Just noticed ebay is experimenting with a new bidding policy. Before if you bid say 10K on a auction starting at $100, the bid would only advance one increment to $150. Now it will advance to 70% or so of your proxy as long as it's below the reserve, or 7K.
New ebay policy
Oct 31, 2007
4 Replies
I can't say as I'm nuts about that, as a buyer...
nate
So it's less of an auction now and more of a point of sale. I see this as something that could backfire... instead of buying something for $3000 or $4000 deal through increments, you're now committed to spending at least 70% of your bid and not so good of a deal. I'm sure sellers will love it, buyers will hate it.
Lee
Once bitten by this new rule, wouldn't Buyer's resolve to bid only in increments - or even purchase one of those Snipe software packages. It makes the whole "auction" concept feel tainted. If Ebay futzes with their formula, it will give others a chance to take market share. I know as a Buyer, I feel betrayed by this action.
Rich
Richard Morris Renton, WA
1964 Avanti R-1 #5367 1990 Avanti 4-door #78They are only trying it on a few auctions as a test, not a firm change yet. A few years back, your full proxy was bid if it was under the reserve.It makes the auctions move up faster.
Rich wrote:
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