Subject:
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Re: [DISC] Shortcircuit eBay?
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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 13:35:58 GMT
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Viewed:
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722 times
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On Tue, 27 Apr 1999 02:16:00 GMT, Larry Pieniazek <lar@voyager.net> wrote:
> Steve Bliss wrote:
> >
> > Interesting. Except I'd rather not void an otherwise valid-bid. And I
> > don't care if newcomer enters late in the game. They just have to be able
> > to hold the bid for the X minutes required before I close the auction.
> >
> > Basically, I think the auction would turn into a live auction for the last
> > 24 hours.
> >
> > But, I doubt that people would keep up with intense bidding for very long.
> > If it looked like they were going to do so, I would check back later (like
> > after 30 minutes or so). Once the bidding stops, I would go ahead and
> > close up shop.
>
> What if bidding is perking along at a rate just short of lasting long
> enough to close down, and you run off the end of the time period?
> Whoever has it then wins. Back to where you were before. Snipers still
> can win.
This is a problem in my idea, but I don't think it would actually come into
play in real life.
I'm assuming X is relatively short, like 5-10 minutes. But even if it is
relatively long, like 1-2 hours, I wouldn't expect that bidders could keep
bumping the high bid up every X-1 minutes for 24 hours straight (not that
I'd watch for 24 hours straight). Someone would put in a serious proxy
bid, and that would be the end of it.
But maybe a combination of my idea and Mitchell's idea would work.
Starting 24 hours before EOA, I'll watch for an X-minute (or longer) break
in the action. When it happens, I close the auction. If it doesn't
happen, and the auction ends at the scheduled time, I reserve the right to
not honor bids made by last-second new-comers. And people who weren't
involved in the final bidding frenzy.
Also, if people keep bidding during the final 24 hours, and time runs out,
I'm likely to realize a higher selling price than if I had used eBay's
regular auction-ending approach. So between the thought that I tried to
improve a flawed system, and a larger payoff, I could live with the pain of
selling to a sniper.
Steve
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Message is in Reply To:
 | | Re: [DISC] Shortcircuit eBay?
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| (...) What if bidding is perking along at a rate just short of lasting long enough to close down, and you run off the end of the time period? Whoever has it then wins. Back to where you were before. Snipers still can win. (26 years ago, 27-Apr-99, to lugnet.market.auction)
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