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 01:48:51 GMT
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Viewed:
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192 times
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In lugnet.market.theory, Richard Franks writes:
> In lugnet.market.theory, Derick Bulkley writes:
> > Be warned: serious ranting below.
>
> 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
This gets up my nose too. (1)
I tend to think a bit less of the seller after they do that(2). There is an
instance of that going on right now, although I shall omit most of the
details... someone offered some things, not thinking they were worth much. I
responded with a quite reasonable buy out, or so I thought, only to hear back
that the seller had decided to run an auction because they were surprised at
the response.
If you're not sure what something is worth, start it off at 1 cent plus
shipping. Or start it off at the least you'll take. But I tend to feel that if
you say "first offer gets it" you ought to stick to that. I never do that, I
always let the market allocate it fairly, but if you choose to do that, stick
to it.
Now, back to the topic at hand, I responded to Derick rather quickly, so let me
expand my remarks.
Todd is wrong. A single bid sealed auction is an auction. It may be a
degenerate case of an auction and it may not have the back and forth
characteristics that an open multiround auction, or even an anonymous bid
multiround auction does, but it's still an auction.
Todd is also right. These auctions, and auctions they are, are different enough
and noninvasive enough that for pragmatic reasons, even though they ARE
auctions, there's not a lot of harm in allowing them in b.s.t.
Todd is also in charge. Whatever he says goes. We can complain, lobby for
change, but it's lobbying on HIS nickel, if we don't like it, we can take our
custom elsewhere.
Summing up (and Todd won't admit this (3), but hey, I never make misteaks, so
this IS the correct answer, I have spoken) They ARE auctions, there IS logic
behind allowing them in b.s.t and even if there wasn't, he already decided, and
that settles it, unless he changes his mind.
QED
1 - My phrase of the week.
2 - and remember, I can do that. I get to pick my friends. My enemies pick
themselves, though.
3 - the part about him being wrong about anything... He's almost as stubborn as
I am. (4)
4 - well, I'm not stubborn, because that's a flaw and I don't have any. I'm
just persistent.
++Lar
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Message has 2 Replies:
 | | Re: When is "Not an Auction" really an auction?
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| (...) Just curious, how do people feel about "I'm thinking of selling XYZ. If I get a huge response, I will auction it, otherwise I will come back with a price, and sell to the first offer"? How do you conduct trades? Do you trade for the "best (...) (25 years ago, 2-Dec-99, to lugnet.market.theory)
| | | Re: When is "Not an Auction" really an auction?
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| (...) I always admit I'm wrong once I've been shown it conclusively. In this case, I agree with the whole of your post above (some snipped). But disagree about being wrong about the essence of a "sealed bid auction" and what it really is or is not. (...) (25 years ago, 3-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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| (...) 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)
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