 | | 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 (...) (25 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 (...) (25 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: (...) (25 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. (...) (25 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. (25 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 (...) (25 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 (...) (25 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 (...) (25 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 (...) (25 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? (...) (25 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 (...) (25 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 (25 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 (...) (25 years ago, 22-Apr-99, to lugnet.market.auction)
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