27 Apr
2003
27 Apr
'03
3:15 p.m.
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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