I'm not sure I understand the concern with extended bidding or not having a maximum bid option. Since there is no maximum bid entry apparatus, bidders either have to check-in to bid at auction close, or they need to put in a competitive bid when they can and hope it holds. this is good for sellers. And the extended bidding time also favors sellers and prevents an exclusive snipe strategy. Fairly favoring the sellers is good for bidders - because it promotes more auctions.
As I mentioned above, do y'all think increasing the minimum bid in the extended time (ideally also for the last minutes of regular time) would make sense and be something that would make things more pleasant for bidders? $1 bids at the end and in extended time are tedious. It is fun to win by a dollar, but it is annoying for everyone else.
If I was designing a digital platform, I'd think about incorporating an auto-figuring percentage of the current bid minimum bid for the last five minutes and into extended time to avoid the chump-change snipes for the win.
|
12-11-2022, 01:51 PM
Similar Threads
Hybrid Mode
