Internet Auctions

[Harvey A. Kader]

> Bill Coleman wrote:
>
> > On 1/19/01 22:12, Wayne Sushak at stanway at DBLHELIX.COM wrote:
> >
> > >Please forgive the use of the bandwidth....this is not Heath (sigh), and it
> > >is at the other place....but it is a kit (dual channel no less) !  If this
> > >isn't the perfect start for a young and future "rosin sniffer", I don't
> > >know what is.....
> > >
> > >Item #1207330351
> >
> > There's something I don't understand here. If you look at the bid
> > history, you'll find one bidder upped his own bid on 3 occassions.
> >
> > What's the sense in that? Why up your own bid?
> >
> > (PS he didn't even win the auction...)
> >
> > Bill Coleman, AA4LR, PP-ASEL        Mail: aa4lr at arrl.net
> > Quote: "Not within a thousand years will man ever fly!"
> >             -- Wilbur Wright, 1901
> >
> >
>
> The purpose of changing one's bid in an internet auction is to decrease the possibility
> of being outbid by someone else. For example, if the bidder feels that his initial bid os
> too low, he may go back and increase the bid to offset the possibility of someone else
> outbidding him later on. Or, after his initial bid, someone else may later on outbid him,
> so he will go back and increase his bid to outbid the second bidder.
>
> The internet auction is designed so that changing your initial bid before anyone else
> outbids you, will not increase the minimum bid amount by the bid increment allowed by
> that auction.
>
> I hope this clarifies how internet auctions work.

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