Subject:
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Re: why eBay proxy bidding is broken
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Newsgroups:
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lugnet.market.theory
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Date:
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Fri, 8 Oct 1999 15:12:35 GMT
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Viewed:
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384 times
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In lugnet.market.theory, Larry Pieniazek writes:
> 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 item for one cent more, he should have had to go to 51.
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 and sees a $30 bid with a minimum bid of $31 and
places a maximum bid of $50.01.
4. Proxy bidding occurs and because ebart3 has out bid pmfoster by $.01 their
bid stands.
In this scenario ebart3 is not bidding $50.01 on something that is allready at
$50. They are bidding on something who's highest bid was $30 with a minimum
bid of $31.
I hope this makes sense. If it does not let me know where my logic is off.
Eric
Remove ".nospam" when replying by E-mail
The New England LEGO Users Group
http://www.nelug.org/
>
> IMHO.
>
> --
> Larry Pieniazek larryp@novera.com http://my.voyager.net/lar
> - - - Web Application Integration! http://www.novera.com
> fund Lugnet(tm): http://www.ebates.com/ ref: lar, 1/2 $$ to lugnet.
>
> NOTE: Soon to be lpieniazek@tsisoft.com :-)
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Message has 1 Reply:
 | | Re: why eBay proxy bidding is broken
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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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Message is in Reply To:
| | why eBay proxy bidding is broken
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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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