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Claude,
Um... yeah... you've analyzed the effect of extended end times
exactly.
I take it your complaint about this approach is
essentially that you would no longer be guaranteed to win the item by
virtue of the fact that you can afford to put whatever amount you want in as
your sniper bid? That you would actually have to bid competitively in real-time
with others who also wanted the poster and win it the old-fashioned way, by
keeping on with the bidding until you are truly the last bidder
standing?
Bear in mind that we will be coupling this with our own,
built-in "sniper" program at MPB. So, you can still enter a high sniper bid and
the system will keep playing it for you -- even as the end time is extended. So,
you can still win the poster and not be there personally to place the last bids.
But, you might end up paying more as someone who was watching at the end
might place bids against your sniper bid (because that person also wanted the
poster). This is only fair, yes?
-- JR
----- Original Message -----
Sent: Tuesday, June 14, 2005 14:31
Subject: Re: [MOPO] How to Beat The
Clock
JR
I totally disagree on every count with what you have stated.
You are not giving reason to a person like myself who is a far more desireable
bidder for sellers than most people because (and I am making a statement for a
worthwhile purpose and not bragging) I can buy any poster I want.
When I want a poster I will place a high snipe bid and it is usually far
more than the poster would ever sell far. I do this with confidence that
I will get it at a price in the range of what I expected but at the same time
am willing to risk paying a lot because someone else may do the same
thing. I recently put in a bid of $2500 for an item I thought would go
for $750 and everyone was below $750 except one person who bid $2100. He
obviously thought like I did. Therefore I ended up getting the item at 3
times the normal price range and the seller got far more than he ever
expected. I would never do this with a snipe bid and go to bed knowing
that people can keep pecking away at me all night.
Under your system I would never and I mean never place a bid that high
because every 60 seconds someone would be bidding up my snipe bid and
therefore be able to keep raising the minimum increment until he passed
me or bid me way up.
Therefore with this constraint in mind, people knowing they can keep the
auction alive for 60 seconds at a time will keep bidding the minimum and the
auctions will go on and on and on until only one person wins (which is always
the case). the whole process of sniping will end and only those who have
nothing to do will be at their computers. Most people who earn a big
living do not have the time to sit at their computers all night pecking away
in minimum increments.
The reason the great number of people want this is because they keep
losing on snipe bids and because they cannot afford to bid high. Your
sellers will not get more money because the increments will be small and the
big hitters will not take chances. Ebay was offered this and turned it
down because they realized that no matter what, the rules of an internet
auction are different. Also, the auctions go a full week unlike a live
auction where an item is up for grabs and the auction is over in 30 seconds
from start to finish per item. Please compare apples with apples and not
try to make apples taste like oranges.
Claude Litton
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