Auction: Hawkins Enchinata colony (must pickup in Surrey or Rosedale on the 19th)

Myka · #1 01-09-2016, 12:40 PM

Quote:

Originally Posted by albert_dao

I can't, however, by process of elimination, it would seem that xx:59 would qualify as a bid made under xx:00 with the the bids being noted sequentially as posted. Not trying to be cheeky here.

It doesn't really matter because we've chosen to run the auctions in the "last man standing" fashion.

Do you dislike this rule? If so, what do you dislike and is that from a buyer or seller perspective?

albert_dao · #2 01-09-2016, 07:09 PM

Quote:

Originally Posted by Myka

It doesn't really matter because we've chosen to run the auctions in the "last man standing" fashion.

Do you dislike this rule? If so, what do you dislike and is that from a buyer or seller perspective?

I don't follow? What do you mean "last man standing"? How does that clarify the timestamp?

Myka · #3 01-09-2016, 09:16 PM

Quote:

Originally Posted by albert_dao

I don't follow? What do you mean "last man standing"? How does that clarify the timestamp?

We don't care about the time stamp because of guideline #6:

6) When two members make an identical "winning" bid on the same minute, the auction will remain open for these two bidders only for a bidding war - until a winning bid is achieved. At this time, if a bidder fails to post a bid increase within 24 hours, that bidder is considered resigned from the auction.

albert_dao · #4 01-09-2016, 09:29 PM

I don't have any constructive insight for you on this other than "why?"

Myka · #5 01-09-2016, 09:43 PM

Quote:

Originally Posted by albert_dao

I don't have any constructive insight for you on this other than "why?"

Why not?

This isn't a new idea - we stole it from another site. It works quite well. Although I think we could trim the "24 hours" down to "15 minutes" and achieve the same thing.

Myka · #6 01-09-2016, 09:50 PM

The "last man standing" more closely simulates a real auction. An item could have no bids for the entire life of the auction, then 2 (or 100) people bid in the last minute, and one guy gets the item for the opening bid. "Last man standing" gives both these people (or all 100) a chance to up the bid and actually continue it on like an auction should run - to the highest bidder. I think we did consider leaving the entire auction open for anyone to bid if there are two identical bids in the last minute, which I'm game for too. With that ruling, the auction remains open for all bidders until there isn't a bid within "X" amount of time. That's probably as close to a real auction as you can get.

Ryanerickson · #7 01-09-2016, 09:58 PM

I think there should be a option to chose the ending . If we went by these rules for this sale in particular it would have screwed up the sale as it had to
Be picked up the next night Before it would have ended. And yes 24 hours is too long if this is the way it will be kept.