| Grex > Coop11 > #241: Auction Procedures |  |
| Auction Procedures | 
Mar 6 07:29 UTC 2001 |
So Mark and I have been discussing starting up the auction again, to open about a month from now. So this item is for discussing auction rules. What worked well last time? What didn't?
| response 1 of 8: |
Mar 23 06:03 UTC 2001 |
Shall I take the lack of responses here to indicate that we did everything perfectly last time, and you're all just generally thrilled? ;) I'm about to enter the rules and other items in the newly created auction conference. At the risk of opening up a typical Grex endless debate, it would be good to know, both now and as things progress, what y'all like about how it works and what you find massively offensive and objectionable.
| response 2 of 8: |
Mar 23 06:30 UTC 2001 |
I know that previous auctioneers had an "auction wrap-up item" right after the auction closed. I didn't do that this time, becuase the auction ended gradually, and it was hard to find a clear point when it was *done*. So I don't think I ever publicly thanked those who contributed last time: People who donated to the auction included: otter, omni, danr, aruba, Carol, gull, srw, swa, janc, other, cmcgee, valerie, scott, jh, mary, jep, prp, jiffer, keesan, tpryan, gypsi, jdeigert. People who bought items in the auction included: gypsi, sekari, bruin, swa, valerie, cmcgee, jmsaul, kami, aruba, anderyn, misha, atticus, jiffer, jerryr, arthurp, carla, happyboy, prp, jep, brown, kentn, brighn, otter. Many thanks to both groups -- this is appreciated, even if a year late. ;)
| response 3 of 8: |
Mar 23 16:46 UTC 2001 |
Indeed - thanks everyone!
| response 4 of 8: |
Mar 23 17:36 UTC 2001 |
I think we did expect to take bids only in whole dollar amounts?
Should auctioneer set expected increase for higher bidded items?
That is, if an item is going to $50, should the auctioneer be able to
say that 'e expects $55 to be the next bid? (A $5 minimum increase).
| response 5 of 8: |
Mar 23 22:56 UTC 2001 |
I've never understood the logic behind minimum bid increases - is the psychology such that it increases the final price? Or is it just to make the bidding be over faster? If it's the latter, I don't think it has relevance for us, because we're not in a hurry to get auctions over with.
| response 6 of 8: |
Mar 24 07:31 UTC 2001 |
It certainly makes sense in a FTF auction! You might consider a "Fritz Auction". In this each bidder must pay *every bid* they make. It is a lot of fun, but should not be used except for an item now and then - especially for items that don't have great intrinsic value but moderate symbolic value. I once auctioned a match book via a Fritz Auction (from some bar in Kentucky that has nude dancing) for a total of ca. $20. Bids are very small, until someone thinks they can "pre-empt" the bidding by a big bid. I've never thought about any special rules that might be required for an on-line Fritz Auction, but none come immediately to mind.
| response 7 of 8: |
Mar 24 18:23 UTC 2001 |
I remember you mentioned that once before, Rane. It sounds like a fun thing to do at a FTF auction, where people can throw money into a hat as they bid it. But the Grex auctioneers always have to do a lot of work nagging people to pay as it is, and if they weren't even going to get anything for paying, it would be a lot harder.
| response 8 of 8: |
Mar 25 06:46 UTC 2001 |
Good point! In the FTF auctions I've run the bookkeeper keeps track of all the bids, and then makes sure no one leaves without paying! Hard to do on-line.