Subject:
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When is "Not an Auction" really an auction?
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Newsgroups:
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lugnet.market.theory
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Date:
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Wed, 1 Dec 1999 23:13:15 GMT
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Viewed:
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297 times
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Be warned: serious ranting below.
I'm awfully tired of notices posted to marketplace.buy-sell-trade, stating
something like:
"big Lego for sale.. ...this is NOT an auction... ...highest offer received
after..." etc.
This isn't an auction? It sure is the heck isn't a sale for pete's sake!
In fact, the American Heritage Dictionary defines an auction as follows:
auc·tion (ôkshn) n.
A public sale in which property or items of merchandise are sold to the
highest bidder.
and that is exactly what these so-called "highest offer" sales are. In fact,
it's the worst kind of auction - sealed bid. This kind of sale heavily favors
the seller by depriving bidders of virtually any information (except "you win"
or "you lose") and the potential for abuse is enormous.
So, in conclusion, I demand that the powers that be either:
1) steer these "highest offer" sales to marketplace.auction, or
2) Create a new group under marketplace titled marketplace.sealed-bid,
marketplace.best-offer, or something like that.
And just to let you know that I'm really, really Serious, I'm going on a Lego
strike - I will not buy more Lego until my demands are met!
hmmmm. Er, maybe I'll just hold my breath, instead. Yeah, that's it. I'll
hold my breath until at least one of my demands are met...
or how about if I just demand a shrubbery?
-Derick
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Message has 7 Replies:
 | | Re: When is "Not an Auction" really an auction?
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| (...) Are they notifying potential buyers of current offers and using the current offers to solicit progressively higher bids? If so, then it's an auction in spirit. (...) I think the key word there is "bidder," which, in the context of an actual (...) (25 years ago, 1-Dec-99, to lugnet.market.theory)
| | | Re: When is "Not an Auction" really an auction?
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| (...) Does the AHD have a separate entry for "sealed-bid auction"? What does it say for "animal"? Is a "stuffed animal" (as in teddy-bear, not taxidermy :) an animal any more or less than a "sealed-bid auction" is an auction? stuffed animal eye (...) (25 years ago, 2-Dec-99, to lugnet.market.theory)
| | | Re: When is "Not an Auction" really an auction?
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| (...) Potentially more annoying are sales that when you enquire about the item you get the reply, "You were the first to ask about this item so it should be yours, but someone else asked about it too so I'm going to auction it off instead." Richard (25 years ago, 2-Dec-99, to lugnet.market.theory)
| | | Re: When is "Not an Auction" really an auction?
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| (...) Actually, I just had a even screwier variation on this. I had an email solicitation that follows (minus identifying details): My name is Chris. I have set 4555 Frieght Loading Station and 4537 Twin Tank Transporter, due to finances I have to (...) (25 years ago, 2-Dec-99, to lugnet.market.theory)
| | | Re: When is "Not an Auction" really an auction?
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| (...) My personal opinion is that it's not an auction, for the following reasons: 1) You have "1 seller and multiple (potential) buyers". But, hey, this is a generical market law, almost everything someone decides to sell is available to buy for (...) (25 years ago, 2-Dec-99, to lugnet.market.theory)
| | | Re: When is "Not an Auction" really an auction?
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| (...) I'm not sure that it always favors the seller. I think it depends on the item and the seller. The state of North Carolina runs a weekly sealed bid auction for surplus property (actually they include some jobs also, they occaisionally "sell" (...) (25 years ago, 2-Dec-99, to lugnet.market.theory)
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