Subject:
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Re: Bid retractions (was Re: eBay dead again)
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Newsgroups:
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lugnet.market.theory
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Date:
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Thu, 23 Mar 2000 17:57:16 GMT
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Viewed:
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1811 times
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In lugnet.market.auction, Todd Lehman writes:
> I think when a bid gets bumped, the "bumpee" bidder should have the option to
> (a) have their bid reinstated as the high bid if the "bumper" bidder retracts
> their bid or (b) have their bid tossed (the usual).
I recently participated in an auction on eBay where I was outbid by someone who
later retracted his bid. I had already outbid him though, so my bid was reset
to what it was before I got bumped. I found it odd that my proxy bid was IIRC
still set to my higher bid. In other words, if the high bid was $150 and I
proxy bid $200, I got bumped by $250. I then proxy bid $300 and when the $250
was retracted my bid was set to $151 with $300 as my proxy bid.
On eBay, if someone retracts a bid, is the next highest bidder bound to the
sale? If so, I could see how someone would say "Oh well, missed out on that
one, I'll go bid over here" and get stuck with two of the same thing. That
seems unfair to all involved.
Ben Roller
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Message has 3 Replies:
 | | Re: Bid retractions (was Re: eBay dead again)
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| (...) actually, i happen to just have an outbid notice here, this is what it says: "Of course, your existing bid may be reinstated if this competitor's bid falls through. You can keep an eye on things if there's still plenty time before the auction (...) (25 years ago, 23-Mar-00, to lugnet.market.theory)
| | | Re: Bid retractions (was Re: eBay dead again)
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| (...) That sounds fair to me! I wouldn't want to have proxy-bid $300 and then gone away on a trip and had my proxy bid lowered to $200 because someone reneged on their $250 bid, and then lose out if someone else bids $250 again. (Or would the $300 (...) (25 years ago, 23-Mar-00, to lugnet.market.theory)
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