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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Sun, 25 Apr 1999 16:36:33 GMT
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Reply-To:
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cjc@newsguy.com/nospam/
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Viewed:
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1092 times
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Derick Bulkley <dbulkley@SeriousCollector.com> wrote:
> In lugnet.market.auction, Larry Pieniazek writes:
>
> > The bid increment is 15%. Are you willing to take the item to 575 or
> > thereabouts to win it back? Why should you have to spend 75 bucks to top
> > them if they only spent 50 cents to top you?
> >
> > Remember, SC uses fixed percentage bid increments. It's early in the
> > life of the site, Bev is sharp and Derick is eager to please. Let's
> > thrash this out now.
>
>
> Point well taken, Larry. What about the seller though? It's the *seller*
> that pays the bills...
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 bidders from outbidding
people once the bidding reaches a certain level, both the sellers and
SC are going to lose out.
And if bidders started to get the impression that the increments were
too high to begin with, bidding might dwindle in general, which would
make less people sell stuff there.
Sellers might pay the bills, but they won't be paying any bills if
they aren't selling things. So any successful auction system will do
its best to make _both_ buyers and sellers happy.
--
Lego Shop at Home: 800-835-4386 (USA) / 800-267-5346 (Canada)
www.lugnet.com/news/ - A great new resource for LEGO fans worldwide
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Message has 1 Reply:
 | | 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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