 | | 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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(...) 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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(...) 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?
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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?
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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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