On Wed, 20 Dec 2000, Shawn T. Rutledge wrote:
> On Wed, Dec 20, 2000 at 05:39:36PM -0800, Sellam Ismail wrote:
> > The method I used, and that I want eBay to implement (but I know they
> > never will) is to extend the auction deadline as each new bid comes in
> > within X minutes of the deadline. This is fair and avoids the inflated
> > prices that eBay promotes. But of course, eBay WANTS inflated prices.
>
> Hmmm, from my observations when OnSale does this, the prices get more
> inflated if the auction is extended. People don't know when to quit.
Stupid people who don't know the real worth of something (as far as being
able to get it much cheaper somewhere else or who bid above retail for
instance) don't know when to quit. It's called being an educated buyer as
opposed to an ignorant one, and regardless of whether it leads to inflated
prices because of idiots, it is still a fair process.
I've seen people at live auctions bid on cars for far more than even their
Blue Book value. But at least you still had a fair opportunity to bid
against this person until their stupidity proportionally outweighed your
wallet.
Sellam Ismail Vintage Computer Festival
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Received on Wed Dec 20 2000 - 20:22:18 GMT