Subject:
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Re: Bid retractions (was Re: eBay dead again)
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Newsgroups:
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lugnet.market.auction
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Date:
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Wed, 22 Mar 2000 18:37:08 GMT
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Viewed:
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863 times
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Christopher Lindsey <lindsey@nospam.mallorn.com> wrote in message
news:38D90CA0.5B2ABF2F@nospam.mallorn.com...
> Adam Hoekwater wrote:
>
> > No. When the high bid is retracted, the next highest bid will only be • $.50 (or
> > whatever the bid increment is) above the bid BELOW it.
> >
> > So if I bid $1.50, then you bid $30.00, then someone else bids $31.00 • and
> > retracts it, you only have to beat me with $2.00, so you'll drop back • down to
> > $2.00. I hope this isn't the absolute worst way to explain this... oh • well.
>
> Ahhh... That's really silly (or at least annoying). I wonder how many
> people do this to their own benefit -- get one throwaway hotmail
> account to do the retractions, then use my real account to place
> the low bid...
>
> Or maybe that was your whole point.
>
> Ouch! I feel for you on this...
>
> Chris
Maybe you don't even catch the barb on hook... you can't leave the retractor
feedback because you do not complete a transaction!
Another thing is that if an item is $50 and then jumps to $150, people who
would have bid anywhere between $50 and $150 don't bid at all, even if they
want to be on the bid list in case of a retraction. Then, after the bid is
retracted, they have a reduced amount of time to bid. Although I haven't
had a "retraction-snipe," it could happen very easily, although it would be
pretty hard to hide and if somebody is caught doing it, I am sure it would
be grounds for an immediate account suspension. They don't have a term for
it yet (like shilling or sniping), so I don't think it has really happened
too much.
I truly believe in the market price system, so I start almost all of my
auctions at $1. If somebody wanted to, they could catch an auction when it
started and put in 2 bids - an anchor bid and a rocket bid. The anchor
would be something high, like $200 for a space shuttle. This would be the
permanent bid. The rocket would come in next (or first - it doesn't really
matter) for a nice $197.50. That would give the anchor high bid at $200.00.
With only seconds to go, retract the rocket and the anchor gets the winning
bid at $1. No need to worry about snipers, since in the search engines, it
will come up as a technic shuttle - $200. Who would even look at that?
Although that is about as cut and dried as possible, it could happen as well
in less obvious circumstances.
Mike
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Message has 2 Replies:
 | | Re: Bid retractions (was Re: eBay dead again)
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| (...) I've had a retraction snipe... worked very well in my favor :) got the item i wanted for what i was willing to pay for... (and had many surprises too... i only bought it for the monorail, but it had 20lbs of other cool things in it :) I always (...) (24 years ago, 22-Mar-00, to lugnet.market.auction)
| | | Re: Bid retractions (was Re: eBay dead again)
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| (...) A similar pricing problem happens if someone fails to come through on their win, and the seller offers the item to the next highest bidder. The next highest bidder shouldn't necessarily have to pay their bid amount, but also shouldn't get the (...) (24 years ago, 22-Mar-00, to lugnet.market.auction)
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Message is in Reply To:
| | Re: Bid retractions (was Re: eBay dead again)
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| (...) Ahhh... That's really silly (or at least annoying). I wonder how many people do this to their own benefit -- get one throwaway hotmail account to do the retractions, then use my real account to place the low bid... Or maybe that was your whole (...) (24 years ago, 22-Mar-00, to lugnet.market.auction)
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