$4100 USD for a sim?

Identity Protected US$4100.99 Oct-30-05 11:22:08 PST

for "Tenera 001 (128,12 57936 m2"
Wow!


Identity Protected US$4100.99 Oct-30-05 11:22:08 PST
Identity Protected US$1503.00 Oct-29-05 13:28:27 PDT
Identity Protected US$1502.00 Oct-30-05 11:21:57 PST
Identity Protected US$1501.00 Oct-29-05 13:28:27 PDT

Yeah, I placed some earlier bids on Tenera, but dropped out when it went over $1300 ... $4100 is over 1 million L$, over L$ 18 per sq meter ... I can't help but wonder if this is an alt bid that will default so that the second-highest bidder will get it.

I hope LL investigates this carefully if it defaults.

On edit: actually I went $1415 on this. Last week someone went $1900 on a telehub sim (which I thought was nuts given the current saturation of the land market), but $4100!?!?!

Identity Protected US$4100.99 Oct-30-05 11:22:08 PST
Identity Protected US$1503.00 Oct-29-05 13:28:27 PDT
Identity Protected US$1502.00 Oct-30-05 11:21:57 PST
Identity Protected US$1501.00 Oct-29-05 13:28:27 PDT

If someone bid 1502, and someone else bid 1503, and with an alt bid 4100, they would force themself to win by not paying the 4100 with the alt, right? How is that fair to the person who bid 1502 by forcing them to pay 4101 or lose?

Someone else would have to bid just under 4100, right?

Doesn't LL proxy bid for you? You don't just jump up to your max bid, that's dumb.

Well the amazing thing about the saturation, is that land prices keep going up. So I can see why the auctions are getting more demand. 4100 does seem extremely out of balnce though. I would guess it is either an alt that is going to default, or a newbie that thinks they are bidding in $L. Either way, I'm highly doubting this is serious. Why not get a private island if you are going to pay that much?

True ... someone else would have had to bid 4099 or whatever. Still easily done with alts. But obviously I'm not accusing anyone ... the sale could go through at 4100. But I hope not ... that's a heck of a precedent to set. Could be a p*ssing contest between a couple of the big players, I guess. Could be it's really worth an initial price of L$18-something a sq meter. I didn't see it, but I'm a newbie to this end of things.

Let someone overpay for a sim like that...

...I have never paid more than L$7/sq. m. for mature land and have always gotten what I wanted eventually.

I think land prices keep going up because everyone wants to be a land mogul and they're all competing to buy land to sell to others...

If I'm understanding you correctly, you think that the same real person bid the 1503 and the 4100.99, and the 1503 bidder had a max bid of 4100.98 or so? If so, nothing unfair will happen. When the 4100.99 bidder defaults on this auction, it will be offered to the second highest bidder for their MAX bid (4100.9 rather than the PORTION of their max bid which beat someone else (1503).

I've had this happen to me twice before where someone outbid me and then defaulted. Actually one time the person who won the auction wasn't even an SL member! In this case though it sure looks a lot like someone who doesn't know better trying to protect his $1503 bid. No worries though, if the $4100.99 biddder and the $4100.98 bidder (as you've pointed out, likely the same person) both fail to take delivery the sim will simply be re-auctioned.

Maybe I'm missing something here. It wouldn't be the first time.

But say I bid $1502.
Then I have an alt (Alt 1) bid 4099. The high bid moves to 1503 with Alt 1 winning.
Then I have another alt (Alt 2) bid 4100. The high bid moves to 4100 with Alt 2 winning.

But I know that both Alt 2 and Alt 1 will default, leaving me the winner at $1502.

So are you saying that in a double default the auction becomes null and void? That would be good ... at least at first glance.

If you think $4100 is high, check this out:

http://terranova.blogs.com/terra_nova/2005/10/the_winner_and_.html

Project Entropia just sold a "space station" for $US 100,000.

We've got nothin on that.

LF

Yes, this is what I meant, you put it in a better way than I did.

