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Subject: 
Re: Interesting way of sabotaging an auction - if the seller is overseas
Newsgroups: 
lugnet.market.theory
Date: 
Wed, 28 Jun 2000 07:11:40 GMT
Viewed: 
657 times
  
In lugnet.market.theory, Scott Arthur writes:

I suppose I was annoyed as it happened so early into the auction - when s/he
had so long to ask me about it. I have calmed down now though.

??

Isn't it *better* that it happened early on? The worst retraction is when a bid
so large that it scared everyone else off is retracted at the very last second,
allowing the second bidder to get it for much less

(scenario: opening bid 10. A bids 30, has it for 10. B bids 200. A rebids and
rebids but won't go past 150. So now the bid is at 150. No one else bids
because it's so high. B retracts at the last second, and the bid falls all the
way back down to 10 where A gets it.... exaggerated for effect of course)

THAT's the worst possible retraction.

An early retraction is almost no harm done, i say.

++Lar



Message has 2 Replies:
  Re: Interesting way of sabotaging an auction - if the seller is overseas
 
(...) That scenario happened to me a couple of times...I received e-mail from a couple Lugnet lurkers who said they wanted the lots but the price was outrageus... One lot dropped from $24 to under $10 and never recovered. (...) I agree with Larry on (...) (24 years ago, 28-Jun-00, to lugnet.market.theory)
  Re: Interesting way of sabotaging an auction - if the seller is overseas
 
(...) If he had mailed me, he'd have had 9.5 days to wait for me to reply. Scott A (24 years ago, 28-Jun-00, to lugnet.market.theory)

Message is in Reply To:
  Re: Interesting way of sabotaging an auction - if the seller is overseas
 
(...) I thought about what you said, but then I thought bidders may think "there is no smoke without fire". I suppose I was annoyed as it happened so early into the auction - when s/he had so long to ask me about it. I have calmed down now though. (...) (24 years ago, 27-Jun-00, to lugnet.market.theory)

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