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 19:29:01 GMT
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Viewed:
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6009 times
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In lugnet.market.theory, Ben Roller writes:
> 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 when the $250 was retracted my bid was set to $151 with $300 as my proxy bid.
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 come back automatically in that case? (I wouldn't want it to come
back automatically either, if it did drop back to $200 -- unless I'd told it
to come back automatically...))
> On eBay, if someone retracts a bid, is the next highest bidder bound to the
> sale?
I sure hope not! That would be a great formula for anguish.
> 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.
I agree -- that would be a totally evil auction system. Only if someone
_agrees_ ahead of time to be bound to their bid ought they to be bound to it.
(Some sort of "right of first refusal" option would be nice too.)
--Todd
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Message has 1 Reply:
 | | Re: Bid retractions (was Re: eBay dead again)
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| (...) It does seem that that is how eBay works. For me I don't see it being much of a problem, only very rarely am I bidding on duplicates of an item in an attempt to get one of them, and when I do this, unless the items are close in time, I usually (...) (27 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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| (...) 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 (...) (27 years ago, 23-Mar-00, to lugnet.market.theory)
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