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Question About Purchasing Auction Land |
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deerheart Honey
Registered User
Join date: 26 May 2005
Posts: 3
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11-05-2005 09:38
I have a question and being new at all of this I am hoping someone can give me some advice here. There are two pieces of land for auction next to some land that I own and I placed a bid on each of them. The moment I placed my bid an unidentified person upped it and outbid me. It happened within seconds. I tried it again and the same thing happened. If I keep bidding I will just outbid myself and if I wait and place a bid right before the close of bidding won't this inidentified person's automatic bid just outbid mine? Do I even have a chance at this auction or is just a land baron who will win the bid no matter what and then I will have to purchase the parcel from them when they sell it? It doesn't seem fair as I thought we all had a chance at bidding but then life isnt always fair. I looked at some of the already closed auctions and see that someone placed their higher bid on 10/28 and even though the person bid to 10/30 the 10/28 higher bid beat them out. Is there any reason to participate in these auctions? How are their bids going in automatically anyway when I am sitting there entering mine manually? And why are they unidentified?
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Dnate Mars
Lost
Join date: 27 Jan 2004
Posts: 1,309
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11-05-2005 09:45
I have a question and being new at all of this I am hoping someone can give me some advice here. There are two pieces of land for auction next to some land that I own and I placed a bid on each of them. The moment I placed my bid an unidentified person upped it and outbid me. It happened within seconds. I tried it again and the same thing happened. If I keep bidding I will just outbid myself and if I wait and place a bid right before the close of bidding won't this inidentified person's automatic bid just outbid mine? Do I even have a chance at this auction or is just a land baron who will win the bid no matter what and then I will have to purchase the parcel from them when they sell it? It doesn't seem fair as I thought we all had a chance at bidding but then life isnt always fair. I looked at some of the already closed auctions and see that someone placed their higher bid on 10/28 and even though the person bid to 10/30 the 10/28 higher bid beat them out. Is there any reason to participate in these auctions? How are their bids going in automatically anyway when I am sitting there entering mine manually? And why are they unidentified? The bid works the same way that the bidding on e-bay works. You place a max price that you want to bid, and the system will bid upto that price. It will only bid you higher, if possible, of the next highest bid. So if person X bids 10000l for the land, and the current bid is at 5000l and you bid 7500l, then the system will take your bid of 7500l and then over bid you with 7600l from bidder X. _____________________
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Schwanson Schlegel
SL's Tokin' Villain
Join date: 15 Nov 2003
Posts: 2,721
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11-05-2005 09:48
The auctions use proxy bidding.
How does "Maximum Bid" work? When you enter a bid significantly higher than the current high bid, then the system will automatically bid for you up to the point of your maximum bid. This makes it less necessary to be online at the time the auction ends. The amount of the bid will be the minimum needed to outbid competing bidders. For example, if the current high bid is US$50, and you bid US$100, then a bid of $51will be automatically placed for you. If someone else bids US$75, then a bid of $US76 will be placed for you - and so on. If someone bids $101, then an email will be generated to you that you have been outbid. http://secondlife.com/auctions/faq.php I would suggest entering the maximum you are willing to pay for those parcels, and revisit the auctions after they have closed. _____________________
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deerheart Honey
Registered User
Join date: 26 May 2005
Posts: 3
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Thanks
11-05-2005 11:38
Thank you both - got it now!
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