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 20:46:58 GMT
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Viewed:
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1754 times
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Todd Lehman wrote:
>
> In lugnet.market.theory, Todd Lehman 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.
> >
> > I would never use any auction system that _required_ me to be held to a bid
> > in such a way. I'd love to have the _option_ to place my bids in such a way,
> > but for that to be the default, no way...that's just yet another formula for
> > anguish among bidders.
>
> BTW, if I understand what people are saying about eBay, if you do get stuck
> with one of your old bids that got reinstated at the end because some other
> bloke reneged at the end, do -can- renege on your bid, yes? You don't go to
> eBay jail or anything like that, you just get negative feedback or somesuch?
Once the auction is ended, the ONLY binding contract is the high bid. If
the high bidder reneges, the seller is allowed to contact you, but you
are under no obligation to accept.
If the auction has NOT ended, and someone retracts their bid, you are
mildly screwed. If you notice before the auction ends, you can retract
your bid, and then, unless someone who cares has a completed auction
with you that they haven't yet given you feedback for, they can't give
you negative feedback. If you don't notice until the auction is over,
you're at the mercy of the seller, and could get negative feedback if
you don't satisfy them.
--
Frank Filz
-----------------------------
Work: mailto:ffilz@us.ibm.com (business only please)
Home: mailto:ffilz@mindspring.com
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Message has 1 Reply:
Message is in Reply To:
 | | Re: Bid retractions (was Re: eBay dead again)
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| (...) BTW, if I understand what people are saying about eBay, if you do get stuck with one of your old bids that got reinstated at the end because some other bloke reneged at the end, do -can- renege on your bid, yes? You don't go to eBay jail or (...) (24 years ago, 23-Mar-00, to lugnet.market.theory)
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