Subject:
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Re: Garage doors (from lugnet.market.auction)
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Newsgroups:
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lugnet.market.theory
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Date:
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Mon, 20 Sep 1999 11:19:27 GMT
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Reply-To:
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LPIENIAZEK@NOVERA.COMspamless
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Viewed:
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460 times
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Sorry if I'm not being very clear. Let me try again.
One NEVER reveals the amount of proxy bids, because they are supposed to
be secret. That's the idea. Even when you reveal that "Larry has the lot
of Duplo Giraffes at 12.00 and it is G1" you never reveal that Larry's
proxy is 14 or 23, as to do so is to give away information that properly
OUGHT to be secret.
However, many auctioneers make each current high bid public, or reveal
the bids that held the lot at one point or another. That sort of
information might do more to shake out sellers.
Not doing so is perfectly fine, it just makes the auction sealed bid. My
point is that I *think* (with no evidence to back it up) that open bid
auctions yield more for the seller (the bids get higher) and yield more
items for sale subsequently as other potential sellers get the idea that
there might be money to be had.
Again, let me reiterate, it's your auction and you can run it any way
you choose. Once you announce the rules (or set them implicitly by
omitting to specify how you do things but then doing things a certain
way) it's not fair to bidders to change them *for that auction*,
although auctioneers sometimes do. Usually, but not always, with the
consent of all the bidders.
Hope that helps.
Jeff Christner wrote:
>
> On Mon, 20 Sep 1999 01:59:52 GMT, Larry Pieniazek <lar@voyager.net>
> wrote:
>
> > Note carefully that I am NOT advocating that you reveal the bids at this
> > point if you set the expectation with bidders that it would be
> > anonymous, I am referring to the "future"... whatever that means.
> >
> > However in reading your initial info I don't recaall you specifically
> > saying it would be anonymous, or that it wouldn't.
> >
> > --
> > Larry Pieniazek larryp@novera.com http://my.voyager.net/lar
>
> I suppose that in the most basic terms I figured that if someone
> offered me a cash to pull the items that I should indeed pull them
> from the auction. I felt at this point, it ceased to be an auction and
> became more of a sale, or perhaps blind auction, if thats the right
> word for it.
>
> It did occur to me that people might in fact want to equal this cash
> offer, but I didn't want to give away what the offer was. The person
> in question made a proxy bid and also a large cash offer. I did give
> others the chance to equal this offer, but I chose to keep the exact
> offer secret as sort of its own proxy bid.
>
> Note though that while I've sold some LEGO via LUGNET, most notabley
> Technic Space Shuttles at well below S&H prices, this is in fact, my
> first ever attempt at an auction. I've only really participated in one
> other auction to date, AucZilla VII IIRC, and I've never, ever, bid on
> anything at eBay. I really didn't (and still don't) have a good
> understanding of auctioning LEGO, so I gathered what I could from some
> of the "standard" auction rules and went to work. If I hold any
> auctions in the future, perhaps I'll amend and smooth over my rules to
> account for cash offers, but I felt my statement about pulling items
> before they got awarded was sort of a catch-all in this situation.
>
> Jeff Christner
>
> Visit Sixby Fire Tech at - http://members.aol.com/regult/
>
> Help support my LEGO habit. Ship by rail.
> Visit http://www.nscorp.com/ to find out how.
--
Larry Pieniazek larryp@novera.com http://my.voyager.net/lar
- - - Web Application Integration! http://www.novera.com
fund Lugnet(tm): http://www.ebates.com/ Member ref: lar, 1/2 $$ to
lugnet.
NOTE: I have left CTP, effective 18 June 99, and my CTP email
will not work after then. Please switch to my Novera ID.
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Message is in Reply To:
 | | Re: Garage doors (from lugnet.market.auction)
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| (...) offered me a cash to pull the items that I should indeed pull them from the auction. I felt at this point, it ceased to be an auction and became more of a sale, or perhaps blind auction, if thats the right word for it. It did occur to me that (...) (25 years ago, 20-Sep-99, to lugnet.market.theory)
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