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Sales, Swaps, Auction & Approvals/Auction Disc. : How proxies work....and auctioneers picks

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amsd
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Editor, Seal News; contributor, JuicyHeads
01 Oct 2011
10:19:27pm
A bidder asked a question about proxies and I thought it might be useful to review both our rules on proxies and how they work.

if you look at our auction tutorial, there's both good information AND an explanation of how things work.

proxies ALLOW you to place the maximum bid you are willing to spend and be done with it. But the beauty of proxies is that you are only charged the minimum amount needed to win the lot. so, if you're the first bidder on a lot with an opening minimum of, say, $1 and you bid $10, the computer shows $1 and that's all you'll pay IF no one bids against you. If I bid against you and place a bid of $4, then the computer will automatically bid $4.50 on your behalf, and will continue to do so as long as others bid against you and those bids haven't gone above $10.

Not everyone likes to use proxy bids, but they are available and are automatic.

In addition, our auction doesn't reward "sniping," the practice whereby someone tries to win the lot at the last second with a bid placed with seconds to go. to combat sniping, our auction end time automatically extends itself any time the lot changes hands and there's less than 10 hours remaining. In those instances, the end time automatically resets to 10 hours, adding whatever additional time is required. this doesn't go into affect IF there was no previous bid; nor does it when a competing bid is placed but doesn't change who's winning.

I've included the relevant sections from the auction tutorial.

If you have questions, just ask


10. Our auctions work on proxy bids. A proxy bid and a maximum bid are the same thing. To place a proxy bid, just enter the maximum amount you are willing to pay. The system will use only as much of your bid as necessary to give you high bidder position. It will then automatically bid on your behalf, up to your maximum amount, if competing bids are placed. In this way, you can win the item at the lowest possible price. Your maximum bid is only placed when a competing bidder also bids up to that same amount. This is a great advantage for bidders, especially early bidders. Ties go to the earlier bidder. Nobody can see your maximum bid until the system needs to use it to beat another bid. Sellers may not bid on their own lots (the system will not allow it).

11. Last minute bidding. Our auction automatically eliminates "sniping," bids placed in the last second with hopes of beating all competition. Our auction automatically extends the auction by 10 hours any time the top bidder changes. This means that anyone who beats the high bidder will automatically extend the life of that lot for another 10 hours, even if that takes the close past the stated end time. This gives the previous high bidder (and anyone else) a chance to respond. The lesson in this, is "There is no advantage to bidding at the last second!"


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Bobstamp
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01 Oct 2011
10:59:54pm
re: How proxies work....and auctioneers picks

I am not a heavy auction bidder. I prefer to be offered stamps or covers at a fixed price. But sometimes you just have to go to the auctions.

I used to bid on eBay, and watched items like a hawk until I decided that it was not good for my heart: I would be at my computer, logged in to eBay, my heart pounding as the seconds ticked away, often ready to outbid the next person to bid. And, of course, I would often be sniped. (I never did figure out how sniping worked.) Once my computer froze when I tried to enter a higher bid, and when I got it restarted I had lost the lot.

Eventually I got smart and started bidding the maximum amount I thought I could afford rather than the least amount I thought might get the item in question. Now I just wait for notification that I've won (Yay!) or lost (That's the way the cookie crumbles.)

The Stamporama Auction model, however, has put eBay and any other auctions that I'm aware of in the auction dark ages. I love the fact that I'll always have time to consider a higher bid. It puts all of us on equal ground, and maximizes the sales of dealers.

My advice: Always bid the greatest amount you feel you can afford, and relax. And watch. Maybe you'll win the lottery before that coveted item closes, and you can raise your bid in comfort, knowing you at least won't be sniped.

Bob

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amsd
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Editor, Seal News; contributor, JuicyHeads
14 Oct 2011
11:02:06am
re: How proxies work....and auctioneers picks

I have a question for the membership. I have been posting lots of interest (at least to me) for years now.

