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 Marketplace / Theory / 2478
  Re: Ebay sniper? you make the call
 
(...) If the intent was for everyone to submit bids at the last possible minute, with no opportunity to react to others bids, then they could have chosen a completely standard auction format, the sealed bid auction. In a sealed bid auction, you may (...) (22 years ago, 20-Nov-02, to lugnet.market.theory)
 
  Re: Ebay sniper? you make the call
 
The problem with ebay is that it is trying to simulate a live auction (as opposed to a sealed bid auction) on a worldwide basis. Now a normal auction is held in one place and all the bidders (or their agents) are present throughout the auction. (...) (22 years ago, 24-Nov-02, to lugnet.market.theory)
 
  Re: Ebay sniper? you make the call
 
(...) Kerry, That's a really well written analysis. Some problems with open ended bidding: - a day may not be enough - too long an extension results in auctions which do drag out (Serious Collector had this problem as I have mentioned before) I (...) (22 years ago, 25-Nov-02, to lugnet.market.theory)

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