On Sun, 27 Apr 2003, steve wrote:
> Since the other bidders have no practical way to
> counter bid those bids entered during the last 5
> seconds, ebay's auction model can accurately be called
> a "sealed bid" auction format, with the highest bidder
> paying the second highest bid. If you change ebay's
You apparently haven't heard of the sniping services out there that can
put in a bid reliably in the last 3-4 seconds.
Though eBay's auction mechanism may end up being utilized in such a way
that renders it similar to a sealed-bid auction, in some cases, it is not
truly a sealed-bid auction.
--
Sellam Ismail Vintage Computer Festival
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Received on Sun Apr 27 2003 - 22:15:01 BST