 | | why eBay proxy bidding is broken —Larry Pieniazek
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| | | A recent auction result: ebart3 (0) Last bid at: $50.01 Date of bid: 10/05/99, 17:52:29 PDT pmfoster (10) Last bid at: $50.00 Date of bid: 09/30/99, 15:31:52 PDT At this price level the bump is a buck. There is NO WAY ebart3 should have gotten this (...) (25 years ago, 8-Oct-99, to lugnet.market.theory)
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| | | | | Re: why eBay proxy bidding is broken —Eric Kingsley
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| | | | (...) Now I am no fan of Ebay but here is one possible scenario as to how this could have happened... 1. Opening bid on box of 20 widgets = $30 2. On 9/30 pmfoster bids $50 but because of proxy bidding price is set at $30. 3. On 10/5 ebart3 comes in (...) (25 years ago, 8-Oct-99, to lugnet.market.theory)
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| | | | | | Re: why eBay proxy bidding is broken —James Brown
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| | | | (...) That is how eBay does it, I believe. However, Larry (among others, myself included) feels that you should be required to exceed the proxy by the minimum bid, not just the current bid. I'll let Larry explain the reasoning behind this, he's (...) (25 years ago, 8-Oct-99, to lugnet.market.theory)
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| | | | | | Re: why eBay proxy bidding is broken —Christopher L. Weeks
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| | | | | (...) I was going to chime in with an explanation like Eric's but now I don't have to. I would be keen to hear an explanation of why one proxy should have to beat another by a full increment. Say I'm selling my car and the current bid is $5,000 and (...) (25 years ago, 8-Oct-99, to lugnet.market.theory)
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| | | | | | | Re: why eBay proxy bidding is broken —James Brown
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| | | | | | | (...) minimum (...) (25 years ago, 8-Oct-99, to lugnet.market.theory)
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| | | | | | | Re: why eBay proxy bidding is broken —Frank Filz
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| | | | | | | (...) A couple points: 1. We aren't saying that the 2nd buyer shouldn't get the item, we are saying that the 2nd buyer should be willing to beat the current maximum bid by the minimum bid increment. 2. Had the 2nd buyer placed a proxy of $51 or (...) (25 years ago, 8-Oct-99, to lugnet.market.theory)
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| | | | | | | Re: why eBay proxy bidding is broken —James Brown
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| | | | | | (...) minimum (...) Well, it's sort of an innate fairness, I suppose, but also partly a difference of opinion about what a proxy bid is. I'll attempt an explanation. 1: eBay as written, allows the system to be cheated. Let's assume, for the sake of (...) (25 years ago, 8-Oct-99, to lugnet.market.theory)
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| | | | | | | | Re: why eBay proxy bidding is broken —Mike Poindexter
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| | | | | | (...) bid of $10 for fifteen identical lots with the current bid at $3. I come along and say, "Wow, look at those!" and bid $12 on one lot, Auczilla will proxy every single lot you have up to $10. That will basically cause some dissatisfaction. (...) (25 years ago, 10-Oct-99, to lugnet.market.theory)
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| | | | | | | | Re: why eBay proxy bidding is broken —Larry Pieniazek
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| | | | | | | (...) I don't beleive it's a flaw or known bug, per se. It is in fact intentional behaviour. See: (URL) to readers in the distant future, that URL may not work. At the time of writing, X was the current auction... if it doesn't try whatever the (...) (25 years ago, 10-Oct-99, to lugnet.market.theory)
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| | | | | | | | | Re: why eBay proxy bidding is broken —Larry Pieniazek
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| | | | | | | | (...) PS, this is why I have stopped bidding on ALL of a given lot type and size, even if I want most of them... let someone else's bid get bumped first. :-) (25 years ago, 10-Oct-99, to lugnet.market.theory)
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| | | | | | | | Re: why eBay proxy bidding is broken —Bruce Schlickbernd
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| | | | | | (...) Auczilla (...) I don't have a problem with Auczilla doing things that way. It saves lots of time because I assure you, if I want one of those 15 lots it saves me lots of time rather than bidding up one, followed by another, followed by.... (...) (25 years ago, 11-Oct-99, to lugnet.market.theory)
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| | | | | | Re: why eBay proxy bidding is broken —Larry Pieniazek
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| | | | (...) preface: eBay can do it whatever way they want. And the URL given later in the thread makes it clear they acknowledge the way they do it may result in a bump. Their place, their rules. My thesis is NOT that they "can't" run things that way, (...) (25 years ago, 8-Oct-99, to lugnet.market.theory)
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| | | | | | Re: why eBay proxy bidding is broken —Mike Stanley
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| | | | | (...) Success isn't always about being best, sometimes it's much more about being first, and as far as I remember, eBay WAS the first major auction site. (25 years ago, 9-Oct-99, to lugnet.market.theory)
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| | | | | | Re: why eBay proxy bidding is broken —Steve Demlow
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| | | | | (...) E-bay now has the popularity/momentum/visibility to do just about whatever they want and continue to get away with it. I find it unfortunate that their somewhat sloppy idea of online auctioning is now considered the standard. Steve (25 years ago, 10-Oct-99, to lugnet.market.theory)
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| | | | | | Re: why eBay proxy bidding is broken —Bruce Schlickbernd
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| | | | | In lugnet.market.theory, Larry Pieniazek writes: <major snippage> (...) My two cents worth (had to outbid that lousy 1 cent raise) is I'm with Larry. In his example, PF bid $50 *first*. It is now incumbent upon any bidder to raise it by the minimum (...) (25 years ago, 11-Oct-99, to lugnet.market.theory)
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| | | | | | Re: why eBay proxy bidding is broken —Naji Norder
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| | | | From a seller's standpoint, a proxy bid is not as powerful as a "FIRM" bid. A proxy is better than a minimum bid (with no proxy) though. High Firm Bid -------- | | (proxies in here somewhere) | | -------- Minimum Bid The question is, where should a (...) (25 years ago, 11-Oct-99, to lugnet.market.theory)
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| | | | | | Re: why eBay proxy bidding is broken —Steve Demlow
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| | | | (...) Yes. I haven't seen any disagreement on this one, except from e-bay. :/ (...) No. Philosophically, AFAIC, a bid is a bid - proxy or not - and shouldn't be retractable. There is also at least one practical problem with proxy retraction: timing. (...) (25 years ago, 16-Oct-99, to lugnet.market.theory)
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| | | | | | Re: why eBay proxy bidding is broken —Larry Pieniazek
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| | | | (...) I tend to say no. Part of a proxy is the notion of what TIME it was given. If I am at 30, have a proxy for 50 which I then raise to 70, it seems to me that the 50-70 part should not be stamped as having the same TIME as the earlier 30-50 part. (...) (25 years ago, 16-Oct-99, to lugnet.market.theory)
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| | | | | | Re: why eBay proxy bidding is broken —Steve Bliss
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| | | | (...) I tend to say yes, with the proviso that the time-stamp gets updated, so the bid looks newer. But I wouldn't give this capability a high priority on the implementation schedule. Steve (25 years ago, 18-Oct-99, to lugnet.market.theory)
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