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Subject:	Re: Proxy ratcheting: How do auction systems work?
Newsgroups:	lugnet.market.auction
Date:	Wed, 21 Apr 1999 18:14:31 GMT
Reply-To:	LPIEN@antispamIWANTNOSPAM.CTP.COM
Viewed:	1100 times

Steve Bliss wrote: > > 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. 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 the rounding rules (as I understand them) The bid increment is 15%. Are you willing to take the item to 575 or thereabouts to win it back? Why should you have to spend 75 bucks to top them if they only spent 50 cents to top you? Remember, SC uses fixed percentage bid increments. It's early in the life of the site, Bev is sharp and Derick is eager to please. Let's thrash this out now. > So the problem with eBay once again come back to the fact that it is based > on fixed ending times. Well, that's ONE of the problems. -- Larry Pieniazek http://my.voyager.net/lar FDIC Know your Customer is wounded, thanks to you, but not dead... See http://www.defendyourprivacy.com for details For me: No voyager e-mail please. All snail-mail to Ada, please. - Posting Binaries to RTL causes flamage... Don't do it, please. - Stick to the facts when posting about others, please. - This is a family newsgroup, thanks.

Message has 4 Replies:

		Re: Proxy ratcheting: How do auction systems work?
(...) increment (...) make (...) Now wait, screwed by who? To blame the auction system is just a way of shifting the blame - you knew before hand when the auction would end and could at any time have raised your proxy, if you were willing to pay (...) (26 years ago, 21-Apr-99, to lugnet.market.auction)

		Re: Proxy ratcheting: How do auction systems work?
(...) Yea, brother! --Todd (26 years ago, 21-Apr-99, to lugnet.market.auction)

		Re: Proxy ratcheting: How do auction systems work?
(...) 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)

		Re: Proxy ratcheting: How do auction systems work?
(...) 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)

Message is in Reply To:

		Re: Proxy ratcheting: How do auction systems work?
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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