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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)
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| | Re: Proxy bidding mechanics questions...
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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)
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| | Re: Proxy bidding mechanics questions...
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(...) 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)
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| | Re: Proxy bidding mechanics questions...
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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)
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| | Re: Proxy bidding mechanics questions...
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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)
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| | Re: Proxy bidding mechanics questions...
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(...) 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)
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| | Re: Proxy bidding mechanics questions...
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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)
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| | Re: Proxy bidding mechanics questions...
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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)
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| | Re: Proxy bidding mechanics questions...
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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)
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| | Re: Proxy bidding mechanics questions...
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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)
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| | Re: Proxy bidding mechanics questions...
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(...) 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)
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| | Re: Proxy bidding mechanics questions...
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(...) 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)
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| | Re: Proxy bidding mechanics questions...
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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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