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TOPIC: FAILED Post-post-PAX pre-pre-MomoCon 8k auction

Post-post-PAX pre-pre-MomoCon 8k auction 1 month 2 weeks ago #13

Braxton wrote:
Right, thats how ebay does it, but it seems like excessively annoying to have this back and forth via PMs. Seems much better if I can just clarify that I'll be taking bids only in increments of the bid increment. Maybe I should just make that explicit:

Bids have to be divisible by the bid increment.


I've added this to the auction rules, and also changed the cutover points of the $0.25 bid increment to be $20.

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Post-post-PAX pre-pre-MomoCon 8k auction 1 month 2 weeks ago #14

Arnold wrote:

Braxton wrote: Okay, honest question about how to process bids.

Existing bid on PYP: $100
Subsequent bid comes for $106.

I think the current revealed bid would be $105 ($100 previous bid + $5 bid increment)?

But let's say the next bid to come is $110. I think the new revealed bid should just be $110 ($105 visible bid + $5 bid increment).

In which case, what was the point of the $106 bid vs a $105 bid?

I hope I'm doing this right.


New bid @ $106 would appear as $105. That is correct since you've referenced Ebay style.

The bid @$110 would be invalid. The minimum bid would be $111, since the bidder above submitted a bid of $106. You'd need to tell the guy/gal bidding $110 that his/her bid is invalid and would need to be at least $111.

That is how Ebay handles the scenario above, just automated.


I would posit that the bid of $110 would still be valid in that scenario. My understanding is that the bid increment describes the minimum someone placing a new bid needs to offer, so if PYPs were at $106 a new bidder would need to offer $111. When new high bids come in all winning bids are updated to the lower of current bid + bid increment or the maximum bid, so you could have a scenario where you have

bidder a bids $106 on 30 PYPs
bidder b bids $110 on 30 PYPs

where the winners are:

bidder a - 4 PYPs @ $106
bidder b - 30 PYPs @ $110

(I think I have that all right, but feel free to correct me.)

That said, ensuring all bids are multiples of applicable bid increments could make things simpler.

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Post-post-PAX pre-pre-MomoCon 8k auction 1 month 2 weeks ago #15

I almost created the exact situation of bidding $106 on PYP. I read through the rules and found the second one confusing because of the word least (You must bid at least the current bid + the bid increment.). This led me to believe that if I bid $106 I fulfilled the bid increment of five dollars and would have a higher bid than all of the $105 bidders. My experience with ebay is a minimum bid increment that is exceeded sets a new threshold for the next minimum bid. You would then not be on the numbers divisible by five. As Arnold said Ebay is automated.

Your solution should work. By the way I did not bid the $106 since I have only been bidding on auctions for about 6 months.

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Post-post-PAX pre-pre-MomoCon 8k auction 1 month 2 weeks ago #16

If people who have bidded have concerns and would like to address in private, feel free to PM me.
Sorry for the confusion!

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Post-post-PAX pre-pre-MomoCon 8k auction 1 month 2 weeks ago #17

Arnold wrote:

Braxton wrote: Okay, honest question about how to process bids.

Existing bid on PYP: $100
Subsequent bid comes for $106.

I think the current revealed bid would be $105 ($100 previous bid + $5 bid increment)?

But let's say the next bid to come is $110. I think the new revealed bid should just be $110 ($105 visible bid + $5 bid increment).

In which case, what was the point of the $106 bid vs a $105 bid?

I hope I'm doing this right.


New bid @ $106 would appear as $105. That is correct since you've referenced Ebay style.

The bid @$110 would be invalid. The minimum bid would be $111, since the bidder above submitted a bid of $106. You'd need to tell the guy/gal bidding $110 that his/her bid is invalid and would need to be at least $111.

That is how Ebay handles the scenario above, just automated.


Is that how eBay handles that scenario? I thought on eBay you just had to beat the old bid, so in the above scenario if the visible bid was $105 and the existing high bid was $106, a new bid of $110 would be valid.

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Post-post-PAX pre-pre-MomoCon 8k auction 1 month 2 weeks ago #18

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ralykam wrote:

Arnold wrote:

Braxton wrote: Okay, honest question about how to process bids.

Existing bid on PYP: $100
Subsequent bid comes for $106.

I think the current revealed bid would be $105 ($100 previous bid + $5 bid increment)?

But let's say the next bid to come is $110. I think the new revealed bid should just be $110 ($105 visible bid + $5 bid increment).

