[CR]squee-bay

(Example: Racing:Jacques Boyer)

Date: Wed, 31 Dec 2003 12:16:25 -0800 (PST)
From: "Dale B. Phelps" <losgatos_dale@yahoo.com>
To: classicrendezvous@bikelist.org
In-Reply-To: <CATFOODFiFAnpDseLTu00003a06@catfood.nt.phred.org>
Subject: [CR]squee-bay

I am surprised that no one has mentioned the "old" style of distance auctions, used commonly in hobbies even like ours in the days of mimeographs and snail-mail newsletters: "Sealed-bid auctions."

Although squee-bay choses to call their approach "proxy" it is actually a sealed-bid auction, where the bids received before the deadline are opened at the pre-determined hour, and the winner is the highest bidders, the winning amount is determined by the second-highest bidder. Sound familiar?

People get hinky about "e-snipe"....but thats just like an efficient way to get last minute bids in under the wire, remember that since NO ONE knows anyone's high bids, no one benefits (or loses really) from being able to see a "high bidders" "current bid." Folks who speculate about whatever's behind it all, really need to get out for some HEALTHY adrenaline-and ride (i.m.o.)

One last comment about sellers pulling auctions. There is not a formal auction house in the world that would try to prevent sellers at large from doing this via sanction, UNLESS THE T&C OF THE AUCTIONEER SPECIFICALLY PRECLUDES IT. Now, suffice to say that in a REAL "live auction" (not a sealed-bid one) were a seller to pull their item after bidding has started, they may risk being hit with the auctioneer's happer, or pummelled with bidder's paddles ;^}

Y'all have a good holiday,

Phelpsie Los Gatos (for now) CA

===== Dale B. Phelps, JWST Mission Assurance Manager 303 939 6967 303 208 8664 pager

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