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 18:21:01 GMT
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Viewed:
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1883 times
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Todd Lehman wrote:
>
> In lugnet.market.auction, Todd Lehman writes:
> > In lugnet.market.auction, Frank Filz writes:
> > > 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...).
> >
> > Against the actual bid, not the proxy bid. Nobody sees your proxy bid anyway
> > except you the bidder.
>
> Probably should also allow retraction of the actual bid at no penalty if done
> within, say, 5 minutes or something like that, and if no one else has yet
> counter-bid with information based on your mis-bid.
>
> Probably should also make you go through 1 extra confirmation page for every
> order of magnitude that you up the bid by. IOW, if the high bid is $7.50 and
> you bid $775 (and you meant to bid $7.75), it should make you go through two
> "Are you REALLY sure" screens... :)
Although that would be annoying to the first person to bid on a
Metroliner or some such (which if I was auctioning off, I would start at
$1 on eBay, no reason to pay excess listing fee..., yet a serious first
bid should be at least $100).
Probably though a single extra are you sure screen would be enough,
actually, one could make the bidder retype their bid (which should clue
them in that the bid was a problem...). It could even be nice and detect
that they correctly put the decimal point in the 2nd time, and just
throw up a simple confirmation, sort of like the following simulated TTY
interface:
Item 355213 - 10 red classic 1x4x2 windows
Current bid: $1.00 by Gary Istok
Do you wish to bid [Y/N]? Y
Your bid? 1000
Your bid of $1000.00 seems rather high, please retype to confirm:
Your bid? 10.00
You perhaps mistyped your first bid of $1000.00 when you intended a bid
of $10.00 as you typed the 2nd time, if this is correct, press Y,
otherwise press N
Bid of $10.00 correct [Y/N]? Y
Thank you for your bid of $10.00,
You have been outbid
Item 355213 - 10 red classic 1x4x2 windows
Current bid: $11.00 by Gary Istok
Do you wish to bid [Y/N]? N
--
Frank Filz
-----------------------------
Work: mailto:ffilz@us.ibm.com (business only please)
Home: mailto:ffilz@mindspring.com
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Message has 1 Reply:
 | | Re: Bid retractions (was Re: eBay dead again)
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| (...) [snip] Ebay already does this. You type in your bid, then you get a revue screen where you see your bid and then have to confirm your intention. I don't see where yet another page would help the process if you already missed it on the (...) (25 years ago, 23-Mar-00, to lugnet.market.theory)
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Message is in Reply To:
| | Re: Bid retractions (was Re: eBay dead again)
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| (...) Probably should also allow retraction of the actual bid at no penalty if done within, say, 5 minutes or something like that, and if no one else has yet counter-bid with information based on your mis-bid. Probably should also make you go (...) (25 years ago, 23-Mar-00, to lugnet.market.theory)
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