 | | Re: Proxy ratcheting: How do auction systems work? —Larry Pieniazek
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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? —John DiRienzo
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| | | | | (...) 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)
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| | | | | | | Re: Proxy ratcheting: How do auction systems work? —James Brown
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| | | | | | | (...) I don't know about other people, but I tend to go into an auction (more often a parts auction than an auction server, but the principle still applies) with two things. A maximum budget, and a list of things I want. so if I'm looking at A and (...) (26 years ago, 21-Apr-99, to lugnet.market.auction)
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| | | | | | | | | Re: Proxy ratcheting: How do auction systems work? —Todd Lehman
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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? —Steve Bliss
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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? —Paul Foster
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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? —Tom Stangl
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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? —David Zorn
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| | | | | | | | | Tom Stangl wrote in message <371FAADA.E4CD7369@n...pe.com>... :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 (...) (26 years ago, 23-Apr-99, to lugnet.market.auction)
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| | | | | | | | | | Re: Proxy ratcheting: How do auction systems work? —Steve Bliss
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| | | | | | | | | (...) That's not sniping, that's just bidding. Arrangements are nice, but they have to run with the acknowledgement that other people might bid on the lots in question. It still sucks to be you in that case. Steve "You keep using that word. I do not (...) (26 years ago, 23-Apr-99, to lugnet.market.auction)
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| | | | | | | | | | Re: Proxy ratcheting: How do auction systems work? —Mike Stanley
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| | | | | | | | | (...) I have to admit that I have jumped into bidding when items his G2 before, but I never thought of it as sniping. Many times there are lots that I am interested in, but don't really have the time or the inclination to deal with the nickel and (...) (26 years ago, 25-Apr-99, to lugnet.market.auction)
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| | | | | | | | | | Re: Proxy ratcheting: How do auction systems work? —Tom Stangl
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| | | | | | | | No, I just talking about the case where someone comes in after the bids have settled for a while, and bids on them at G2. You outbid them, they wait for G2, and bid again. You outbid them, they wait for G2 (lather, rinse, repeat)..... Get the idea? (...) (26 years ago, 25-Apr-99, to lugnet.market.auction)
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| | | | | | | Re: Proxy ratcheting: How do auction systems work? —Todd Lehman
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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? —Todd Lehman
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| | | | | | | | (...) But I'm not bidder. --Todd (26 years ago, 5-May-99, to lugnet.off-topic.pun)
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| | | | | | | Re: Proxy ratcheting: How do auction systems work? —Steve Bliss
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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? —Todd Lehman
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| | | | | (...) Yea, brother! --Todd (26 years ago, 21-Apr-99, to lugnet.market.auction)
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| | | | | Re: Proxy ratcheting: How do auction systems work? —Derick Bulkley
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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? —Steve Bliss
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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? —Mike Stanley
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| | | | | | | (...) Hrmmm, I'm coming in late here, so I'll probably say something and find 10 people who say the same thing later in the thread. Sure, the sellers pay the fees. But if the bidding increments are so high that they repeatedly scare off or prevent (...) (26 years ago, 25-Apr-99, to lugnet.market.auction)
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| | | | | | | | | Re: Proxy ratcheting: How do auction systems work? —Larry Pieniazek
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| | | | | | | | Mike Stanley wrote: <snip> (...) Mike very succinctly said what I intended to say in a much more long winded way. My point exactly. I think percentage bumps are a great option but I would also like to see dollar amounts allowed too. Or even both on (...) (26 years ago, 25-Apr-99, to lugnet.market.auction)
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| | | | | | | Re: Proxy ratcheting: How do auction systems work? —Steve Bliss
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| | | | | | (...) Saw Mike and Larry's posts, and it reminded me to respond to this point: It's actually the buyers who pay the bills. No buyers means no income. Steve (26 years ago, 26-Apr-99, to lugnet.market.auction)
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| | | | | Re: Proxy ratcheting: How do auction systems work? —Steve Bliss
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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? —Derick Bulkley
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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? —John DiRienzo
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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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| | | | | | Re: Proxy ratcheting: How do auction systems work? —Steve Bliss
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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? —Mike Stanley
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| | | | (...) That is good to know. So the sellers can shoot themselves in the foot if they're selling high dollar items or they can be smart, but the system doesn't force them to do one thing or the other. I still think making buyers happy is as important (...) (26 years ago, 25-Apr-99, to lugnet.market.auction)
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