Why doesn't eBay offer REAL Auction Rules to Prevent Sniping?
By
Staten Island, NY Posted: 11/21/2016 1:00:00 AM
Don't you hate when somebody outbids you on eBay at the last second?
For what it's worth, eBay may call themselves an auction site, but they don't use REAL auction rules, which has a big effect on the outcomes of many of their auctions.
Unlike a traditional auction, eBay has a preset end time for each auction, making it easy for people to take advantage of the time limit and only bid at the last minute, making it impossible for anyone to bid again. This is known as "Sniping", because the final bid comes in out of nowhere at the last second.
In a real auction, there is no preset end time. The auction starts with an opening bid, and continues indefinitely as bids are placed. Every time a new bid is placed, the auctioneer asks if anyone is willing to bid higher, and the auction ends when there are no more bids.
Right now, eBay offers 2 basic ways to create a listing. You can have a regular auction and / or a Buy it Now listing. I think they should offer a third option for real auction rules in place of the preset end time. When a seller chooses this option, the auction starts off just like a regular listing with one exception. When the preset time is over, if there was a bid in the last 5 minutes, the end time is extended another 5 minutes to give other bidders a chance to place a higher bid.
Using this method, after the preset time ends, every time a new bid is placed, the end time continues to be extended by an additional 5 minutes until there are no counter offers.
This rule change is a win-win-win for the buyers, sellers, and eBay. Buyers get a second chance to raise their bid after the scheduled end time, plus the seller and eBay have the potential to earn more because the end price can continue to go up indefinitely.
Joe Crescenzi, Founder
(Reply N/A) (Edit Topic N/A)
(Like Topic N/A) [0 ] 6029 Views
Related Posts
Auctions(1)eBay(2)
Top 25 Posts
* Note: The ideas on "Idea of the Day" were posted without any formal research into existing inventions.
In some cases, patents may already exist for these ideas, in other cases, there may not be any existing patents and you are free to develop and explore the viability of developing and patenting the ideas.
The authors make no claim that any of the ideas are safe, practical, or suitable for any particular purpose. You are responsible for the results of trying, developing, patenting or using any of the ideas on this site.
For some people, our ideas are just an interesting read, but our goal is to encourage you to take action. If you see an idea that you like, do something with it... Take action.
- Joe
Idea of the Day!
on...