Subject:
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Re: Proxy ratcheting: How do auction systems work?
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Newsgroups:
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lugnet.off-topic.pun
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Date:
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Wed, 5 May 1999 00:27:06 GMT
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Viewed:
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667 times
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In lugnet.market.auction, lehman@javanet.com (Todd Lehman) writes:
> In lugnet.market.auction, jdiri14897@email.msn.com (John DiRienzo) writes:
> > > Steve Bliss writes:
> > > > About the issue of whether new bids have to beat the proxy by the
> > > > increment amount, I say this: as long as I can't be sniped at the
> > > > last minute, I don't care. If someone beats me by a small amount
> > > > or a large amount, if I'm still willing to bid higher, I will.
> > > > But if I don't have time to make another bid, I (and the seller)
> > > > are effectively screwed.
> >
> > Now wait, screwed by who?
>
> Apparently screwed by the other bidder, but actually screwed by the broken
> auction system.
But I'm not bidder.
--Todd
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