Subject:
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Re: Interesting way of sabotaging an auction - if the seller is overseas
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Newsgroups:
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lugnet.market.theory
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Date:
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Wed, 28 Jun 2000 07:49:16 GMT
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Viewed:
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684 times
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In lugnet.market.theory, Larry Pieniazek writes:
> 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.
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.
> An early retraction is almost no harm done, i say.
>
> ++Lar
I agree with Larry on this one...bid retractions are annoying...but better
early than later and can't you insert something more in your desription?
(like Kevin said to allay the fears of future bidders)
I got hit with bid retraction fever in my last set of 30 auctions...I got 5
or six notices in 1 hour on a Saturday afternoon, and then more later.
However, these retractions were in the last 1-4 hours...luckily in the last
5 minutes in each auction the bids recovered to almost the same level
(higher in 3 cases from Japanese and French bidders)
Ultiately, analysis of my auctions and comments from customers indicates
that sniping is a major factor in my auctions now...I never know how well a
lot is truly going to end until it does...quite often I have had no movement
for 3 days...then some modest increases in the last 24 hours...then
bang...big jump in values in the last 5 mins.
Bid retraction is happening more frequently to me now as competition
increases and I auction more often...I hope this trend doe not continue.
John
In the utterly wierd and annoying file...
I got a couple e-mails in a 6 month period from 2 seperate bidders saying
I should ship my items for free or throw in alot of extra stuff since the
lots had reached a premium price... I have actually done this a couple times
w/ repeat customers or Lego friends (when shipping was $2 or when I had more
of the same item)
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