24 Apr
2003
24 Apr
'03
3:45 a.m.
On Thursday, April 24, 2003, Innfogra(a)aol.com wrote:
Actually, as a seller, I think the eBay process sucks.
It is the second
best bidder that really sets the price. The advantage really is to the
bidder.
I feel that the advantage quite frequently tilts to the seller. When two or
more bidders are competing in the final moments of an auction, they get
caught in the excitement of battle, and those psychological forces induce
them to place bids higher then they would have normally placed. I have
experienced it both as a seller and as a bidder.
Another very successful Internet auction run by LabX
is a much preferred
model for me. It is where the sale is extended by a minute or two when
each bid comes in at the end of the auction. WWW.labx.com
My favorite idea is simply to have sealed bids. That is, you don't know the
high bid until the auction closes. Doing it that way prevents last-minute
psychology from causing bad decisions.
--
Jeffrey Sharp