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Auction sniping (also called bid sniping) is the practice, in a timed online auction, of placing a bid likely to exceed the current highest bid (which may be hidden) as late as possible—usually seconds before the end of the auction—giving other bidders no time to outbid the sniper.
Proxy bidding is an implementation of an English second-price auction used on eBay, in which the winning bidder pays the price of the second-highest bid plus a defined increment. It differs from a Vickrey auction in that bids are not sealed ; the "current highest bid" (defined as second-highest bid plus bid increment) is always displayed.
Sealed bid – a submitted bid whose value is unknown to competitors. Sniping – the act of placing a bid just before the end of a timed auction, thus giving other bidders no time to enter new bids. Soft close – When a bidder places a bid in the last set amount of minutes and the auction is automatically extended for a set period of time.
1 eBay partner networks prohibits Sniping. 1 comment. 2 The Merge. 1 comment. 3 Sellers generally object to bid sniping. 3 comments. 4 Proxy Bidding as Antidote to ...
A first-price sealed-bid auction (FPSBA) is a common type of auction. It is also known as blind auction. [1] In this type of auction, all bidders simultaneously submit sealed bids so that no bidder knows the bid of any other participant. The highest bidder pays the price that was submitted. [2]: p2 [3]
In 2011, a bidder on eBay became the first individual to be convicted of shill bidding on an auction. [26] By taking part in the process, an individual is sometimes breaking the law, depending on the relevant jurisdiction, for example breaking the European Union fair trading rules which carries out a fine of up to £5,000 in the United Kingdom .
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These are the articles about different bidding strategies for auctions. Pages in category "Bidding strategy" The following 11 pages are in this category, out of 11 total.