Subject:
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Re: a couple of great bid retractions...
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Newsgroups:
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lugnet.market.theory
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Date:
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Fri, 7 Jul 2000 06:31:02 GMT
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Viewed:
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853 times
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In lugnet.market.theory, Toki Barron writes:
> John Radtke wrote:
>
> > You definitely aren't alone. I've been lucky with only one retraction out of
> > about 300 auctions but it was a lame 'no $' hours before close and cost me
> > quite a bit.
I am somewhat reassured and concerned that others are seeing this now...
> > While browsing though I see more people and items with
> > retractions than ever a year ago.
I have not done much browsing lately, but I did see that I was high bidder a
couple of times recently when the bid that beat mine was retracted.
> > Instead of letting bidders do it themselves, a retraction request approved by
> > eBay might be nice. The manpower would likely be prohibitive but then they'd
> > know how it's being abused.
I agree with both comments...I am sure it would be a hard judgement call to
make for the eBay delegate and could possibly lead to auction disutes or
slow downs due to backlogs...
> Well, this might be a crazy idea, but how about if e-bay automatically ended the
> auction when someone retracted and restarted? Or maybe extended the auction by the
> amount of time the retractor had a successful bid? I could see as a bidder it
> would be disappointing, but since I wouldn't be winning the auction anyhow, it
> probably makes me no worse off and actually might increase the chance I could win
> the auction.
I think this is a good idea...I would love the options of :
1. continuing the auction with the same deadline
2. extending the closing date for the time you mentioned above.
3. Ending the auction and relisting.
I will have to investigate the provisions for ending an auction early myself
in the eBay TOS...
> What if a sniper tries to retract a bid?
Well I kinda define sniping as "in the last 1-2 minutes" so I doubt he would
have time to retract...In retrospect snipers have been a formidable
adversary in bidding...and some of my best scores when selling (sniping in
one of my previous auctions literally doubled my gross+net profit in the
last minutes of the lots; multiple snipers drove up the closing prices
extroaordinarily)
> How about when the auction ends and the
> buyer doesn't come up with the $ for whatever reason? What happens then? I am
> curious because I may start e-baying some stuff of my own.
The eBay TOS explains it better, but generally, if a buyer doesn't pay...you
can get your fees back from eBay...BUT
On occasion, this situation is complicated. eBay charges my account before
I recive the money from the auction. This can add up. You also have to try
contacting the person many times and sometimes wait weeks.
a few months ago there were 2 or more people bidding outrageous amounts on
dozens of Lego lots...sabotaging many of the auctions...I am talking 50-100
lots bid up to ludicrous levels by a disturbed individual.
When this type of situation first happened to me, it was on items that later
appeared in large quantities on ebay (for instance, I auctioned an 8480
once, someone didn't pay...I had to pay the $8 to eBay for the auction right
away...after a month, the bidder didn't still pay...when I finally got the
fees back from eBay and prepared to relist the closing price on these
dropped from the $150-$200 range to $100 or less; when all those overseas
and clearance 8480s appeared) A similar situation happened with Castle and
Pirate items later...the winner didn't pay and suddenly many other sellers
had the same stuff driving down the market value.
Also, be aware that when you leave negative feedback for someone, they can
do the same to you...whether or not they are in the wrong. I haven't been
hit with a negative yet...but I have seen good feedback lists soiled by
somone "getting even."
eBay for me is like poor man's stock tradig or"Day-trading for dummies".
There are alot of market forces at work all the time...quite often timing is
everything.
If you start auctioning...try a few small items first and do your research
first. You can also set stricter payment terms than I do...payment in 10
days or else, etc.
John
> Toki
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Message is in Reply To:
 | | Re: a couple of great bid retractions...
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| (...) Well, this might be a crazy idea, but how about if e-bay automatically ended the auction when someone retracted and restarted? Or maybe extended the auction by the amount of time the retractor had a successful bid? I could see as a bidder it (...) (24 years ago, 7-Jul-00, to lugnet.market.theory)
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