AH Blues

[Peter_Spaeth]

A study by Gerding, Rogers, Dash and Jennings at the University of Southampton (UK) titled “Sellers Competing for Buyers in Online Markets: Reserve Prices, Shill Bids, and Auction Fees” states, “Another popular type of auction fee is the buyer’s premium, which is paid by the winner of the auction and is a fraction of the closing price … note that a bidder with a given valuation will correct his/her bid … such that the bid plus the fee … is equal to the bidder’s valuation. Interestingly, since all buyers thus lower their bids, the seller ends up paying the fee even though the fee is originally charged to the buyers.”

[RedsFan1941]

the study obviously was written by a bunch of auction house cronies who are very angry

[tiger8mush]

Originally Posted by Peter_Spaeth

"...Interestingly, since all buyers thus lower their bids, the seller ends up paying the fee even though the fee is originally charged to the buyers.”

Yeah but thats not Webster's definition of a bid so it can't be true

[RedsFan1941]

just got a text from the troll. his shift under the bridge scaring weary travelers ends at 9. he will check in then.

[Fballguy]

Originally Posted by RedsFan1941

just got a text from the troll. his shift under the bridge scaring weary travelers ends at 9. he will check in then.

Old man humor. I love it. I feel like I'm being trashed talked to by this guy.

[Fballguy]

Originally Posted by Peter_Spaeth

A study by Gerding, Rogers, Dash and Jennings at the University of Southampton (UK) titled “Sellers Competing for Buyers in Online Markets: Reserve Prices, Shill Bids, and Auction Fees” states, “Another popular type of auction fee is the buyer’s premium, which is paid by the winner of the auction and is a fraction of the closing price … note that a bidder with a given valuation will correct his/her bid … such that the bid plus the fee … is equal to the bidder’s valuation. Interestingly, since all buyers thus lower their bids, the seller ends up paying the fee even though the fee is originally charged to the buyers.”

The University of Southhampton? What's the matter, couldn't find a study from Bangladesh? Don't get me wrong, who better to go to for insight on the bidding habits of Americans in the sports memorabilia market than the Brits...after all they were playing the game back when it was still known as BaseRock.

Amazing they know the thought process of "all bidders". Sounds like a thoughtful study.

[Peter_Spaeth]

The rants of a guy on a chatboard who is a minority of one doubtless are more persuasive.

[RedsFan1941]

"mom! the meat loaf! we want it now!"

[Snapolit1]

Tired issue. . . I've posted on it a number of times myself and mostly been told I'm wrong. I think AHs love the BP because it does lead to higher bidding prices. In a perfect world all buyers would religiously include the vig in their bids. They don't. Just like why someone says a meal at a restaurant cost us $100, and not $120 including a tip. People aren't perfect decision making machines. Particularly with regard to a discretionary purchase like a collectible that they are passionate about. But most people here are perfectly rational and analytical in their bidding approach so I may be in the minority.

I've also had more than a few drinks at charity auctions and overbid for crap that I really don't need.

[Aquarian Sports Cards]

Originally Posted by Snapolit1

Tired issue. . . I've posted on it a number of times myself and mostly been told I'm wrong. I think AHs love the BP because it does lead to higher bidding prices. In a perfect world all buyers would religiously include the vig in their bids. They don't. Just like why someone says a meal at a restaurant cost us $100, and not $120 including a tip. People aren't perfect decision making machines. Particularly with regard to a discretionary purchase like a collectible that they are passionate about. But most people here are perfectly rational and analytical in their bidding approach so I may be in the minority.

I've also had more than a few drinks at charity auctions and overbid for crap that I really don't need.

remind me to notify you of my next charity auction