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Femme X
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Posted - 2006.05.27 23:15:00 -
[1]
Hi, I have been browsing the Sell forums. What do these terms mean?
Sniper Rule??? Reserve Price???
AFAIK, I figured out what a 'buy out price' was.
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Ras Blumin
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Posted - 2006.05.28 06:25:00 -
[2]
There was a sticky once about all this ;s
Sniper rule is used so people don't bid in the last minute and get the item cheaply or similar. Let's say there's a 15 minute sniper rule, and auction ends at 19:00. If someone bids @ 18:55, the auction is extended until 19:10 (18:55+15m) to let other people bid. If someone then bids before 19:05, the auction is again extended for 15 minutes from the time of that bid.
Reserve is the amount of isk you need to pay to be sure to get the item. The auctioneer "reserves his right" to not sell for less than that.
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343Guiltyspark
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Posted - 2006.05.28 07:07:00 -
[3]
I've never understood the concept of the sniper rule. What's the point in having a closing time if you're not going to honor it?
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Santiago Cortes
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Posted - 2006.05.28 08:01:00 -
[4]
For one the sniper rule means that whoever's computer is closest set to GMT/person who is best at timing when to post doesn't automatically win every auction.
If there wasn't a sniper rule in place you could well see the same people winning auction after auction purely based on the timing issue.
Hence it allows 'true' auction action to take place in what is something of a contrived environment.
I doubt it stops people getting stuff on the cheap as there's normally plenty of bids on items that end up having the sniper rule invoked but it does give a competitive feel to auctions.
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Femme X
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Posted - 2006.05.29 13:42:00 -
[5]
Edited by: Femme X on 29/05/2006 13:45:04 So the sniper rule works like the "Going once, going twice..." concept.
But I still don't understand the Reserve rule. If the seller reserves the right not to sell something for under X, then why doesn't the seller put the starting bid higher? Or just place a higher bid himself to get the item back?
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Deja Thoris
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Posted - 2006.05.29 19:34:00 -
[6]
Originally by: Femme X Edited by: Femme X on 29/05/2006 13:45:04 So the sniper rule works like the "Going once, going twice..." concept.
But I still don't understand the Reserve rule. If the seller reserves the right not to sell something for under X, then why doesn't the seller put the starting bid higher? Or just place a higher bid himself to get the item back?
Reserves are slighty borked in the sell orders forum. Just ignore all the EvEspeak and look at their intentions.
Someone who says "No reserve" and has "minimum bid 100mill" .... go figure.
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Leandro Salazar
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Posted - 2006.06.02 12:44:00 -
[7]
I read a different definition of sniper rule somewhere on the net. That one stated sniper rule as within x minutes of auction end, only people that had already bid on the item previously are allowed to place bids, with no extension of the end time.
I find that one somewhat better than the extension thingy, as it forces the would-be snipers to increase the bidding themselves at least once, warns everyone bidding that there are other interested parties ahead of time, and still allows for a timely auction end.
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Originally by: General Apocalypse the game is very well balanced
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Eskona Runningstar
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Posted - 2006.06.02 13:03:00 -
[8]
Originally by: Femme X Hi, I have been browsing the Sell forums. What do these terms mean?
Sniper Rule??? Reserve Price???
AFAIK, I figured out what a 'buy out price' was.
Sniper rule is defined differently depending on who you ask.
The most common definitions: a) If somebody bids within X amount of time before auction end, the auction end is moved to Y amount of time after that bid. Usually, X and Y are the same.
The intention is to prevent eBay-like "bid flooding" in the last seconds of an auction, with the winner being the one with the best timing. Side effect is that the item goes for what one wants to pay for it, not for as much as is bid just before auction end - more money for the seller.
b) X amount of time before auction end is a "closed-bidding" period. If you havent bid in the auction so far, you are not allowed to start bidding anymore.
The intention is to make all bidders known to each other, so they can judge each other and give them a chance at estimating how much money they need to outbid the others (in preparation for the "bid flooding").
Then there is the hybrid sniper rule which extends the auction end time, but only people who already made bids are allowed to make bids inside the sniping time.
Reserve price is the price you need to pay to get the item. If the reserve price is not met, the seller has the option of not selling at all. Generally, auctions are started below market value to get bidders interested. The intention of the reserve is to allow the seller to pull the auction if he feels not enough people are participating in the auction. Starting below market value with a reserve at the market value usually leads to more participation than just starting with the market value as minimum bid. If the seller is in a financially tight situation, you have a chance of getting an item below the reserve, though.
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