Loshings - Auto bid complaint

> The set up now is not typical of an auction, nor is
> it entirely fair to bidders.

But (surprise surprise...) it does guarantee a sale and fees for Trademe in facilitating that sale...

Let's all admit, Trademe's business practices are dodgy to say the least and that there is no viable alternative right now.

However, a simple monopoly in the market does not excuse a company's business practices from being open to scrutiny.

Lo.

> Oh dear. Lohsing, I carefully didn't pick out anyone
> in particular for the "childish" remark.

Ok - I am a bit touchy at the moment... tough day at work and all.

> Have any of you actually read trademe's written
> statement of how the Autobid works? There's
> quite a clear description of how it works.
>
> "If your auto bid is greater than the reserve then a
> bid is placed for you that is equal to the
> reserve".

I honestly don't believe that to be true.

> In the general rules:
>
> "If the reserve price is not met ... the item
> will not be sold. Neither the bidder nor the seller
> will be under obligation to complete the sale if the
> reserve is not met."

I know this. But I would still like an opportunity for a seller to offer the item to me for sale at (not necessarily) below the initial reserve.

More often than not, it's offered to me somewhere in between the top bid and reserve price as a compromise.

Trust me, I know how auctions are run and Trademe is most definitely not a typical auction process.

Lo.

If the reserve is not met, there is no sale. Seems clear to me.

Why not read the Trademe rules, and their explanation in their help pages?

Ironically, the perfect working hard drive I purchased off trademe a two months ago just crashed and took my server with it...

Growly,

How unusuall how big was it,

D.

If you don't believe that they follow their own rules, why don't you ask them. I'd suggest that you don't use the epistolatory style of some of those here if you want a reply. ;-)

As far as I can see, they give the vendor details of the highest bidder, and they can offer a compromise price. But there is no obligation to do so. Just as you are not obliged to pay your autobid "limit", if it's below the reserve.

I would say it is as "typical" as it can be. Live auctions I attend are more entertaining, with jokes and friendly insults between the regulars and the auctioneers.

The list of bids you see on trademe is created by computer. Autobids are processed before manual ones, but when two or more autobids are entered together, you might see only the result of "bang- bang" processing with only the limits of the two autobids shown. There's no point in displaying a series of bid increments. The bids are in; they have limits, so the highest limit will "win" at one increment above the next one (or at its limit if that's less . This could easily give the impression that it goes straight to the limit.

Murray P.

This is the point Trademe is A SCAM so many just cant or wont see it.

You have explained how an Auction below reserve works quite well, and why.

This also show's Trademe as the SCAM it is.

Monthly Education for the masses?

D.

> DUHHHHHHHHHHHHH :O
>
> Autobid is TO HELP YOU WIN!!
>
> Now naturally, the ONLY way to win by bidding is to
> be OVER the reserve!
>
> Therefore, Trademe's autobid naturally bids
> you up to your limit so that you will meet reserve.
> Otherwise it is useless.


George,

What percenrage of real Auctions sell under the hammer?

What percentage buy "Negotation" after sale DID NOT REACH Reserve?

The top bidder is usually the buyer in the negotiated sales at less than reserve, and frequently less than he was willing to pay.

Hence the maximum immediate auto bid on Scamme is to make money for Scamme, not to run a CLEAN Auction.

A little experience would not go amiss.

D.

Never forget, Never say Die.

Actually lohsing, I haven't struck that at all myself. It seems to operate exactly as Graham described.

If my max bid was over the reserve, then it just reaches the reserve price. Also, if it is under reserve price, then the maximum is registered.

So it is just a little confusing. I just wonder what circumstance could have caused it.
And I have to agree with with regards their response to queries and problems. Total disinterest and gives the impression of "go away and don't annoy us or we will remove you" . They certainly could do with some effort in the public relations area, but I suppose when you grow that fast, who cares.

Lo,

Have you considered giving the alternatives, oneway, allhours a little multilist support, on the off chance that someting may move and their sites may get better?

Things do sell on them its all related to size.

If the first diss-satisfied hadnt lined up for bellsouth, there would be no vodaphone or woosh?

D.