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Auctions

By: anarchyintheuk -- Aug 14, 2007 07:08:00 Category: Blogging

Weblo have instigated a change to the way auctions work, which will possibly alleviate some of the issue of non payers on auctions. It is now only possible to bid, if a bidder has sufficient funds in their account. Whether this will affect the style of auctions is yet to be seen, but it is likely people will only wich to tie up funds for a limited period of time, so we may see auctions only receiving bids on the last day. How this will affect high priced auctions where there are bidders vying for multi-thousand assets will be interesting to see. It is possible people will be reluctant to place funds on account for an auction they may not win, and therefore not bid at all. Whether the funds associated with an auction are locked until being outbid, or the auction completes, is unclear. If there is no locking inplace, then fake bids can continue as they have in the past. This is definatley a step in the right direction, as a major frustration for auction sellers has been the 7 day delay in being able to re-auction an asset if a bidder didn't pay for their purchase.

Comments

Comments 1 - 2 of 2 [Total 1 Pages]

By Haroli Aug 18, 2007 01:08:16

Perhaps make it that a person's total auctions cannot exceed their total income. In other words, if I have 10 auctions totalling $1,000, I must have $1,000. I will not be able to post additional auctions until I deposit more money. Yes, we should be able to block/ignore folks, which would disable their ability to bid on auctions, post on blogs, or rate profiles and properties of the person who blocked them.

By djcityscapes Aug 15, 2007 11:08:40

I agree this is a step in the right direction. I wish they would also implement some kind of block list that would allow sellers to block users that caused problems in the past. In fact, I think it would be awesome to be able to block certain users from rating my assets. Yeah, that's the ticket.

Comments 1 - 2 of 2 [Total 1 Pages]

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