> -----Original Message-----
> From: Frank Costa [SMTP:red_rover@xxxxxxxxxxxxx]
> Sent: Wednesday, December 02, 1998 3:25 AM
> To: olympus@xxxxxxxxxxxxxxx
> Subject: [OM] Online auction editorial
>
> I've recently been searching for a decent deal on a 50 3.5 macro, so I
> decided to check out the offerings on a certain infamous auction house
> (rhymes with over-pay, wrong-way and D-day, you get the idea). As luck
> would
> have it, or so I thought, there were 4 auctions going for this item at the
> same time, so I assumed I'd be able to snatch one under $150 without too
> big
> a headache. How wrong I was. It seems that the typical modus operandi is
> this:
>
> 3 or 4 people bid on the item in a humane, sane manner. You enter the
> most your willing to pay, the computers do the rest, incrementally
> matching
> other bids until you win or are overbid. Everythings just dandy. That is
> until a maniacal, shameless, profit-driven collector-seller comes along
> and
> bids at the last minute(sometimes within the last 5 seconds, I kid thee
> not), and takes his prize at a couple of bucks over the current high
> bidder,
> thus guaranteeing him any item he wishes as long as he's willing to stay
> at
> his computer 24 hours a day with 6 timers on the wall, sans life. I saw
> the
> same fellow get 3 of these lenses in this manner, and I was the high
> bidder
>
Sounds very much like some bidders are using an automated bidding
program - much the same as automated financial trading systems. This
probably will work OK (for the automated bidder) until you get several
automated bidders competing.
...Wayne
< This message was delivered via the Olympus Mailing List >
< For questions, mailto:owner-olympus@xxxxxxxxxxxxxxx >
< Web Page: http://Zuiko.sls.bc.ca/swright/olympuslist.html >
|