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 04:00:30 GMT
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Reply-To:
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mookie@SPAMLESSinnocent.com
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Viewed:
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644 times
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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 take your chances if you
don't figure it by the percent increase.
Dons flame retardant suit, though doesn't matter, no one listens to me
anyway :)
Tamy
Larry Pieniazek wrote:
>
> 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 2 Replies:
 | | Re: Proxy ratcheting: How do auction systems work?
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| 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?
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| 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)
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Message is in Reply To:
| | Re: Proxy ratcheting: How do auction systems work?
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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: (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)
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