Subject:
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Re: CFD: e-bay (aka ranting and raving)
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Newsgroups:
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lugnet.off-topic.debate
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Date:
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Thu, 11 Feb 1999 18:43:30 GMT
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Viewed:
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458 times
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On Wed, 10 Feb 1999 04:15:06 GMT, Adam Yulish <bwappo@ee.net> wrote:
> Remember that in a proxy bidding system such as eBay, the highest bid
> is defined as "just a little more" than the second highest bid. All
> winning bids are like this, unless it's a dutch auction format. I just
> saw a rather humorous (in a sick way, I guess) example on R.T.L. where
> two eBay bidders just assumed that they were going to be the highest
> bidders no matter what, and they accidentaly pushed themselves to
> something like three times the value of what they wanted to buy.
> Remember also that (for eBay), if you look at the bidding list after an
> auction is complete, the highest bid is truncated to fit this "proxy"
> system. If all it took was $51 to win, and the highest bidder went $75,
> it will still show as $51.
Something to think about: even with proxy bidding, you will, over time,
get lower totals on winning-bids in eBay auctions if you do not bid
until the last second.
Why?
- Proxy bidding isn't perfect.
- Not everyone uses proxy bidding properly.
- No one will have a chance to counter your bid.
- Sometimes, people don't pay attention at the last moment, so you can
slip a bid in.
- If you put a very late bid in, no one will find out you've got the
high bid until the auction closes.
Steve
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Message has 1 Reply:
Message is in Reply To:
 | | Re: CFD: e-bay (aka ranting and raving)
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| <snip> (...) I'd say more than 2/3. Almost all of the auctions I've been in as a buyer and a seller follow this pattern. (...) Remember that in a proxy bidding system such as eBay, the highest bid is defined as "just a little more" than the second (...) (26 years ago, 10-Feb-99, to lugnet.off-topic.debate)
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