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  Proxy bidding mechanics questions...
 
I'm currently adding proxy bidding to my bussetech.com auction system and I have some questions for the group regarding proxy bidding mechanics. When someone has a higher proxy than your bid, should their bid be increased one increment above your's (...) (25 years ago, 3-Oct-99, to lugnet.market.auction, lugnet.market.theory)
 
  Re: Proxy bidding mechanics questions...
 
I don't see # 2 as correct. Rae had her bid in first, so if Chris bid $2.00, Rae should have the winning bid at $2.00, NOT $2.10, because she has the earlier bid. You shouldn't increment her's OVER his hard bid, just equal to it. So if you write (...) (25 years ago, 3-Oct-99, to lugnet.market.theory)
 
  Re: Proxy bidding mechanics questions...
 
(...) I think I see what you're getting at but I don't see any other way to do it. You can't make the current bid $3.10 or $2.90, so it has to be $3.00. Yeah, that pretty much says, "hey! you hit it right on the dot!" but I guess you have to accept (...) (25 years ago, 3-Oct-99, to lugnet.market.theory)
 
  Re: Proxy bidding mechanics questions...
 
Tom Stangl, VFAQman wrote in message <37F7CC74.A8398FA1@vfaq.com>... (...) I think every proxy system I have seen increments the previous proxy bid by one increment above any new bid (of course the bid increment on eBay is based on the previous (...) (25 years ago, 4-Oct-99, to lugnet.market.theory)
 
  Re: Proxy bidding mechanics questions...
 
Mike Stanley wrote in message ... (...) bid (...) rae's (...) Rae's (...) Chris (...) her (...) do (...) I don't see any problem with revealing proxies when the are met. The only purpose of hiding the proxy is to not reveal information about bids (...) (25 years ago, 4-Oct-99, to lugnet.market.theory)
 
  Re: Proxy bidding mechanics questions...
 
(...) of (...) was (...) I hope Rae isn't the first bidder here. If she is then the current bid should be $1.00. (...) shows (...) bid (...) up by (...) IMHO the system message to Chris should't mention names. Also, I think that in the case of a (...) (25 years ago, 4-Oct-99, to lugnet.market.theory)
 
  Re: Proxy bidding mechanics questions...
 
Chris Busse wrote in message ... (...) increased (...) set (...) 2x4 (...) of (...) was (...) shows (...) bid (...) by (...) So far so good, I would agree with everything that you've said so far. (...) bid (...) rae's (...) Rae's (...) her (...) do (...) (25 years ago, 4-Oct-99, to lugnet.market.theory)
 
  Re: Proxy bidding mechanics questions...
 
In situations where a challenger's bid does not beat the current proxy, set the new bid to the challenger's max. That reveals the least amount of information. And is easily, fairly described: "if a challenger's bid fails to overcome the current (...) (25 years ago, 4-Oct-99, to lugnet.market.theory)
 
  Re: Proxy bidding mechanics questions...
 
I had the same problem the other day, so I took a look at Todd's rules... I'd suggest that your item 2 is INCORRECT _because of_ item 3 - Rae's bid is $1.10 (hidden proxy $3.00)... Chris bids $2.00... system wants to apply Chris's bid at $1.20, but (...) (25 years ago, 4-Oct-99, to lugnet.market.theory)
 
  Re: Proxy bidding mechanics questions...
 
First off -- thanks to everyone for their help on this!... (...) Jon Hayward noticed this too. Example 1 is how my auction has always worked in the past -- that you have to bid one increment above the opening price. The opening price + 1 increment (...) (25 years ago, 4-Oct-99, to lugnet.market.theory)
 
  Re: Proxy bidding mechanics questions...
 
(...) This is what I see as a flaw in several of the auction scripts out there. If the opening bid is $1.00, then I bid on it, dammit I should be able to bid *$1.00*, not $1.10. It's annoying, I hope most of the people running the scripts fix it. (...) (25 years ago, 7-Oct-99, to lugnet.market.theory)
 
  Re: Proxy bidding mechanics questions...
 
(...) I hear you and I understand where you're coming from, especially since EveryAuction works this way, so that means both JABA and BRICKS do as well. But really, what's the big deal? If I want something to open at $1.00 I start it at $0.90 with a (...) (25 years ago, 7-Oct-99, to lugnet.market.theory)
 
  Re: Proxy bidding mechanics questions...
 
It's a perception flaw though - from the buyer's perspective, it rankles that you're already "paying more than you should have to". And once I'm a seller on BRICKS, it's going to annoy me to have to remember to lower all the opening bids ;-) (...) | (...) (25 years ago, 7-Oct-99, to lugnet.market.theory)

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