Subject:
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eBay oddity
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Newsgroups:
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lugnet.market.theory
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Date:
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Thu, 3 Apr 2003 23:33:08 GMT
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Viewed:
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1310 times
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I've been interested on an auction on ebay for multiple items, and am a bit
puzzled by the way it works.
I put in a bid for 4 items at (say) $50 each. $50 is a good price for the
sets, and at $50 I'd be happy buying four of them.
I watched the auction over time... initially I was winning four sets, then
three, then two.
Then a bid went in for $51, so I was out of the running. I thought about the
set (it's a good one), and decided that I'd like to raise my bid, but for a
reduced number of sets.
So I entered a bid of 2 items at $75.
I was surprised that eBay rejected my bid because the total of my new bid
($150), was less than my original ($200)... even though the seller stood to
make more money from my revised bid.
I'm not saying eBay has done the wrong thing in any way, and I'm happy to
admit I didn't think through all the implications of placing my first bid. I
just think it's a bit odd.
Has anyone else experienced this?
Can anyone explain the advantage of this system to the seller or eBay?
(I'm not complaining, just interested.)
Cheers
Richie Dulin
ps I've altered the amounts above slightly to maintain the anonimity of the
auction.
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Message has 1 Reply:
 | | Re: eBay oddity
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| (...) It merely is. That's eBay: they can't figure out that on a dutch auction (which is what I presume this is) that if you get completely outbid on all items on a per unit bid, you may wish to up your bid but bid on fewer units. Is it advantageous (...) (21 years ago, 4-Apr-03, to lugnet.market.theory)
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