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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Tue, 27 Apr 1999 02:19:17 GMT
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Reply-To:
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lpien@ctp.iwantnospam.comNOSPAM
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Viewed:
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783 times
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Here's a real example of why you should have to beat the top of a proxy
by the min increment.
On serious collector, check out lot A 1382:
http://www.seriouscollector.com/auction/lot.cfm?lotID=A1382
A1382 Lego Dacta Bonanza: Controller, P/S, ISA Card, Lab Kits (2)
maico $55.50 $55.00 $55.00
I bid this with a solid proxy bid of 55.00. Seems to me that if Maico
can beat my bid by 50 cents, I shouldn't have to beat his by 3.00 (after
applying rounding rules against a bump of 5%).
Nothing against Maico, he's bidding under the rules, but I'm still not
happy.
--
Larry Pieniazek http://my.voyager.net/lar
FDIC Know your Customer is wounded, thanks to you, but not dead...
See http://www.defendyourprivacy.com for details
For me: No voyager e-mail please. All snail-mail to Ada, please.
- Posting Binaries to RTL causes flamage... Don't do it, please.
- Stick to the facts when posting about others, please.
- This is a family newsgroup, thanks.
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Message has 1 Reply:
Message is in Reply To:
 | | Proxy ratcheting: How do auction systems work?
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| I (as well as all other participants) got a note from Ian Bishop in early March about a proxy quandary that had arisen. Seems he had a bidder that had bid 285 (a winning bid at the time) with proxy cap of 300. Someone else subsequently bid 300. Ian (...) (26 years ago, 19-Apr-99, to lugnet.market.auction)
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