Another Question Regarding Net54 Auctions: Final Price...
 

Here is another question about net54 B.S.T. auctions that deserves to be discussed. This bothers me even more than the time stamp issue that I brought up last night.

Here goes:

Suppose the following bids were placed on a net54 B.S.T. auction prior to the auction closing.

Bidder #1: $100
Bidder #2: $150
Bidder #3: $200

Bidder #3 has won the auction, because he has the highest bid. But how much does he pay for the card? Does he pay $200? Or does he pay some bid increment over $150?

It seems to me that bid increments should be specified in the B.S.T. auctions, but I rarely see them mentioned.

I am anxious to hear your thoughts on this... Does the seller expect bidder #3 to pay $200? Or should he pay $152 (or some bid increment over $150)? Should sellers be required to list a bid increment in the rules of the auction?

$200, but I like the way you think.

Once again, it's up to the seller.

my guess
 

First of all if it doesn't say to bid a specific increment then I would guess he/she would need to pay $200. If that is what the person wants to bid who am I to say? They could have bid $150.01 but they didn't. It is an ambigous way to do an auction and hopefully this thread will help this predicament not to happen. The board has pretty much said we don't want rules but should there be a few things as a sticky that need to just be said, such as ending time, shipping fees (at least if winners do or don't pay shipping) and bid increments? Just a thought to try to help. I am in no way favoring having any rules I am just throwing this out there as a possible solution to some things that really should be mentioned. regards

Pay What You Bid
 

You should pay whatever amount you bid. If bidder 3 bids 200, they pay 200. All bids can be seen. If bidder 3 didn't want to spend 200, he should bid the minimum above the current high bid. I can see lots of problems with your scenario.

Since it takes more than $200 to top bidder #3, I am assuming as the seller that he intends to pay $200. You should bid what you intend to pay if you win.

Agree. Otherwise you would get bids like.


Bidder #1: $100
Bidder #2: $150
Bidder #3: $2000.00


Bidder #3 shuts everybody else out because the bids are public and wins the card for $152.00.