Question for Auction Users
18 years ago
General
We've had a few people ask why we do Dutch bidding the way we do on FurBuy. And I'm a little confused. I thought the system worked well, and that it was the way things were supposed to be.
The way it works now:
You place a Direct bid on the auction, and it puts your bid in the list of all bids on the auction. The bids are ranked highest to lowest (and oldest to newest on bids of the same level). The top X bids depending on the number of auction items available, win. The price they pay is equal to the lowest of the winning bids.
It makes sense to me, but apparently it doesn't make sense to other people, and I'd like to know why, so maybe we can improve it. So for anyone who has had questions about our Dutch Bidding service, please tell me:
How do YOU think Dutch bidding should work and why?
The way it works now:
You place a Direct bid on the auction, and it puts your bid in the list of all bids on the auction. The bids are ranked highest to lowest (and oldest to newest on bids of the same level). The top X bids depending on the number of auction items available, win. The price they pay is equal to the lowest of the winning bids.
It makes sense to me, but apparently it doesn't make sense to other people, and I'd like to know why, so maybe we can improve it. So for anyone who has had questions about our Dutch Bidding service, please tell me:
How do YOU think Dutch bidding should work and why?
FA+

I just think you should hold an auction where the top three bidders get in, and the rest don't. Make it as simple as that. Perhaps I'm not understanding the "low bid" part. If there's a specific reason behind doing that, share it with me so I understand better. The dutch bidding thing was the first time I've ever bid that way, so I was kind of clueless. I'm sorry it got so complicated on my end=)
Um, that's -exactly- how it works right now...
Perhaps I'm not understanding the "low bid" part.
The closing cost per item uses the lowest winning bid as the price each winner pays per item because that was the lowest of the winning bidders bids. And it's completely fair. This is how the Dutch people have done their public auctions for centuries. The reason as a bidder that you'd want to bid higher than the lowest required though is similar to the Proxy Bid function on a normal auction - it keeps your bid in the winner's list and ensures that you'll get one of the items for sale. But the price should reflect what you're willing to pay for the item, not what you want to pay at the end. What everyone pays at the end is the bid of the lowest winning bidder. The lowest winner sort of "sets the bar" for what everyone pays.
I think what you may be confused by is that the seller put ladder options inside a Dutch Auction, and the two do not mix well under the current arrangements on the system. However, we DO have plans to eventually add both Normal Ladder and Dutch Ladder auctions to the FurBuy system, which will alleviate that specific confusion (assuming sellers aren't confused by the option to run another two possible types of auctions). Sometimes it's difficult to add more functionality and rules without confusing folks though, so it's been sitting on the back burner stewing for us as to whether or not we move forward with Ladder Auctions.
Does that help any? =)
I'm not mad or anything, especially since Ksharra has agreed to do a 15 character commission for me for the $350. I think that's a great deal, especially considering the artist. I'm just trying to help other people understand how the system works. And like I said in other journals, I'm not crapping on FurBuy, especially considering the fact that you guys run it for free=) I just don't want more confusion like I had with previous experiences, to save other people the trouble.
If they don't purchase all of the items, then the second winning bidder gets a chance to buy the remaining items at their bid price, and so on down the chain of all bidders till all items are sold (or the bid price drops below the minimum bid.)
That's slightly different than the explanation I'm reading here.