Subject:
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Re: Proxy ratcheting: How do auction systems work?
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Newsgroups:
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lugnet.market.auction
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Date:
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Wed, 21 Apr 1999 16:18:49 GMT
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Viewed:
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868 times
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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 I can't be sniped at the last minute, I
don't care. If someone beats me by a small amount or a large amount, if
I'm still willing to bid higher, I will. But if I don't have time to make
another bid, I (and the seller) are effectively screwed.
So the problem with eBay once again come back to the fact that it is based
on fixed ending times.
Steve
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Message has 1 Reply:
 | | 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 (...) (25 years ago, 21-Apr-99, to lugnet.market.auction)
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