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1964 Rene Herse Randonneuse goes for $12,000 on ebay(9 posts)

1964 Rene Herse Randonneuse goes for $12,000 on ebayChainstay
Nov 24, 2003 8:58 PM
not surprizedcyclopathic
Nov 25, 2003 9:15 AM
and it probably finished PBP a couple times too ;)
Now, I wouldn't pay as much, but I am an Alex Singer type of guy :o)

here's reference on Rene
something's weirdDougSloan
Nov 25, 2003 11:20 AM
The same bidder raised his bid from $9800 to $12000, apparently. That looks goofy, almost like it was not a real bidder, but someone driving up the price. There are several instances of that happening with other bidders, too. What am I missing?
It's called "proxy bidding"Alexx
Nov 25, 2003 11:49 AM
The guy who won the auction put in a proxy bid of some amount equal to or higher than the final bid. At first, the price was $9700 (or whatever), so his initial bid went down as $9800, even though he was willing to spend >$12000, and had actually bid that much.

Time passes. Another bid (or bids) try to raise the price to $11k and change. The proxy bid is still higher than that, so his bid automatically raises to the next set bid amount, in this case, $12k.

You obviously haven't used e-bay much, because this is a very common way bids are done.
Nov 25, 2003 2:42 PM
I sure as heck know how ebay and proxy bidding works. Did you look at the bid history? Assuming it's complete, and I don't know if it is, I know that proxy bidding does not cause you do bid against yourself. There should never be two bids in succession from the same person. If the indicated bid history is not complete, then this discussion is meaningless.

Do you agree?

Mechanics of proxy bidding,TJeanloz
Nov 25, 2003 11:49 AM
I'm not e-bay expert, but, I believe (and some e-bay expert will correct me if I'm wrong), the winning bidder would have put in his maximum bid of, say $15,000. When somebody bids $9795, he automatically outbids them at $9800, and their bid never registers.

I could be wrong though.
You are correct (nm)Alexx
Nov 25, 2003 2:17 PM
Doug, the reserve was 12,000.00lanterne rouge
Nov 25, 2003 2:59 PM
His first "highest" bid was 9800.00, but when that didn't meet the reserve he bid again and met the reserve at 12,000 and as such the auction price went to the reserve.
makes sense nmDougSloan
Nov 25, 2003 3:23 PM