In which case, what was the point of the $106 bid vs a $105 bid?

I hope I'm doing this right.


New bid @ $106 would appear as $105. That is correct since you've referenced Ebay style.

The bid @$110 would be invalid. The minimum bid would be $111, since the bidder above submitted a bid of $106. You'd need to tell the guy/gal bidding $110 that his/her bid is invalid and would need to be at least $111.

That is how Ebay handles the scenario above, just automated.


I would posit that the bid of $110 would still be valid in that scenario. My understanding is that the bid increment describes the minimum someone placing a new bid needs to offer, so if PYPs were at $106 a new bidder would need to offer $111. When new high bids come in all winning bids are updated to the lower of current bid + bid increment or the maximum bid, so you could have a scenario where you have

bidder a bids $106 on 30 PYPs
bidder b bids $110 on 30 PYPs

where the winners are:

bidder a - 4 PYPs @ $106
bidder b - 30 PYPs @ $110

(I think I have that all right, but feel free to correct me.)

That said, ensuring all bids are multiples of applicable bid increments could make things simpler.


+1.

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Post-post-PAX pre-pre-MomoCon 8k auction 1 month 2 weeks ago #19

Happy valentines day! You know what your loved ones want? Tokens.

Good deals here!

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Post-post-PAX pre-pre-MomoCon 8k auction 1 month 2 weeks ago #20

Mike Steele wrote: Is that how eBay handles that scenario? I thought on eBay you just had to beat the old bid, so in the above scenario if the visible bid was $105 and the existing high bid was $106, a new bid of $110 would be valid.


I stand corrected. You're right, Mike.

As long as the new bid beats the old one, Ebay will honor the higher one. I forgot that visible bids are not necessarily the existing high bid.
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Post-post-PAX pre-pre-MomoCon 8k auction 1 month 2 weeks ago #21

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The only time the $106 bid comes into play is if you have 33 people with bids of $105 and one with $106. If you then had 33 more bids for $110, the $106 would be the last bid standing of the initial group.

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Post-post-PAX pre-pre-MomoCon 8k auction 1 month 2 weeks ago #22

Arnold wrote:

Braxton wrote: Okay, honest question about how to process bids.

Existing bid on PYP: $100
Subsequent bid comes for $106.

I think the current revealed bid would be $105 ($100 previous bid + $5 bid increment)?

But let's say the next bid to come is $110. I think the new revealed bid should just be $110 ($105 visible bid + $5 bid increment).

In which case, what was the point of the $106 bid vs a $105 bid?

I hope I'm doing this right.


New bid @ $106 would appear as $105. That is correct since you've referenced Ebay style.

The bid @$110 would be invalid. The minimum bid would be $111, since the bidder above submitted a bid of $106. You'd need to tell the guy/gal bidding $110 that his/her bid is invalid and would need to be at least $111.

That is how Ebay handles the scenario above, just automated.


I have bid on ebay a lot and that has never one been how they handle it. The bid needs to be only above it, not a certain dollar amount above it.
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Post-post-PAX pre-pre-MomoCon 8k auction 1 month 2 weeks ago #23

archmage78 wrote:

Arnold wrote:

Braxton wrote: Okay, honest question about how to process bids.

Existing bid on PYP: $100
Subsequent bid comes for $106.

I think the current revealed bid would be $105 ($100 previous bid + $5 bid increment)?

But let's say the next bid to come is $110. I think the new revealed bid should just be $110 ($105 visible bid + $5 bid increment).

In which case, what was the point of the $106 bid vs a $105 bid?

I hope I'm doing this right.


New bid @ $106 would appear as $105. That is correct since you've referenced Ebay style.

The bid @$110 would be invalid. The minimum bid would be $111, since the bidder above submitted a bid of $106. You'd need to tell the guy/gal bidding $110 that his/her bid is invalid and would need to be at least $111.

That is how Ebay handles the scenario above, just automated.


I have bid on ebay a lot and that has never one been how they handle it. The bid needs to be only above it, not a certain dollar amount above it.


EBay does have bid increments. I just checked a $133 auction, and it's a $2.50 bid increment to place a bid.

It would be nice if the bid increments here were only $2.50 for $100 or more. :)

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Post-post-PAX pre-pre-MomoCon 8k auction 1 month 2 weeks ago #24

Small PYP + Dragon Orb movement. Sunday bump.

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