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 19:33:04 GMT
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Viewed:
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917 times
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Steve Bliss wrote:
>
> On Wed, 21 Apr 1999 21:11:53 GMT, "James Brown"
> <galliard@shades-of-night.com> wrote:
>
> > I recently saved a huge amount of time and effort by using firm bids in MA10.
> > Another bidder and I spent about a week dickering back and forth over a lot at
> > $.10 and $.15 increments - until the other bidder did a hard bid, jumping the
> > price $2.00. I responded in kind, (back and forth a bit) and about 3 weeks of
> > bidding war was dealt with in a day and a half.
>
> 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. Sometimes deals can even be worked out--"leave me alone
> on X, and I'll stop bidding on Y".
>
> But a good, strong hard-bid early in the process is very effective.
>
> Steve
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.
--
Paul Foster
http://reality.sgi.com/foster_stco/lego.html
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