27 Apr
2003
27 Apr
'03
5:32 p.m.
--- Brian Chase <vaxzilla(a)jarai.org> wrote:
Sealed bid auctions don't result in bidding
frenzies.
They certainly do, put 10 similar valuable items up
for auction in a traditional sealed bid auction, one
week apart, as each bidder loses each week, his/her
sealed bid will increase each week so by the 6 or 7
auction a frenzie will occur, everyone fearing that
he/she will never be the winning bidder . Exactly like
you see in ebay.
I don't think
your comparison of sealed bid to eBay auctions holds
at all.
Ebay always hides the the current highest bid, the
auction ends at a fixed time, on many auction many
bids are placed within 5 seconds of the end of auction
basically removing any opportunity for the previous
bidders to place a counter bid, sounds like a sealed
bid auction to me....
-brian.
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