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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Thu, 29 Apr 1999 22:56:18 GMT
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Viewed:
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929 times
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> I concur - if this is an often requested feature, maybe it should be
> implemented. Still, as a seller, I don't like bidders being able to scare
> other bidders away from my auction.
Large jumps delight me. I've had lots that were bickering in the $1
range suddenly be upped by bidder # 1 to $3. Then, after being raised
to $3.10 by #2, the #1 it again to $7. I'm delighted because I wouldn't
expect it to make it that far on the smaller increments - people would
get bored of it too quickly. If the second bidder was willing to pay
$7.10, but doesn't bid because s/he just thinks #1 would double it
again, then I could be losing money. I don't think that would happen,
however, because (in my slightly cynical way) I would expect #2 to WANT
to raise it to $7.10, if only to make #1 pay more for it. When I see a
lot (usually non-Lego) that I want on eBay at a low price, I bid on it,
even if I think the proxy/later bidders will outbid me. I simply want
to make sure the items goes for a decent price - improving the chances
that someone else would offer the same thing later. And if my bidding
happens to take the lot, then I'm happy to win it.
> This is a personal preference, of
> course,
Certainly.
Naji
n (dot) norder (at) computer (dot) org
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Message is in Reply To:
 | | Re: Proxy ratcheting: How do auction systems work?
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| (...) can't (...) new (...) address) (...) I would contest that a more reasonable way to get out of the bid is to let the seller know well before the auction ends that the bidder is unable to pay for what he has bid. Then that bid can be canceled. (...) (25 years ago, 22-Apr-99, to lugnet.market.auction)
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