 | | The four types of markets (was Re: Reverse (buyer's) auction for train windows and other parts
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Well, I have to say that your use of the term "reverse auction" is a bit confusing. Normally, "reverse auction" refers to Dutch or descending-price auctions in which all bids come from buyers (and the bid *falls* over time), not auctions in which (...) (25 years ago, 4-Aug-99, to lugnet.market.auction)
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| | Re: The four types of markets (was Re: Reverse (buyer's) auction for train windows and other parts
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You're right. Reverse auction is a misnomer. What we have here is more like a commodities market except we don't have any sellers visible, we have not yet shaken any loose. Well, tell you what, just to try to shake some loose here... and this is not (...) (25 years ago, 4-Aug-99, to lugnet.market.auction)
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| | Re: The four types of markets (was Re: Reverse (buyer's) auction for train windows and other parts
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As eBay uses Dutch auction, the price still increases; your bid for X dollars covers fewer and fewer units as the per-unit bids increase. I think I have seen the price-descending auction termed a "Yankee Auction" at some computer auction sites. (...) (25 years ago, 4-Aug-99, to lugnet.market.auction)
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| | Re: The four types of markets (was Re: Reverse (buyer's) auction for train windows and other parts
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(...) Not quite, in eBays dutch auction, you specify a quantity and bid. Your bid is what you are willing to pay PER item. For instance, if there are 25 widgets up for auction, and you bid $4 for quantity ten, your maximum bid is $40. If there were (...) (25 years ago, 5-Aug-99, to lugnet.market.theory)
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| | Re: The four types of markets (was Re: Reverse (buyer's) auction for train windows and other parts
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Hey Larry, These are wonderful prices, very realistic. Mark H. (...) (25 years ago, 5-Aug-99, to lugnet.market.auction)
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| | Re: The four types of markets (was Re: Reverse (buyer's) auction for train windows and other parts
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They're not meant to be realistic (although I WILL sell at those prices) they're meant to prod someone into saying "holy smokes, I'll sell my parts for a lot less than that!.. here are my offers to sell." My offers to buy (or Mike Ps or Mike Us or (...) (25 years ago, 5-Aug-99, to lugnet.market.auction)
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| | Re: The four types of markets (was Re: Reverse (buyer's) auction for train windows and other parts
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(...) wrote: (...) I would call both of these "standard" auctions simply because it's the buyers who outbid each other. This is true even for auctions where all the buyers bid at the same time (which I call "closed silent" auctions) because the bids (...) (25 years ago, 25-Aug-99, to lugnet.market.theory)
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