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Thread ID: 51613	2004-11-25 09:37:00	Loshings - Auto bid complaint	drb1 (4492)	PC World Chat

Post ID	Timestamp	Content	User
296319	2004-11-26 01:54:00	I certainly did. Used Trademe's forums under "Discuss New Features" ... I was subsequently sent a threatening email saying I could be banned for abusing Trademe, etc. Incidentally, the thread was deleted. Lo.	Lohsing (219)
296320	2004-11-26 01:55:00	> Of course when you are NZ's No 1 place to buy and > sell online, you can change things and not advise > anyone. Of course you can take your business > elsewhere. Unfortunately, there isn't a viable alternative at this stage. It's like trying to find a decent alternative to Jetstream with Xtra. Lo.	Lohsing (219)
296321	2004-11-26 02:08:00	>> I was subsequently sent a threatening email saying I could be banned for abusing Trademe, etc. As long as you didn't become abusive, how can they not accept that they don't run a perfect ship. But again when you are one of NZ's fastest growing companies, its all good.	Dolby Digital (160)
296322	2004-11-26 02:10:00	> > > I was subsequently sent a threatening email saying > I could be banned for abusing Trademe, etc. > As long as you didn't become abusive, how can they > not accept that they don't run a perfect ship. But > again when you are one of NZ's fastest growing > companies, its all good. I know... I wasn't abusive at all... I just pointed out this change. Perhaps other ppl figured it out and became abusive? Lo.	Lohsing (219)
296323	2004-11-26 02:15:00	What is it with you people? A bid below the reserve is meaningless . The lot will not be sold if the bidding does not reach the reserve . Can you not understand this? The object is to sell the goods . A series of "bids" starting at $1 and increasing by $1 for something when the reserve is $100 is just a waste of time . If someone puts in an autobid with a limit of $50 that will be entered at the limit because it is still under the reserve . That will reduce the number of bids needed to reach the reserve, when the bids become meaningful . Even if it's the only bid, it shows that someone was prepared to pay that much . If the reserve is still greater, the lot won't be sold . This is how auctions work . If you put in a limit of $100, and the reserve is $50, your bid will be entered at the reserve level . If it's the only bid, you will get the lot . This is how auctions work . If others bid, you'll get it if others drop out before your limit . This is how auctions work . Do you want to "win" the bidding, but not buy the lot? I'm not surprised that Trademe don't like this sort of childish abuse .	Graham L (2)
296324	2004-11-26 02:25:00	>The lot will not be sold if the bidding does not reach the reserve. Have you never used trademe? Anyhow,a bid below reseve is an offer to purchase,the same as a bid above reserve,and if the reserve isn't met then the seller can offer it at a fixed price to those who bid on the item.	metla (154)
296325	2004-11-26 02:27:00	Oh,and a differing view doesn't make something childish,although scorning people as childish for holding a different view is childish. Lmao. Just messin.	metla (154)
296326	2004-11-26 02:30:00	> What is it with you people? "You" people? No need to take the high ground here . > A bid below the reserve is meaningless . The > lot will not be sold if the bidding does not reach > the reserve . Can you not understand this? The object > is to sell the goods . For goodness sake . If I were buying a house, and I indicated I could spend up to X hundred's of thousands of dollars, it doesn't mean that I necessarily want to spend up to that amount . If I can secure a better deal for myself, why should I go up to my final amount without knowing what the reserve is? > A series of "bids" starting at $1 and increasing by > $1 for something when the reserve is $100 is just a > waste of time . Obviously you don't use Trademe much? Typically the minimum in that scenario would be $5 increments or $10 . Otherwise you'd have ridiculous $0 . 05 increases . > If someone puts in an autobid with a limit of $50 > that will be entered at the limit because it > is still under the reserve . That will reduce the > number of bids needed to reach the reserve, when > the bids become meaningful . Even if it's the only > bid, it shows that someone was prepared to pay > that much . If the reserve is still greater, > the lot won't be sold . This is how auctions work . You're forgetting the point . If my autobid exceeds reserve, then it automatically increases to that amount, not the reserve . > If you put in a limit of $100, and the reserve is > $50, your bid will be entered at the reserve level . > If it's the only bid, you will get the lot . This is > how auctions work . If others bid, you'll get it if > others drop out before your limit . This is how > auctions work . No it doesn't . If my limit is $100, and reserve is $50, the autobid will mean auction finishes on $100 and not at $50 . Likewise, if I want to "secure" the win on the auction and include an autobid after the reserve is met, then I end up paying the top rate regardless of whether someone bid on the auction or not . > Do you want to "win" the bidding, but not buy the > lot? > > I'm not surprised that Trademe don't like this sort > of childish abuse . Have I ever called Trademe, Scanme or Tardme? Nope . Don't ever generalise me as being abusive to Trademe . Lo .	Lohsing (219)
296327	2004-11-26 02:52:00	If all bids stay under the reserve then it is an indication to the seller that the market does not rate their price for the goods . Reserves aren't necessarily a meaningful indication of value . Remember, a bidder does not know the reserve before the auction starts . To find an auto bid that automatically goes to a bidders limit is a bit disconcerting and would never happen in a real live auction where the bidders are given the opportunity to compete below the reserve to whatever value the bidder's deem appropriate, not the auctioneer's or vendor's idea of appropriate value . The bidders will often feel the auction out, get an idea of the oppositions nerve, etc . That's what an auction is, people competing at a given time to purchase something . The idea behind this is to find the market value at the time, if this is below reserve, then post auction negotiations are often held, as happens at Trademe . Whacking an auto bid straight to it's limit reveals your upper limit immediately rather than the highest bid in a competitive situation thus revealing your hand to rival bidders and also negating a good deal of any negotiation you may wish to partake in after the close . Previously an auto bid was only triggered by a rival bid, much like having an agent in the auction house representing you to bid on a sale to a defined limit . You would be very cross with an agent who put your opening bid in up to you defined limit whether above or below the reserve . The set up now is not typical of an auction, nor is it entirely fair to bidders .	Murray P (44)
296328	2004-11-26 02:57:00	Oh dear . Lohsing, I carefully didn't pick out anyone in particular for the "childish" remark . I don't use trademe much so I used arbitrary amounts as an example . The amounts are irrelevant . I spent three hours today at a real auction . I know how auctions work . Trademe works like a real auction . Have any of you actually read trademe's written statement of how the Autobid works? There's quite a clear description of how it works . "If your auto bid is greater than the reserve then a bid is placed for you that is equal to the reserve" . There are explanations of why your autobid might appear to "bid against itself" . In the general rules: "If the reserve price is not met . . . the item will not be sold . Neither the bidder nor the seller will be under obligation to complete the sale if the reserve is not met . "	Graham L (2)
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