The cost of second hand Elan parts ...

[Certified Lotus]

I've been using eBay and PayPal since inception. The early years were absolutely wonderful as you could buy expensive (meaning high end) obscure parts and equipment for pennies on the dollar. Then the market place woke up and sellers figured out how to control pricing by using fake accounts or having friends bid up items. It became rather complicated to try and recognize if you were bidding against the market or yourself. So now I use a simple concept; how much is it worth to me and not pay a penny more. I don't get caught up in the frenzy of outbidding someone else.

The interesting thing about the global market place is that rare parts seem to reappear more frequently these days, all you have to do is wait and be focused on the search.

All that being said, I find that the relationships developed on sites like this are immensely valuable as parts become available upon the ask. That is the best type of transaction you could ever want, a true enthusiatist who is interested in helping you complete your project at a fair price. I am very grateful to a number of the members on LotusElan.net for their generous offerings and help. Thank you!

[billwill]

The success of eBay really is a tribute to the power of having first mover advantage. Its time-limited auctions make sniping the only rational bidding strategy and leads to lower prices for sellers. But they use it because eBay has the largest customer base.

Even worse, time-limited auctions and sniping mean that the market value of an item is never properly established, leaving sellers and buyers in a state of ignorance. Hence sellers setting apparently dopey prices for their items in the hope of not getting taken to the cleaners. Buyers may as well hang on to a rabbit's foot and hope for the best.

As for commissions, earlier this week I was tempted to bid at an online antique auction until I noticed that the Buyer's Premium was 30%. I think that even Sotheby's stops at 25%. Needless to say, I couldn't bring myself to bid anything.

Nick

Yes I do wish that eBay would implement a more sensible method of deciding when the bidding is done. The time limit system is terrible.

What is s annoying is that we had a better system on CiX (Compulink Information Exchange) long before eBay existed. It was basically if no more bids are recieved for a time interval (set by the seller) then the last bidder was the winner.

Thus it was/is much more like a real auction and sniping was impossible.

~~~~~~


CiX was the main UK technical Bulleting Board system before the Internet. It still exists and users can use the old method of access (though now via the Internet) or it can be used as a forum lik this one.

https://forums.cixonline.com/

[c42]

On a couple of plant and machinery auction sites I use the bidding is extended by 10 minutes after each last bid, this stops sniping but the buyers premium is still usually 15%.

John

[reb53]

On our local site here in New Zealand it is all much more civilised. On "TradeMe" bidding doesn't stop until there have been no new bids for 2 minutes. No sniping necessary.
Oh, and there's no buyers premium.

I do laugh when the Ebayers come in at the last few seconds with a bid, then, presumably, wonder what the hell is going on when the auction just continues until a fair price is established.

[billwill]

On our local site here in New Zealand it is all much more civilised. On "TradeMe" bidding doesn't stop until there have been no new bids for 2 minutes. No sniping necessary.
Oh, and there's no buyers premium.

I do laugh when the Ebayers come in at the last few seconds with a bid, then, presumably, wonder what the hell is going on when the auction just continues until a fair price is established.

2 minutes... Wow, on Cix it was usually 2 DAYS (with an option to omit weekends).

But I expects yours was 2 mins gap AFTER an eBay-like time limit.

[reb53]

Yes, auctions finish at a stated time but only if there have been no bids within 2 minutes of that time.
i.e. if finish time is 8am and a bid is placed at 7.59 then the new finish time is 8.01.
When there have been no new bids for at least 2 minutes then the auction finishes but only after the time stated, which for most auctions is a week but you can choose a time.

Doing it the EBay way of putting in the highest bid you're happy with prior to the finish time, and hoping you win isn't an auction, it's a "tender".
Not a proper auction at all, EBay should be known as a "tender" site. Certainly not an auction site.

[stevebroad]

Doing it the EBay way of putting in the highest bid you're happy with prior to the finish time, and hoping you win isn't an auction, it's a "tender".
Not a proper auction at all, EBay should be known as a "tender" site. Certainly not an auction site.

But this is how all auctions work. Anyone can put in a maximum bid to the auction house prior to the auction and the auctioneer will bid on your behalf up to your maximum, same as eBay.

[reb53]

But this is how all auctions work. Anyone can put in a maximum bid to the auction house prior to the auction and the auctioneer will bid on your behalf up to your maximum, same as eBay.

Indeed, but unless you're dealing with a reputable auctioneer it's a brave man who'll tell him what you're willing to pay.
I found this out the hard, and expensive way a long time ago when I left bids and won lots of things just under my maximum.
What a "coincidence".
Yeah right........ I was bidding against the wall. Ebay can't do this so I have no problem there but I much prefer standing at the back of an auction room, seeing who is bidding, knowing if they're dealers or collectors,and how far they're likely to go.
Often a few bids beyond what I thought was my limit has done the trick as I've had the benefit of the additional information gathered by being there.

Also, I've yet to be at an auction where, as the bids are coming in, the auctioneer bangs his gavel down and says the auction is over because, "it's 8 o'clock"....

[Lc99g]

What does "sniping" mean ?

[The Veg]

What does "sniping" mean ?

Waiting until the last possible moment to out-bid.

[Lc99g]

Ok, thanks.