OT eBay: How does this bidding come about?

Here are some bids from a coin auction currently in process:

numismacast ( 45) US $305.00 Aug-27-04 11:57:16 PDT
andrew7kyle ( 53) US $300.00 Aug-26-04 23:37:17 PDT
rmv9995ysi ( 2 ) US $300.00 Aug-27-04 09:01:49 PDT
goffco ( 205) US $258.00 Aug-26-04 17:51:30 PDT


Note the two bids for $300. How can both bids be valid? I know that at
end of bidding ties result in the earlier bid winning, but this is still
in progress.

Scot Kamins wrote:
Here are some bids from a coin auction currently in process:

numismacast ( 45) US $305.00 Aug-27-04 11:57:16 PDT
andrew7kyle ( 53) US $300.00 Aug-26-04 23:37:17 PDT
rmv9995ysi ( 2 ) US $300.00 Aug-27-04 09:01:49 PDT
goffco ( 205) US $258.00 Aug-26-04 17:51:30 PDT

Note the two bids for $300. How can both bids be valid? I know that at
end of bidding ties result in the earlier bid winning, but this is
still in progress.

You have to reconstruct what each bidder saw when they placed their bid.
Reordering the bids chronologically also helps. Let's say the auction
started at $100. goffco is first, and proxies $258. The current bid
would then be $100. andrew7kyle then comes along, and proxies $300. The
Current Bid goes to one increment above goffco's, or $263. rmv995ysi
then comes, and also proxies $300. This is a legal bid, because it is at
least one bid increment above the Current Bid ($263). However, since it
ties the earlier bid, it is not a winner, and the auction would then
show andrew7kyle winning with a $300 Current Bid. Subsequently,
numismacast comes along and proxies some unknown amount, moving the
Current Bid up one increment to $305.

--
Bob

andrew7kyle's bid was placed before that of rmv999ysi, and therefore would
win if numismacast withdraws his bid and no one else bids. If then andrew
retracts his bid, rmv wins. Thus all bids are valid until someone
consummates the deal.

"Scot Kamins" wrote in message
...

Here are some bids from a coin auction currently in process:

numismacast ( 45) US $305.00 Aug-27-04 11:57:16 PDT
andrew7kyle ( 53) US $300.00 Aug-26-04 23:37:17 PDT
rmv9995ysi ( 2 ) US $300.00 Aug-27-04 09:01:49 PDT
goffco ( 205) US $258.00 Aug-26-04 17:51:30 PDT


Note the two bids for $300. How can both bids be valid? I know that at
end of bidding ties result in the earlier bid winning, but this is still
in progress.

Oh - right! Protection from retractions. Hadn't thought of that.

Thanks!


In article ,
"James Higby" heezerbumfrool[at]yahoo[dot]com wrote:

andrew7kyle's bid was placed before that of rmv999ysi, and therefore would
win if numismacast withdraws his bid and no one else bids. If then andrew
retracts his bid, rmv wins. Thus all bids are valid until someone
consummates the deal.

"Scot Kamins" wrote in message
...

Here are some bids from a coin auction currently in process:

numismacast ( 45) US $305.00 Aug-27-04 11:57:16 PDT
andrew7kyle ( 53) US $300.00 Aug-26-04 23:37:17 PDT
rmv9995ysi ( 2 ) US $300.00 Aug-27-04 09:01:49 PDT
goffco ( 205) US $258.00 Aug-26-04 17:51:30 PDT


Note the two bids for $300. How can both bids be valid? I know that at
end of bidding ties result in the earlier bid winning, but this is still
in progress.