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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Thu, 23 Mar 2000 15:27:36 GMT
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Viewed:
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1578 times
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Todd Lehman wrote:
>
> In lugnet.market.auction, Carrie Whitcher writes:
> > Let me tell all of you about retractions...Very interesting thing that
> > occured to me on Tues. Now the guy who retracted (2x mind you!) is
> > bidding on ANOTHER large lego lot...
> >
> > Be wary of this guy, good feedback or not. When he retracts because
> > his wife is having pregnancy problems and can't pay $4000
> > but then turns around and bids $2200+...sounds fishy to me.
> >
> > Anyway, I have an AWESOME lego lot to pick up this weekend in Vancouver,
> > and will LYK what's exactly in it! Woo hoo!!
> >
> > Sorry, just ranting and venting about irresponsible bidders...
>
> I think people should have to pay a 10% penalty (10% of their bid) in order
> to retract a bid. And on small amounts, the higher of 10% or $10.
What about missing decimal point bids? I did that once by accident. How
do you assess the 10% penalty (against the actual bid or the proxy - if
by the proxy, retractinc a misplaced decimal bid would cost you 10 times
the max you expected to pay - ooops, person X just got forced into
bankruptcy...).
One way to fix missing decimal point bids is to allow reduction of one's
maximum bid to anything equal to or above the current bid one has the
auction held at.
Also, bids which have been outbid should not be able to be retracted at
all unless all succeeding bids have also been retracted or canceled.
--
Frank Filz
-----------------------------
Work: mailto:ffilz@us.ibm.com (business only please)
Home: mailto:ffilz@mindspring.com
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Message has 2 Replies:
 | | Re: Bid retractions (was Re: eBay dead again)
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| <snipped> (...) I think making bid retraction a habit is bad. However, as a seller, I'd rather a bid was retracted than ending up in a non-payment situation. ebay now tracks bid retractions, this guy retracted bids on SIX of my auctions last week (...) (24 years ago, 23-Mar-00, to lugnet.market.auction)
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