Subject:
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Re: Ebay sniper? you make the call
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Newsgroups:
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lugnet.market.theory
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Date:
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Wed, 20 Nov 2002 20:41:08 GMT
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Viewed:
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1518 times
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In lugnet.market.theory, John Radtke writes:
> The only thing that gets in the way of this is that people want the
> opprtunity to change their mind. It is not so much last minute bidding that
> deprives you of the chance to change your mind - it is the fact that the
> auction has a fixed end time.
Definitely agree-- For the sake of the buyers, snipe. It WILL result in
lower prices, even though it shouldn't. That way people don't have a chance
to change their minds and make the price go higher.
For Ebay's sake (and for the seller's-- and those who want to change their
minds) I'd LOVE to see Ebay instigate a system wherein auctions don't have a
set-in-stone end time. IE, if a bid is received, the auction extends
time-wise another X mintues. Furthermore, successive bids must be for, say,
1-5% of the item's currently bid price, so you can't extend the auction by
outbidding someone by a penny. Also, might be nice if the longer past the
original end time it gets, the higher the 'necessary bid' percentage gets.
So if you outbid someone 5 minutes past the auction end time, you only need
to outbid by 1%, but if you're 6 hours past the auction end time, you need
to outbid by 50% or something (such that it would shortly get ridiculous
enough that people wouldn't bother unless they REALLY REALLY wanted it--
which I'm sure Ebay and the sellers wouldn't mind...
Anyway, it'd just be nice if someone outbid me at the last second (say),
that I had more than 3/8 of a second to re-snipe. Say, 1 hour at first, then
45 mintues, then 30 minutes, then 20, then 15, 10, 8, etc., for each
successive bid recieved. And of course this system would need the seller to
be able to put a stop to it, obviously... Since in some cases I'm sure the
seller's engineer the auction end times specifically, and don't want them
running an extra 4 hours.
DaveE
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Message has 1 Reply:
 | | Re: Ebay sniper? you make the call
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| (...) Interesting idea. Escalating the bid increment would definitely help bring the auction to a close. Also, you're probably right that a few minutes is really all the auction has to be extended. Making the escalating bid increment be based on the (...) (22 years ago, 20-Nov-02, to lugnet.market.theory)
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Message is in Reply To:
| | Re: Ebay sniper? you make the call
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| (...) Where was it ever written or explained that the way ebay is 'intended' to work is by bidding early and often? I would argue just the opposite. They are fixed end time auctions. The only thing that functionally has any meaning is being the high (...) (22 years ago, 20-Nov-02, to lugnet.market.theory)
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