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Two automated bidders

 
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aga0003
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PostPosted: Thu Mar 29, 2018 4:07 am    Post subject: Two automated bidders Reply with quote

Hello, I'm new to Gixen but had a general question about the automated bidding.

What will happen in the case that there are two/ several other automated bidders? How can you ensure that your increment bid is the last bid (upper bid limit is not a problem). What would be the best time and setting to place the bid?

Thanks in advance for any advice/ explanation!
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PostPosted: Thu Mar 29, 2018 4:07 am    Post subject: Two automated bidders

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Cupid



Joined: 09 Aug 2007
Posts: 5481
Location: Bristol, UK

PostPosted: Thu Mar 29, 2018 9:12 am    Post subject: Reply with quote

It's not a simple answer and you will find it has been debated here many many times.

The highest accepted bid always wins on Ebay. So the amount matters far more than the timing. If there are two late bids it is still generally the higher bid that wins, no matter when either are placed.

Being last is not always the best winning strategy, especially when you know there are likely to be other snipers scheduling late bids.

The offsets are options precisely because there is no universal agreement about what is best, if there were it would be fixed at the agreed best value.

Personally, I prefer slightly larger offsets in order to gain the advantage of the bid increment rule and effectively block some bidders that are only prepared to pay a small amount (less than one bid increment) more than me, occasionally.
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PostPosted: Thu Mar 29, 2018 3:51 pm    Post subject: Reply with quote

Thank you for the quick reply !

What I’m not entirely sure about is the delay time in Gixen to respond to another higher increment bid.

For example,

My limit is say $100.
The system places a bid of $70 in the last 6 seconds putting me in the lead.
Another automated system places a bid within 2 seconds, so say it goes to $75.
Its limit is $90.

My limit is higher, however, does Gixen operate by responding instantly to the other bidder or is there a slight delay time for it to sync?
And if theres a small delay, does that still give the other automated system a chance to beat my bid again?

So I outbid at $80 in 1-2 seconds and the opposing system places a bet of $85 in 0-1 seconds.


Hope that makes sense, and hope you can clear that up and maybe recommend the increment time for me.

Cheers!
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juangrande



Joined: 09 Aug 2007
Posts: 847
Location: San Diego, California, USA

PostPosted: Thu Mar 29, 2018 8:08 pm    Post subject: Reply with quote

Gixen does not respond to other bids. Gixen simply places your bid during the last few seconds of the auction.

It is a common misconception to view eBay auctions as if they were live auctions. That is not how eBay auctions work. What you call your "limit" of $100 is actually your bid. The "current price" of an auction is the 2nd highest bid plus a small bid increment, and becomes the "winning price" if no one else bids.

So, if someone bids, as you suggest, $70, and you come along and bid $100, the "current price" becomes $71 ($70 plus the $1 bid increment). Then, when someone else comes along and bids that $90 you suggested, the "current price" becomes $91. You would remain the high bidder the whole time.

The only way somebody could outbid you is by bidding *higher* than you. So, if someone came along when the "current price" was $91 and bid $100.01, then they would win for $100.01 (unless an even higher bid was entered).

EBay auctions are a modified form of Vickrey auctions, a type of sealed-bid auction in which the highest bidder wins the auction at price determined by the amount of the 2nd highest bid. It is not the last bid that wins. It is the highest bid that wins. Every time. (The only exception is when bids are within a bid increment of each other, in which case the earlier bid wins. That is what Mark is alluding to.)

The point of sniping is that it does not allow other bidders time to respond to your (snipe) bid by entering another bid. If their bid wasn't already higher than your (snipe) bid, you would win. But if your (snipe) bid is lower than their bid, than they would still win, even though your (snipe) bid was placed later.

If you're bored, check out this archived thread that discusses this in more detail.
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If you don't know where you are going, you will wind up somewhere else.
--- Yogi Berra


Last edited by juangrande on Fri Mar 30, 2018 9:36 am; edited 2 times in total
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aga0003
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PostPosted: Thu Mar 29, 2018 9:50 pm    Post subject: Reply with quote

Thankyou for taking the time to respond so thoroughly, really appreciate your help and clear explanation!
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