Subject:
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Re: Proxy bidding mechanics questions...
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Newsgroups:
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lugnet.market.theory
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Date:
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Sun, 3 Oct 1999 23:32:24 GMT
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Viewed:
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275 times
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Chris Busse <cbusse@infi.net> wrote:
> QUESTIONABLE SCENARIO: 3. Chris still wants that brick, so he enters a bid
> of $3.00. The system shows him: "Your proxy bid of $3.00 did not beat rae's
> earlier proxy. Current bid is $3.00 for rae". Chris' bid was equal to Rae's
> earlier proxy, but since her bid was earlier she is put in at $3.00. Chris
> now sees that her bid was not incremented higher than his so he knows that her
> max is $3.00. Is it wrong for him to know this? Is this the right way to do
> things?
I think I see what you're getting at but I don't see any other way
to do it. You can't make the current bid $3.10 or $2.90, so it has
to be $3.00. Yeah, that pretty much says, "hey! you hit it right on
the dot!" but I guess you have to accept that.
Now I can see this being slightly annoying for previous high bidders
if people come along and nickle-and-dime their bids up, just to find
the proxy, but it happens. At least in a decently operating auction
the former high bidder gets a chance to come back and re-bid, so I
don't see the worry.
--
The parts you want and nothing else?
http://jaba.dtrh.com/ - Just Another Brick Auction
Why pay eBay? Run your own LEGO auctions for free!
http://www.guarded-inn.com/bricks/
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Message has 1 Reply:
 | | Re: Proxy bidding mechanics questions...
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| Mike Stanley wrote in message ... (...) bid (...) rae's (...) Rae's (...) Chris (...) her (...) do (...) I don't see any problem with revealing proxies when the are met. The only purpose of hiding the proxy is to not reveal information about bids (...) (25 years ago, 4-Oct-99, to lugnet.market.theory)
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