[Boatanchors] auction time linked to what timing source?

[J. Forster]

Wrong. Consider the following example:

=====

Bidder Number    Bid Seen     Max Bid   Current High Bidder

1                $10            $201          1
2                $11             $11          1
2                $20             $20          1
2                $50             $50          1
2               $100            $100          1
2               $125            $125          1
2               $200            $200          1

Auction Ends. Bidder 1 wins at $201

=====

In this case, the Newbie (Bidder 2) has cost Bidder 1 $190 dollars. Had
Bidder 1 simply sniped it, he could have bought the item for $11.

Great if you are the seller, stinks if you are the successful bidder.

-John

==============


> I've only seen this mentioned in one of the many posts on this subject
> but your bid is not absolute, it only matters if someone comes close or
> above your bid.
>
> If you decide the absolute maximum you're willing to pay and enter it it
> doesn't matter whether you are "sniped" or not.  It doesn't matter
> whether you enter your bid seconds, minutes, hours or days ahead.  You
> will only lose if someone wants it more than you do.  It doesn't matter
> whether this process takes place over a period of seconds or painfully
> over a period of days.
>
> Are you willing to pay more just because you know what my bid is?  I'm
> not.
>
> Harry, KT4AE
> Maryville, Tennessee
>
>
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