New ebay policy

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.

Reply to
John Poulos
Loading thread data ...

I can't say as I'm nuts about that, as a buyer...

nate

Reply to
Nate Nagel

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

Reply to
Lee Aanderud

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 #78
Reply to
Rich

They 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:

Reply to
John Poulos

MotorsForum website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.