Subject:
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Re: 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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Thu, 2 Dec 1999 00:19:03 GMT
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Viewed:
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357 times
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In lugnet.market.theory, Todd Lehman writes:
> In lugnet.market.theory, James Brown writes:
> > [...]
> > As an aside, I agree with Larry and Derrick. SRSB auctions are not
> > something I think belongs in BST.
> > In my brain, the fact that you don't know who your bidding against or how
> > much they bid makes it no less an auction. OTOH, my brain has been wrong
> > before.
>
> When you see an OBO in the newspaper and you call someone up and make an
> offer, you don't know who you're competing against either. OBO's are "sealed
> bid auctions" too. They're the same thing.
>
> But they're actually not auctions in spirit.
If you insist. :)
But to me, an auction is anything where the final price is determined by 1
seller and multiple (potential) buyers. So, yes, OBO's and SB auctions are
the same thing. Auctions. <grin, duck>
The difference to me is as much one of attitude as of definitions. An auction
is won by whoever is willing to pay the most, a sale is 'won' by whoever gets
it first. (yes, I know I'm generalizing)
However, the actual volume of psuedo-auctions in BST is pretty minimal, so we
are quibbling over nits, mostly.
James
http://www.shades-of-night.com/lego/
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Message has 1 Reply:
 | | Re: When is "Not an Auction" really an auction?
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| (...) So ticket scalping in the back parket lot is an auction? Selling a 20-gallon aquarium at a garage sale is an auction? An stock market IPO is an auction? Those are all things where the final price is determined by 1 seller and multiple (...) (25 years ago, 2-Dec-99, to lugnet.market.theory)
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Message is in Reply To:
| | Re: When is "Not an Auction" really an auction?
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| (...) When you see an OBO in the newspaper and you call someone up and make an offer, you don't know who you're competing against either. OBO's are "sealed bid auctions" too. They're the same thing. But they're actually not auctions in spirit. (...) (25 years ago, 2-Dec-99, to lugnet.market.theory)
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