I can see it working the other way. What if a card is at $50 with 30 seconds left. Two bidders come in with snipes, one at $200, the other at $205. The card is sold the one of the snipers for $202.50. He is pissed because he is thinking he was going to steal the card for around $50-$60. Instead he winds up at close to his max bid. I can see him trying to bail out of the deal. If a buyer thinks he is not getting a deal, he is not going to want a pay. If he winds up stealing the item, then he is wanting to pay every time. I don't think this is a good deal at all!
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Originally Posted by Exhibitman
That's an interesting change. Not sure what to think of it. it would seem to be a partial solution for shill bidding. If you get run up by a shill at the end you can bail out rather than trying to get the seller to mutually rescind. There is definitely a potential for abuse.
I don't think sellers need the same rescission right because they are able to set the open and set a reserve if they don't want to risk a low bid auction.
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