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#9
04-07-2010, 02:32 PM
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The issue for me is, by how much does the winner have to top the underbidder? I've lost umpteen ebay auctions by one dollar, when a dollar represented barely more than 1% of the selling price. I've even lost ebay lots by one cent. Any winning bid should top the underbidder by at least 10% or 5%, or any other published increment that is significant. Ebay is like a videogame with prizes.
REA's increments are clearly indicated and bidders have weeks to figure out their strategy. And as a consignor, do you want the winner to top a $5000 bid by $500, for example? Or by $50? Or by $21.17? 
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