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I would offer only the minimum increment over
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Posted by Jeff [Email] (more from Jeff) on Thu, 26 May 2005 13:33:36 Share Post by Email
In Reply to: auction ethics question., Jimbo, Thu, 26 May 2005 06:17:29
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what was the third highest bid.

Buyer 3 willing to bid up to $1000
You willing to bid up to $1500
"Winning" bidder bid something higher

Say buyer 3 was winning teh auction with a bid of $500.
You enter your max bid of $1500 which raises buyer 3s bid to his max ($1000) and enters your bid at $1025 or whatever the increment is.

"Winning" bidder enters max bid of $50,000, which raises your bid to your maximum ($1500), and "winning" bidder has the "winning" bid of $1525.

"Winning" bidder "backs out", leaving seller knowing you were willing to go to $1500, a price at which he kindly offers to sell the car to you.

I think the $1025 is what you should pay if buyer 1 backs out and you still want the car.

I'd look into reporting this conduct to auction site also.

posted by 128.190.22...

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