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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Thu, 22 Apr 1999 01:40:14 GMT
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Viewed:
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1075 times
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On Wed, 21 Apr 1999 19:53:33 GMT, "John DiRienzo"
<jdiri14897@email.msn.com> wrote:
> ... I tend to look at it more like a live
> auction. You go to an auction, hang out til what interests you is being bid
> on and then bid on it. You don't bid a week in advance, and you don't call
> in a new bid every couple days. Its much simpler and faster this way.
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 a silent auction, where you spend
the evening browsing around the lots, place your bids, and the bidding
closes at a specied time. But in live silent bids, you can see someone
making a last-minute streak for your coveted lots, and you have some chance
to respond.
Steve
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