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Prom

Autobid logic confusion

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Prom    10
Prom

This seems strange to me. Ju1ian placed a bid probably for R1 with an autobid of R44. Bendew then placed a bid of R21. Ju1ian's bid would have then been R21.

 

The problem comes when I then bid R41 with an autobid of R61 thinking that if someone bids R61 my autobid will stay. I then see that my bid was raised to the full R61 but Ju1ian's only to R44. Shouldn't my bid increase to the next highest instead of just increasing to the ceiling amount?

 

If I just bid R45 with my autobid or even R41 with an autobid of R45 it would now be less. If I entered R65 it would have been even more! This just seems flawed to me. What's also odd is that Ju1ian's bid was raised to R44 despite not winning when it might as well have stayed at R21. Isn't the purpose of an autobid just to avoid being outbid and not raise the price itself?

 

Metalworking Tooling - 6" 150 mm Digital CALIPER VERNIER GAUGE MICROMETER for sale in Johannesburg (ID:65429638)

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lilythepink    10
lilythepink

I'm not sure my brain cells are working properly (again!) but if Julian placed an autobid which was higher than your autobid, then Julian's would prevail unless you bid again. Or were there several items on which you were all bidding?

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Prom    10
Prom

No his bid was lower. The problem is that both my bid was raised way overboard than what was needed for a winning bid AND his was then raised to R44 despite not winning. That's illogical as if there were 2 items his bid would only need to be R21 to win the second item or to be the runner-up.

 

The funny thing is that if I just put in a bid of R60 like I wanted to or made my autobid R60 instead then that would have been the amount. So there's no logic in raising my bid to R61 as that wasn't needed to win the auction. It looks like when a second autobid is placed that's higher than a previous one then both get raised to the maximum. That's flawed logic as it's not benefiting either bidders and only the seller.

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brands online    10
brands online

I may be wrong, but I've gathered that autobids are raised by the by/to the next increment set by the seller. In this case, R20. Had you entered your bid at R45 with an autobid option of R61, you would have won the auction at R45 as that would be your ceiling amount closer to the seller's next bid increment. Had let's say another buyer entered an amount of R61, then you would still have won the bid as your autobid would then have been increased to R61 as well. In the example, I don't see the logic as flawed. Your autobid of R61 only kicks in when Julian's autobid falls away at R44. It then increases not to the ceiling amount as such, but to the next bid increment value of the seller ie. R61. Had you entered, lets say R65, you should then still have won the auction at R61 and not your ceiling amount of R65.

Edited by brands online
typo

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Prom    10
Prom

That may be how it works but still seems flawed to me. The whole purpose of an autobid is to place a second willing bid just in case a later bidder makes a better offer. As being technically first you then get it at the same amount.

 

Ju1ian's autobid was R44 and the next bid would then be R64 so there isn't any requirement to raise it by the increment amount. If I chose an autobid of more or less then it looks like that would have been the bid amount. It essentially reduces it to a guessing game based on chance and secret bids. What's makes it even stranger is that if my bid was R21 and autobid R61 and somebody came and bid with an autobid of R44 then that would have been my winning bid instead of my autobid of R61.

 

That still does not explain why Ju1ian's bid was raised to R44 despite it not being a winning bid. If there was a second item he would only need to offer R21 to win it until someone else bids a higher amount.

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Prom    10
Prom

That doesn't answer my question on the logic. And yes I did read that "explanation" and it doesn't explain anything about what happened here.

 

Taking from your own knowledge base here:

 

"This amount is the maximum amount that you, the buyer, are willing to pay for an item."

The autobid is thus not a bid as such but a maximum offer in case somebody else bids more up to the maximum amount.

 

"It is kept confidential and will only automatically increase (up to the maximum that you set) if it is required to do so for you to win the auction."

Clearly increasing it to the maximum was NOT required as the next highest bid/autobid amount was R44.00 and only R44.01 was required to win. Bob's own knowledge base contradicts this scenario. This can be seen as a hidden feature in contravention of the CPA.

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qball    11
qball
That doesn't answer my question on the logic. And yes I did read that "explanation" and it doesn't explain anything about what happened here.

 

Taking from your own knowledge base here:

 

"This amount is the maximum amount that you, the buyer, are willing to pay for an item."

The autobid is thus not a bid as such but a maximum offer in case somebody else bids more up to the maximum amount.

 

"It is kept confidential and will only automatically increase (up to the maximum that you set) if it is required to do so for you to win the auction."

Clearly increasing it to the maximum was NOT required as the next highest bid/autobid amount was R44.00 and only R44.01 was required to win. Bob's own knowledge base contradicts this scenario. This can be seen as a hidden feature in contravention of the CPA.

 

I tend to disagree Prom - there is nothing contradictory or in contravention of the Act.

 

An autobid is a bid (it the highest bid amount you are willing to bid), a bid is any amount you are willing to pay for an item. The system sees this as a bid. That is your interpretation of what we say, but as far as we are concerned it is a bid. A bid is an offer, if you are outbid, the autobid is an actual bid.

 

What happened in nut shell - your autobid kicked in, and went up by the bid increment of R20 - but because your autobid was higher than ju1ian, the system pulls his bid up to his maximum autobid amount - R44 (including the bid increment (R20 or more), he was prepared to BID R44 (maximum bid amount, not an offer), and the system takes this as a bid for R44. So from R21, it should have gone up to R41, and then R61, but his next bid amount was R44 (he must enter R41 or more for his next bid and because he had an autobid of R44, it takes this as his next bid amount because that it what he stipulated, not R41. The system would bring it up to R44 if he was outbid, which he was. But your bid went up by the correct increment as did his, the bid increment must be a minimum of R20, this was taken into account. It is a combination of helping you outbid another user without being present to place the bid yourself, but this is seen as a bid, which it is. The price must go up with every bid, including your autobid.

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