Subject:
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Re: Why sniping hurts, and why with proxy bidding people still snipe
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Newsgroups:
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lugnet.market.theory
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Date:
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Thu, 18 May 2000 01:28:19 GMT
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Viewed:
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862 times
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Hao-yang Wang wrote in message ...
> With proxy bidding, sopposely you set the maximum price you want to bid, • then
> stick to it. You should never engage in a bidding war personally -- If
> somebody bids lower than your maximum bid, the system will raise your bid
> automatically; If somebody bids higher than your maximum bid, you should • let
> him get the item. Either way it is clear-cut. Sniping is not an issue --
> Whether you get outbid three days or three seconds before the auction ends
> should make no difference in the final result.
>
> Really? No, it is not that simple.
>
> So sniping hurts. But sniping can happen only in auctions with a hard
> deadline. Since ebay is such a high-volume auction site, it is • understandable
> that they don't want an auction to stay on their list forever. However, I
> think they can improve their service by providing the limited extension as • an
> option. For example, after 5 days into the auction, the auction gets into • the
> going-1, going-2 mode, in which each bids will extend the auction for one • more
> day. However, there is also a 10-day hard deadline that keeps the auction • from
> being listed forever.
As far as auction venues go, it is worth pointing out one in which sniping
does not exist. It is eliminated by design by having a re-settable auction
clock. Not one that ends early but one that actually is extended whenever
last minute bids are made.
This is an awesome auction site, but there has not been Lego traffic there
for some time which I feel is unfortunate.
Many of you reading this know what site I am talking about, but here is the
URL:
http://www.seriouscollector.com/
_______________________________________________________
Kevin Salm
....The biggest fan of the Gray Lego brick....
_______________________________________________________
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