 | | Re: Proxy ratcheting: How do auction systems work?
|
|
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: (URL) Lego Dacta Bonanza: Controller, P/S, ISA Card, Lab Kits (2) maico $55.50 $55.00 $55.00 I bid this with a (...) (25 years ago, 27-Apr-99, to lugnet.market.auction)
|
| |
| | Re: Proxy ratcheting: How do auction systems work?
|
|
Well in that case I guess you'd have to do some math and make your proxy the amount of percentage it should be in order for them to have to beat you by the percent rate. At least that's what I would do. I think the way it's done now is fair, you (...) (25 years ago, 27-Apr-99, to lugnet.market.auction)
|
| |
| | Re: Proxy ratcheting: How do auction systems work?
|
|
Mookie wrote in message <3725365E.E07AA303@e...pc.com>... <snip> (...) this group), that people should only be able to bid by the increments, as a way to eliminate this. I did see this implemented on an obscure auction, where instead of typing the (...) (25 years ago, 27-Apr-99, to lugnet.market.auction)
|
| |
| | Re: Proxy ratcheting: How do auction systems work?
|
|
Hmm, interesting theory. I bet it doesn't work that way, though. If the gap between the current bid and the top of the proxy is large enough, and a hard bid (or proxy bid with the right top value) is submitted, my overbid can be pushed to an amount (...) (25 years ago, 27-Apr-99, to lugnet.market.auction)
|
| |
| | Re: Proxy ratcheting: How do auction systems work?
|
|
(...) Right. Derick had described the rules and we came up with a theoretical example. This is a real one that impacts me and I'm not too thrilled about it. - I had mentioned to Todd (in (...) That's not a bad system either. (25 years ago, 27-Apr-99, to lugnet.market.auction)
|
| |
| | Re: Proxy ratcheting: How do auction systems work?
|
|
Larry, I think you already pointed this out - I had mentioned to Todd (in (...) Ouch. Chris, you are obscure! And *I* thought it was Jude;-) Check out (URL) (...) (25 years ago, 27-Apr-99, to lugnet.market.auction)
|
| |
| | Re: Proxy ratcheting: How do auction systems work?
|
|
(...) Yeah, that's crap. I think I understand how SC has tried to give somewhat equal treatment to firm and proxy bids, but, in my mind, no matter what kind of bid you make, you ought to have to beat the previous high bid by the minimum increment. (...) (25 years ago, 27-Apr-99, to lugnet.market.auction)
|
| |
| | Re: Proxy ratcheting: How do auction systems work?
|
|
John Neal wrote in message <3725ADE5.EC9DEE90@u...st.net>... (...) (in (...) a (...) Ah, John, I did not call Chris Busse's auction obscure, as it says below, I never found Lego on the referenced site. Thanks for the link, though. (...) -- Have fun! (...) (25 years ago, 27-Apr-99, to lugnet.market.auction)
|
