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 23:07:33 GMT
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Viewed:
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880 times
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In lugnet.market.auction, Rose Regner writes:
> Last post, I promise.....
Don't, please. If this is your last post, then discussion stops, and people
start posting auction announcements here again <duck and cover> ;-)
> I guess I cannot see how my theories have been proven false in prior
> postings. I am not trying to start a war of words. I would just like to
> understand where the problem is.
Here is an argument (of mine) pulled from a previous thread. It shows one (of
many) of the problems with fixed-end auctions.
"I don't know about other people, but I tend to go into an auction (more often
a parts auction than an auction server, but the principle still applies) with
two things. A maximum budget, and a list of things I want. so if I'm looking
at A and B, and have a maximum of $20.00, there's a huge variety of prices
that can apply. Most of the options open to me involve being able to
reconsider either lot when I get outbid. If I go with your logic above, I bid
$10 on each, and leave it. What if A goes for $12 and B goes for $3? I've
only got 1 lot that I wanted, and I still had budget available. If I was able
to re-evaulate each time I got outbid (i.e. not a snipe-able system), I could
keep bidding on lot A for another 5 bucks.
I know there's some holes in the logic, but the point is there. I usually
know how much I'm willing to spend on something, but I can't very readily
predict how much I _can_ spend on something. Does that make sense?"
> Are you opposed to how e-bay fixed-end auctions treat the seller or the
> buyer?
>
> If the buyer's side is the bad case, I still feel that everyone has a
> "maximum" amount above which they will not pay. If you are addressing the
Yes, but my maximum amount on two lots together may be more than my budget.
If I don't have the opportunity to re-evaluate each time I am outbid, I have
to predict, in advance, how much of my budget goes to each lot. I think it is
unnecessary to point out how wildly prices on e-bay can vary.
Maybe you're psychic, but I'm not.
> issue of your $100 bid getting beaten by someone at $101, I would respond by
> saying that your "maximum" was not your "maximum". If one does not hold firm
> with a decision on a maximum to pay for something, they are my dream buyer!
> If a buyer cannot resolve his/her own problem with holding to a decision, I
It isn't a matter of holding to a decision, it's a matter of managing a set
amount of money across several lots that have fluid prices.
> would re-think purchasing at auctions. It all boils down to discipline.
No, it boils down to economics.
> If it is the seller's side that you are speaking to, things are much easier:
> If I am selling an item for $100 and someone wants to pay me $1 more for the
> same item, I say great.
Yes, but the person who wants to pay 100 may discover than he has more money
from savings elsewhere, and decide he is willing to pay $102. (or whatever)
Fixed-end auctions encourage bidders to wait until as late as possible to bid
on an item, so as to minimize the chances of being outbid, thereby getting the
price for less than market value(1). This does not benefit the sellers in
terms of greatest income.
James
http://www.shades-of-night.com/lego/
1: "market value" being loosely defined as the price an item will reach in an
open system - in other words, the most someone (not necessarily you) will pay
for it.
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Message has 2 Replies:
 | | Re: [DISC] Shortcircuit eBay?
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| (...) people (...) (of (...) often (...) with (...) looking (...) bid (...) able (...) could (...) I understand the dilemma, but just because you may want 2 different items and have a fixed maximum, and I only want one and have the same amount to (...) (26 years ago, 27-Apr-99, to lugnet.market.auction)
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Message is in Reply To:
| | Re: [DISC] Shortcircuit eBay?
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| Last post, I promise..... I guess I cannot see how my theories have been proven false in prior postings. I am not trying to start a war of words. I would just like to understand where the problem is. Are you opposed to how e-bay fixed-end auctions (...) (26 years ago, 27-Apr-99, to lugnet.market.auction)
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