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 19:07:56 GMT
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Viewed:
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1885 times
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Lorbaat wrote:
>
> In lugnet.market.theory, Adam Hoekwater writes:
> > In lugnet.market.theory, Eric Joslin writes:
>
> > > You aren't considered the "high bidder" if the winner retracts- but the
> > > seller
> > > does get everyone's bids, and it's natural to assume they might contact a
> > > lower
> > > bidder to unload the item.
> > >
> > > In other words, you might get contacted, but not necessarily.
> > >
> > > On the other hand, you also don't get the right of first refusal, either.
> >
> > 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.
I think Ben was talking about an auction which hadn't ended.
If the auction has ended, the runner up bidders have no obligation, but
the seller is permitted to offer the rejected item to them.
--
Frank Filz
-----------------------------
Work: mailto:ffilz@us.ibm.com (business only please)
Home: mailto:ffilz@mindspring.com
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