Subject:
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Re: which threads, ethics (was: Re: Mini Auction - 6273 - Rock Island Refuge)
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Newsgroups:
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lugnet.off-topic.debate
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Date:
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Sat, 6 Mar 1999 22:28:41 GMT
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Viewed:
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1098 times
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-----Original Message-----
From: Larry Pieniazek <lar@voyager.net>
Newsgroups: lugnet.off-topic.debate
Date: 05 March 1999 23:07
Subject: Re: which threads, ethics (was: Re: Mini Auction - 6273 - Rock
Island Refuge)
> This is a specious argument as this is a real, actually used, and
> extremely valid auction format. I've done it myself as a buyer. Just as
> a seller's auction is good for scarce things, a buyer's auction is good
> for plentiful things.
I take your point that "reverse" auctions are an established and sensible
trading technique, I doubt anyone would take exception there. The point I
was trying to make was that a standard auction if "parasited" (forgive the
terminology) could then *turn into* a reverse auction and for that matter
turn the other way again.
If standard auctions were restricted (by ruling or agreed etiquette) to a
single seller, then the problem could not arise. This is what I'm hoping
will evolve from discussions. Conversely, in the case of a reverse
auction - let's take Todd's orange buckets as an example:
Todd is close to reaching the lowest likely seller price when I "parasite"
him and post on "his" thread that I will buy the buckets at a higher price.
The reverse auction is hijacked, it turns into a standard auction with Todd
and I bidding against each other with the likely exclusion of all but one of
the sellers. It is also feasible that the sellers would try to outbid each
other for the attention of the two (or who knows even more) buyers. End
result - chaos!
> It is extremely valuable and useful. As you might recall, Todd ran one
> of these for orange buckets. He wanted to buy some. At the time they
> were plentiful. His sellers bid against each other for the lowest price
> including shipping to Todd. When it seemed sellers would go no lower (or
> when he hit a fixed end time, I forget which, but you can go dig it out
> of market.auction yourself) the auction was over and Todd purchased a
> bunch of buckets.
>
> Now, he later sold those buckets back to us at a pretty healthy mark-up.
> Good for him.
>
> Please stop railing against the market, if you would.
Clearly, you took the opposite meaning to that which my post was intended to
convey. I trust that the illustration above clarifies.
Cheers
[SteveScott]
> --
> Larry Pieniazek http://my.voyager.net/lar
> Stop the FDIC from spying on us! Go to
> http://www.defendyourprivacy.com and sign the petition.
> For me: No voyager e-mail please. All snail-mail to Ada, please.
> - Posting Binaries to RTL causes flamage... Don't do it, please.
> - Stick to the facts when posting about others, please.
> - This is a family newsgroup, thanks.
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