posted on April 8, 2004 03:04:57 PM new
Paid off very well in this case, but the debate about sniping will never end. Just can not see Ebay doing this anytime soon.
The future has taken root in the present.
posted on April 8, 2004 04:27:21 PM new
From the article:
Lynch said Bid4Assets auctions more closely resemble a live auction. "As in live auctions, until the auctioneer shouts out going once, going twice, going three times and slams down the gavel, all bids are fair game."
However, live auctions never end at 3 am on a weekday, as do many ebay auctions.
Sniping levels the playing field to those willing to bid their absolute maximum and walk away, without having to compete with those who can be at their computer at the end of the auction.
"The property would have gone for $590,000 if there was no overtime," Lynch said. Instead, the property sold for $705,000."
Really?? There’s no way to know from this article whether the high bidder would have been willing to snipe at $705,000. This is big money -- my guess is yes.
posted on April 8, 2004 09:04:02 PM new
I wonder where I heard this before?
Ok, enough gloating. I just remembered where I saw this type of auction style before. The old Alta Vista and Lycos auctions had an option a seller could check to extend auctions that received bids at the last second which would extend the auction another 5 minutes.
This would be a great idea for ebay and to put to rest the BS about snipers driving prices down.
posted on April 8, 2004 11:12:27 PM new
Liquidation has the same feature and doesn't Yahoo have that option or am I misinterpreting the "automatic extension" feature?
~~~ • ~~~ • ~~~ • ~~~ • ~~~
If it's really "common" sense, why do so few people actually have it?
posted on April 9, 2004 03:23:31 AM new
Most auction sites that offer Auto-extension also allow you to toggle it off.
You can also snipe these auctions and still win provided your bid was high enough.
The sites love them as they maximize the return to them and the seller (extracting every last cent from the buyer).
[ edited by agitprop on Apr 9, 2004 03:24 AM ]
posted on April 9, 2004 06:59:29 AM new
Hello All, Ebay is not a real auction. Real auctions never end until the bidding ends. I believe that Ebay and its sellers would make more money if they got smart and let the bidding set the price. We must all remember that Ebay has never sold anything but an idea. Ebay not being a real auction is one reason why I don't sell more and better items here.
posted on April 9, 2004 08:46:11 AM new
Now this is a feature I WOULD be willing to pay extra for. Often "would be bidders" have written saying they bid too late - do I have another??
