I hope the ability to edit a posting (and thus the ability to edit a bid) never becomes an issue. Take this example:
- At 3:00, someone bids $100 for Item A;
- At 3:10, a person who had planned to bid $11 for Item A does not post their bid, as they see the $100 bid posted at 3:00;
- At 3:14, the person who placed the $100 bid at 3:00 edits that bid down to $10, as it was never their intention to bid $100, they merely hit an extra zero by mistake;
- At 3:15, the auction ends as per the end time previously indicated by the seller.
The end result is an auction item that should have sold for $11 instead selling for $10 due to the ability to edit a post.
(note: The solution to this could be an explicit prohibition, or rule, on editing after placing a bid.)
Last edited by Adam; 06-24-2009 at 01:25 AM.
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