[LargeFormat] RE: [Large Format] EBay

[Stan McQueen]

Well, no, because the proxy bidding process doesn't disclose what your 
maximum is. An opponent can figure it out, but only by repetitively bidding 
higher and higher bids. eBay auctions are not like "normal" auctions. In a 
normal auction, you pay what you bid if you win. In an eBay auction, you 
pay what the second-highest bidder bid, plus one increment. The amount 
you're willing to pay isn't disclosed unless someone outbids you. And you 
don't have to be present at the end of the auction to win, because your bid 
will automatically be increased as you're outbid up to the (hidden) maximum 
you have specified.

The proxy bidding process is apparently not well understood by many people. 
It is not an optional process; it is in effect in every bid placed on 
ordinary auctions; it is not affected by the time remaining in an auction.

Snipe bidding can work very well against interactive bidders, and I'm sure 
that many have used it to wonderful effect. I'm only saying that it doesn't 
work against me or other bidders who bid like I do. If you win an auction 
against me, it is for only one reason--you are willing to pay more than I 
am. It doesn't matter how much time remains when you indicate your 
willingness to pay more. (That's not entirely true, because I have, on rare 
occasion, revised my bid upward after further evaluation. But it's mostly 
true (or "mostly harmless", or "mostly dead")).

Stan

At 09:56 AM 2/8/2003, tim wrote:
>And of course, if you place your maximum bid early, someone could just trump
>you by $1.50 over that. You lose and yet would probably have been willing to
>pay the extra 1.50 for what you wanted.
>
>Bidnapper works well I think it's $15.00 for three months or so much per
>bid.
>
>I've already won too many auctions with it...
>
>tim
>
>
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