[Coladam] eBay is a cheat
oltmansg at bellsouth.net
Mon Jun 15 16:12:54 CEST 2009
Rich: see my previous email to the list about how bidding works on eBay. In essence, eBay does proxy bidding. You set the max bid you're willing to set, and then eBay applies the bids based on those. So, if the original bidder bids $100, and there are only bids up to $50, his max bid is automatically set to $51. If a second bidder bids say $75, then the original bidder still has the high bid at $76 (or whatever the minimum bid increment is).
This was sold as a feature for convenience (and originally it was when eBay first started), however I think the best strategy is to wait til the last possible seconds in the auction to bid on something you want. The reasons are two-fold: this gives less opportunity for a rival bidder to bid on something you want (or a shill bidder), and secondly it keeps the bots away (and there are bots. They usually monitor in the last minute or so).
I would think that what eBay should do now is how they handle some real in-person auctions. If you haven't bid early, you are excluded from later bidding. It wouldn't eliminate the problem, but it would reduce it IMO.
From: Rich Drushel <drushel at apk.net>
To: coladam at adamcon.org
Sent: Monday, June 15, 2009 8:53:58 AM
Subject: Re: [Coladam] eBay is a cheat
On Mon, June 15, 2009 9:48 am, Rich Drushel wrote:
> Someone explain to me how this works, because it does not seem fair.
My hypothesis about the seller, or a poxy therefor, lurking on
this list, after my reply to Richard, remains. I am not going to bid
$101 just to find out if the bot reset its limit.
Richard F. Drushel, Ph.D. | "They fell: for Heaven to them no hope
Department of Biology | imparts / Who hear not for the beating
Case Western Reserve University | of their hearts."
Cleveland, Ohio 44106-7080 U.S.A. | -- Edgar Allan Poe, "Al-Aaraaf"
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