Barry Schultz wrote:
>
> >Therefore, Mr. Big Pockets is better off to wait until just before the
> auction ends before he puts in his take-on-all-comers bid.
Barry, Theo,
Unfortunately this is not really a valid method, as there is more than
one clock running down until the "end-of-auction". Two things defeat
this method.
Firstly, if bidding is ongoing at the auction close time, then the close
time is automatically extended as the bidding is still going on. Similar
to the warning at a REAL auction "Going to the bidder for 1000 Lb, Going
Twice, are there no more bids?, "Gone", Sold to the highest bidder at
1000 lb Sterling."
This final hammer blow is the real end of auction, when there really
aren't any more bids, not the artificial "time". And there are THREE of
them. This is true of real auctions and web auctions.
The seller agrees to these conditions when he places the article up for sale.
Next, there is no real way to time your bid, as transmission times vary,
and it is the receipt of the bid, not the sending, that is counted.
BTDT
Steve
--
Steve Laifman < Find out what is most >
B9472289 < important in your life >
< and don't let it get away!>
<SLaifman@SoCal.RR.com>
<http://www.TigersUnited.com/gallery/SteveLaifman.asp>
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