Quote:
Originally Posted by borked
So, when the timer is 0, the auction is over. If there is a bid in the last 15 secs, it resets the timer to 15 secs.
You win when the timer hits zero and there are no further bids.
Guys and Gals - don't get sucked in to this.... it is gambling, no more no less. Maybe there is some weightedness to the bidding, and if so, go for it, cos I got something on my first bash, but am very reluctant to get sucked in after. Beginners luck.
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The only weighting is in the "bid agent", which will automatically bid for people at the last possible moment. So, auctions can go on and on.
Things like your frame are the loss leaders, the relatively unwanted and small items that create the impression that people can easily win. Most of the big items stay for ages.
Based on the rate at which bids are coming in, have about $100k-$200k per day of gross revenue, and looking at the sold auctions, they're giving out maybe $25k a day in goods.
Quite a nice concept, really.