16 May
2005
16 May
'05
11:57 a.m.
From: "Stan Barr" <stanb at dial.pipex.com>
"vrs" said:
> Items I still need, I will usually bid once early in the auction (in
case
> anyone wants to honor my "dibs"), then
enter a snipe for the actual
amount I
> am willing to pay. (Others seem to be using the
same system.)
...
So the auction becomes, in effect, a sealed bid
tender.
(I've bought things from the government that way.)
Very similar, except that I will generally end up paying a bid increment
over the second highest bid, which is likely to be less than the full amount
that I bid.
Vince