (URL) ninja minifigs and equipment (URL) 6414 Dolphin Point (URL) (26 years ago, 22-Apr-99, to lugnet.market.auction)
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| | FA(eBay): Wild West sets and parts
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Wild West parts - Brown log walls (12) and 1x4 (62), 1x2 (85) bricks (URL) West minifigs - 5 cowboys, bank guy, weapons (URL) Cavalry minifigs - 1 officer, 2 NCO's, 4 troopers, plus 3 flags, 8 rifles, 1 sword, 1 pistol (URL) horses with saddles (...) (26 years ago, 22-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) Steve, The Serious Collector allows the selling Member to pick the indrement: 5% 10% or 15% - it is not fixed at X%. The selling Member thus controls the speed of the auction, or rather s/he manages how quickly a lot reaches its "ideal" price. (...) (26 years ago, 22-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) It also helps to be able to send messages to other bidders. A polite "there is no way o God's green Earth you are getting XXXXXX away from me" goes a long way. I've heard of less-polite messages, but I really wouldn't know about those. (...) (26 years ago, 22-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) But live auctions don't end after the first 5 minutes (or however long) of bidding. They run until the bids stop coming in. That's what the typical online G1/G2/Sold auction does, just at a slower pace. You'd have better luck comparing eBay to (...) (26 years ago, 22-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) Ouch! 15% is extreme for a bid increment. So much for me doing much bidding on that site. (...) I would say that overly-large bid increments is a separate problem, but it does help illustrate that no-minimum-increment...-proxy-bid is a Bad (...) (26 years ago, 22-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) Point well taken, Larry. What about the seller though? It's the *seller* that pays the bills... If A's proxy bid is $1000, and the increment is 10%, and B submits a bid of $1075, then under the proposed method, A wins, get ratcheted up to (...) (26 years ago, 22-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) Someone bids $100 with a proxy max of $500. Now it's climbed to $150 and the bidding is still hot, and the high bidder realizes he doesn't have $500 after all (maybe it was a typo, or maybe he was counting on some money to come in which didn't (...) (26 years ago, 22-Apr-99, to lugnet.market.auction)
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| | Update 4/21/99 pm: Pirate Auction
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Hello all, Current bids: 725 Osvaldo Fernandez $40 Going once 6289 Alex Eulen $100 Sold 6289 Otis Anderson $100 Sold 6289 Frank Filz $110 Sold 6263 Frank Filz $22 Sold 6263 Pat Shepard $22 Sold 6263 Mark Parker 2 @ $22 Sold Addendum: Just wanted to (...) (26 years ago, 22-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) Reserve-price auctions are the most nefarious thing ever invented. --Todd (26 years ago, 22-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) WHOA. Darn Good Point. --Todd (26 years ago, 22-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) That makes perfect sense, yes! And you can always scrounge together another $.50 or $1.00 if you really need to at the last moment. This is why it's so important to have a re-review period. There are two things that hurt the most in auctions: (...) (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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(...) Apparently screwed by the other bidder, but actually screwed by the broken auction system. (...) It is correct to blame the auction system. Humans in general will by their nature do whatever they can to work any system to their personal (...) (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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(...) if (...) their (...) any (...) Yes, but, psychologiaclly, this could be detrimental for the bidder, in that people may bid too much, thinking they can always change later. Not having such an option, people must give greater consideration to (...) (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 can only reward someone for delaying if they knew that you had dropped your bid, which they wouldn't know. Also, consider the case when you raise your proxy max rather than leaving it where it is. --Todd (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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(...) Yea, brother! --Todd (26 years ago, 21-Apr-99, to lugnet.market.auction)
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| | [Auction] 1977-1984 sets update April 21th 1999
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Advances are on-going. First sets will go to sold in 2 days, unless news bids are received :) Open sets ---...--- Set Name Bid Bidder 210 Cowboys (US set# 198) 5 Rufus G2 214 Road repair 6 Rufus G2 231 Hospital 50 Pat G2 256 Police officers and (...) (26 years ago, 21-Apr-99, to lugnet.market.auction)
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