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But, Michael, if it closes at 10:11 p.m., does that mean that a bid with a time stamp of 10:11 p.m. is valid? If it does, then the auction really doesn't close at 10:11. It would be closing at 10:12. That's the point Matt -- correct me if I'm wrong, Matt -- and I are making.
A "five-minute" rule, while having some positive attributes, doesn't really address the original potential problem that was brought to light. Edited to add that it all goes back to Leon's suggestion that the seller merely needs to say what the latest time stamp on a bid is acceptable. Much simpler and it solves the problem that was raised. Last edited by Rob D.; 06-23-2009 at 07:28 PM. |
#3
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Edited to add that Rob beat me too it. Exactly. Last edited by Matt; 06-23-2009 at 07:29 PM. |
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And just to reiterate - this is an ambiguous issue and up to each seller to decide for themselves how they will handle it. Last edited by Matt; 06-23-2009 at 07:45 PM. |
#6
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Matt: If you end at a straight 10pm the bidders have no shot to respond to a bid placed right before the 10:01 timestamp. Correct? On the BST, with a hotly contested auction, your screwed if someone gets that last bid in just before the time stamp changes to 10:01. At least with the 5 minute rule, you can react... right? Am I missing something? It sounds like you are saying "get your best bid in by 10:00" but I would think the seller would prefer someone to be able to react against a high bid coming in at the last moment. And I agree, it is an ambiguous issue that is up to the seller and I am basing my thoughts off of Frank's outlined plan. |
#7
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I'll leave this thread alone at this point; just wanted to clarify that Frank's suggestion doesn't do anything to address Brad's concern. Last edited by Matt; 06-23-2009 at 08:12 PM. |
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The 5 minute rule may not solve the time stamp problem, as mentioned above. However, the 5 minute rule would give bidders who have been outbid the chance to come back with another bid. They have 5 minutes to decide whether or not to put in another bid. In that 5 minutes, some bidders will decide to bid again and some will decide to pass. If nothing else, the 5 minute rule will REDUCE the chances of having issues determining who the winner should be because everyone has more time to decide whether or not to bid. It will not totally eliminate the problem with the time stamp.
As others have mentioned above, it should be the responsibility of the seller to clearly establish the rules of the auction up front. It also should be the responsiblity of the seller to determine the winner in the event of any questions brought on by snipe bids. The moderators should not have to make that decision.
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#9
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Okay Matt, I will hang it up also. Sorry for the long winded discussion and I was mostly reacting to Frank's plan. I think the seller just needs to be SPECIFIC when there are no hard and fast rules. In Brad's original note, the seller could say "All bids up to and including 10:00pm". With that said, the 10pm bidder would win, 10:01 would not. Really, that is what Brad is saying in his original post. Be specific so there are no fights later. Regards, Michael
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