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[OM] Re: Now OT: sniping (was: Price of Zuiko 50 3.5 (macro))

Subject: [OM] Re: Now OT: sniping (was: Price of Zuiko 50 3.5 (macro))
From: "Andreas Pirner" <AndreasPirner@xxxxxx>
Date: Fri, 24 Sep 2004 13:07:47 +0200

Andrew Fildes wrote:
> And howya going to know when the last bid was or whether it was the 
> last bid or not. Or when to start the 5 minute countdown? Or...?  Tsk!

Is it that hard to understand? OK, I'll explain:

I placed an item for auction ending today at 12 noon.

Some bids may hace come in.

Variation a) Last bid came before 11:55 -- auction ends 
as planned at noon, last bidder wins.

Variation b) Another bid comes in at 11:58 -- that 
sets a new auction end to +5 minutes, that is 12:03.
When no other bid comes -- see (a), else: another 
5 minutes.

Pretty much like a real auction goes. Each new 
bid elongates the total bidding time. Easy to 
implement electronically.

If that gives as much thrill when bidding is 
another thing. Prices may get higher on really 
sought after items since there is enough time 
for all bidders to go to their individual limits 
(and beyond ;-). Sniping does not work as now 
anymore.

Sellers will be happier, hunters probably less.
 
Andreas

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