As I look through auction lots, I occasionally stumble upon a lot that is in one way or another mislabled, misidentified, or uses a term incorrectly.

I thought about using these lots to educate the membership about terminology and such. I would probably do it as I encounter them, and there'd be little rhyme or reason other than I found something that I could use as a teaching tool.

First, for the general membership, would this be useful? welcome?

Second, for us lot listers, is there anyone out there who would object if I happened to use your lot to highlight something.

The floor is open...and in need of a good sweeping.

David, the auctioneer

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Bobstamp
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14 Oct 2011
11:23:52am
re: How proxies work....and auctioneers picks

David,

You asked, "First, for the general membership, would this be useful? welcome?"

Both useful and welcome, at least for those who have a "serious" interest in collecting and buying and selling in the auction. When it comes to philatelic knowledge of any sort, all of us are tyros to some extent and always will be.

Then you asked, "Second, for us lot listers, is there anyone out there who would object if I happened to use your lot to highlight something."

The best policy, especially if criticism or correction is required, would be to first contact the seller for permission. I have been stung very badly on a couple of occasions just for editing badly written newsletter submissions. Two members refused to let me change a word, even though as an English teacher I would have given very low marks for their writing. One seriously asked me to resign from the club.

Bob

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alyn
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http://alynlunt.com/stamps http://phabphilately.blogspot.com http://iswsc.org
14 Oct 2011
12:28:05pm
re: How proxies work....and auctioneers picks

I would welcome this as a member and would welcome feedback on the lots I post. I think that Bob's suggestion would work best on the whole when it comes to identifying specific lots up for auction.

Alyn

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dani20
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27 Oct 2011
11:56:27am
re: How proxies work....and auctioneers picks

Dear All,
David, our auctioneer, should have the complete trust of the membership which in the case of auctions, means that he has our best interests at heart. With that in mind, if he sees something that in his opinion would benefit the membership, he ought not to be required to double check with anyone to make the comments he would see fit to make. Would it be nice/courteous to do-sure. Should it be a requirement-I think not.

Our SOR has functioned rather well I think, over the years, with the assumption that our president, webmaster,auctioneer,secretary, VC all operate with the memberships interests in mind-no personal ego or political considerations are allowed to get in the way. Varied opinions, of course-disagreements-of course-but the bottom line is that at the end of the story, the membership interests are foremost.

Respectfully submitted,
Dan C.

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cdj1122
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Silence in the face of adversity is the father of complicity and collusion, the first cousins of conspiracy..
28 Oct 2011
11:01:48am
re: How proxies work....and auctioneers picks

" ... I would often be sniped. (I never did figure out how sniping worked.) ...."

It is quite simple;
Click here and scroll down
I always feel it is good for my heart and much cheaper and less time consuming than a trip to the VA hospital for another stress test or angiogram to determine if it can still take a strain.
Late night sniping often tests the kidney function also.

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Stampaholic
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29 Oct 2011
07:19:50pm

Auctions - Approvals
re: How proxies work....and auctioneers picks

I pretty much agree with Dan.

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musicman
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30 Oct 2011
10:00:08am
re: How proxies work....and auctioneers picks

....I pretty much agree with Carl, who pretty much agrees with Dan....

;-P


I think Dan is right - as head of the auctions, David should have the ability/right to respond as he sees fit in regard to the best interests of our members - the best interest being to keep things beneficial for everyone, be it clarity in listings or what have you.
If we don't allow him that ability to do so, there would be no purpose for his position.



Randy

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Stampaholic
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01 Nov 2011
07:03:49am

Auctions - Approvals
re: How proxies work....and auctioneers picks

Just curious, whatever happened to the "envelopeplease" guy? Did he change his name to protect the innocent?

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amsd
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Editor, Seal News; contributor, JuicyHeads
01 Nov 2011
02:38:05pm
re: How proxies work....and auctioneers picks

he's here, he just changed his name to a specific kind of envelope: an acronym for Air Mail Special Delivery


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