Sol Computer (Auctionweb Grumblings)

From: Greg Mast <gmast_at_polymail.cpunix.calpoly.edu>
Date: Sat Sep 20 12:59:03 1997

On Fri, 19 Sep 1997, Sam Ismail wrote:

> AuctionWeb is ridiculous. While there are some great finds there, I've
> realized that whatever I bid on I will end up finding a week or two later
> locally for a tenth or less of what I bid. The prices for stuff on there
> are horribly inflated.

That's jus like all auctions. People get caught up in the bidding and forget
what things are really worth. I see prices both ways. I've sold things there for
way less than their value also. They always sell for less than the average
asking price on usenet. Recently, bidding is way down. Either due to the good
weather or the influx of other on-line auction companies. Apple IIc-$15, Mac 512
complete-$24.

> Don't bid on the item. That is, not until the last 5-10 minutes of the
> auction. This serves two purposes that ultimately benefit you. 1) If you
> bid early, it gives someone a chance to come in and outbid you early, then
> you will counter-bid, then he will, then you will, etc. You get into a
> bidding war. 2) If you bid just before the auction is over, you avoid 1).
> You'll get in with a low-ball bid and hopefully nobody else will get a
> chance to outbid you in the last remaining minutes, although I've had some
> close calls. I once bid on an item (forgot what) at the last minute and
> some character tried to do the same but his bid was late. In the same
> token, I've had that happen to me where I was just too late. The problem
> is, if you try to bid just before the auction ends (like within 1-2
> minutes of closing) there are about 14 other dweebs like you trying to put
> in last minute bids. The record in the database for that item becomes so
> locked up that nobody can make a bid, and your effort is futile.

That's how the experts do it. I've seen auctions where after the ending time of
the auction, the bidding can continue for 5 minutes (Onsale?). This means
whenever a bid is entered, there's 5 minutes added to the clock. That would
eliminate that scenario. I've had lots of people email me with higher offers
because they didn't get in quick enough. I've missed items because my connection
is slow.

> The seller usually comes out on the short end of the stick.
> Bidders wait until the last possible second and put in a bid that's not
> necessarily fair market value.

You can always put in a reserve price. You are also allowed to bid on your own
item once during the auction. This rule is a little strange but I assume they
allow it because bidding might be way below what they want to sell the item for.
Doesn't make buyers happy though. I've only used it a couple times when someone
locally made a legitimate offer for an item, never to boost the bid.

> In real life, the bidding keeps going until one person concedes or passes
> out. These onlines auctions need to instate some similar format.

The system used by Onsale (I think) eliminates this.

> I just realized this message is horribly off-topic but I just had to
> complain about something today.

My reply is off-topic too, oh well. Since many people here use AuctionWeb it's
not that far off. I like using it because I usually don't have a clue what this
stuff is worth. It's worth what people will pay.
Received on Sat Sep 20 1997 - 12:59:03 BST