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 19:02:33 GMT
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Viewed:
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1866 times
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In lugnet.market.theory, Eric Joslin writes:
> In lugnet.market.theory, Adam Hoekwater writes:
> >
> > Wait, do you mean "if the winner retracts his offer" or "if the current high
> > bidder retracts his bid"? Are we talking about completed auctions now? I
> > think
> > that if you placed the second highest bid, and the highest bidder retracts
> > his
> > bid, and the auction hasn't ended yet, then you are the high bidder and will
> > be required to buy it. At least that's how I see it.
>
> Winner. If the winner retracts his bid. After the auction is closed. There
> isn't a winner until the auction is closed.
>
> eric
Weird, I didn't know eBay accomodated bid retractions on closed auctions.
Seems kind of futile to put in a bid retraction _after_ you've entered a
binding contract to buy the item.
-Adam
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