What's the highest a sim has gone for?
Tenera 001 (128,12 57936 m2 US$4,410.99 25m 38s
Edit: Identity Protected US$4510.99 Oct-30-05 11:22:08 PST

Competition doesn't work that way. If there was more competition, land prices would be cheaper. There would be more people trying to sell cheaper than the competition. This looks more like a temporary increase in demand. Land is selling at an incredibly fast pace right now, so everyone is raising their prices. Like all markets though, this price hike won't last. It will snap back, since auctions should keep the price of land in check for the long run. Watch what happens as more and more land gets supplied from the auctions. It won't stay up forever. Just wait for the teir fee to roll around on some of the people that overprice their land. They will sell low eventually. At some point competition will come in, and people will fight for your dollar again.

As far as I understand it the 3rd highest bidder doesn't get an option. If the highest bidder defaults, it's offered to the second highest bidder for their MAX bid. If 2nd highest declines to purchase at that price, it's re-auctioned. So in your scenerio, no, I don't believe the real you would get to buy it at all with both of your alts defaulting. Also, it used to be that to default you had to pay a fee... I think it was 10% of your bid. I'm not sure if this is still the case though.

Well, now the bidding is over and we can see the full details, it appears to have been an actual bidding war between two people , one of whom is already well-known for paying above-average prices for sims, and the other... Well, who is that?!

It was me and yes...it was an honest mistake...like i've already told the many IMs I got on it. I just became a premium member a couple days ago. I was looking for land, found one, it took me to the auction page, where I did bid at 5000....LINDENS. I had no CLUE you could even bid in US$. As soon as I realized what happened, which was right after, I IMed Live help and was told to email them. So I did and it wasn't fixed before it closed. I do not want to be charged for that. I do not have that kind of money. I have two kids and I'm a nursing student. I can't even buy lindens..I have to work for them LOL. But they can look at my account and see it was an honest mistake...that I've definitely learned from. I'm sorry if I messed up anyone's bids. That was not my intent and I wish I never bid on it. But now...I know. I'm hoping they will fix this without charging me anything b/c I really can't afford that. Any suggestions...please help lmao.

My advice is to not rely on email, but to call Linden Lab immediately. That is the type of thing that needs to be handled live. Here are the numbers, from the web site:

We also have toll-free support lines staffed during our office hours (8am - 6pm PST Monday thru Friday), please call 1-800-860-6990 (in the US and Canada), (00) 800 722 00010 (in the UK), and (0011) 800 722 00010 (in Australia).

/me waves to cris

I suggest you read what I said again...I was speaking of competition between people to BUY land because they all want to be land moguls...

...so in essence, you are agreeing with me--there is a temporary increase in demand.

Yeah, they need to make it more clear on their website that you're bidding in US dollars.


Cause this really sucks for the #2 guy who bids.

Well is the number 2 guy charged the fee for not buying the land? If not, they could just let it go to auction again, and try to be the winning bidder at a lower price.

I hardly see how it could be any clearer. And I know you know all this, Blaze, but just to review what people have to step through...

1. The auction listing prices say "US$1000.00" (e.g.)
2. If you click either on the sim name or on the Bid Now button, you're taken to a page where it has both the starting price and the max bid box with "US$" in front.
3. Then, if you do enter a bid amount, you get a page that gives your maximum bid with "US$" in front and the instruction to "carefully review your bid." As well as text that warns if the auction is in US dollars, the total bid amount may be charged immediately and to make sure you have wiggle room on your credit card -- obviously heavily paraphrased --

I guess the next step is big flashing red letters on the page saying, "This Auction is for Real Money!". But then, someone will say, "but I'm color-blind and anyway, the flashing gave me a grand mal seizure ala The Andromeda Strain" um, ... but I digress. LOL

Bahaha! Huge bug. I'll hotline it...

Click on "Place Bid" without entering anything.

LOL! No wait! LOL ... let me check 'em all out first. You're an evil genius, doctor!!

Hmmm ... for me it looks like it's handling it correctly. I get an error message:

The following must be corrected before continuing:
• Your maximum bid - Your bid must be at least US$1,317.00.

In cases where I currently have the high max bid, it correctly shows that I would have to bid higher than than my own max bid, but it doesn't reveal others' max bids. You seeing something else? IM me if you don't want to post ... I'm dying of curiosity.