Australian Members

Discussion in 'Classic Menswear' started by earthdragon, Nov 18, 2008.

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  1. lachyzee

    lachyzee Senior member

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    Yes DR I'm sorry but I think you just need to think about how this all operates in real life for a while...

    Anyway back on topic:

    is your shoulder measurement for a shirt generally the same as your shoulder measurement for a jacket? Or is the jacket a slightyly smaller or larger measurement? Or should I be tryng to keep these the same?

    Secondly, do jackets with higher armholes generally suit those with square shoulders, while sloped shoulders suit lower armholed jackets?
     


  2. JimmyHoffa

    JimmyHoffa Senior member

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    Hahaha, FXH showing his youth. Nothing beats ABC on a Saturday night.

    I thought my parents were the only ones that watched George G and Midsomer Murders. I guess I was wrong.
     


  3. Selvaggio

    Selvaggio Senior member

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    Dart, imagine there are two bidders. Each bidder has their preferred bidding style - forget for a moment whether each style is rational.

    Bidder A will only ever make one bid. It will be his only bid, and in this scenario it will be $100.

    Bidder B will start at the lowest price (say $10) and bid in $10 increments until she is the highest bidder. The process of making a bid, checking to see if she is the highest and entering a higher amount takes one minute. Her maximum price is $99.

    In this scenario, Bidder A will win the auction regardless of when he enters his bid. He is always going to win becasue his highest bid is greater than Bidder B's highest bid.

    If, however, bidder A makes his bid with seven days to go, he will pay $100. If he makes it with 30 seconds to go, he will pay $11. THIS is the point. you would rather pay $11 or $100 already?

    Now you might say that bidder B is not bidding rationally, you would be right. You might also say that bidder B is an idiot. You might be right. Bidder B may be new to ebay, or drunk...or possibly just gifted in other domains. But I can assure you there are many bidder B's out there.

    So, knowing this, and knowing that you may be up against a bidder A or Bidder B type, wouldn't it make sense to put you bid in as late as possible? May not affect whether you are the highest bidder, but it may deliver you a bargain every now and then.
     


  4. JimmyHoffa

    JimmyHoffa Senior member

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    If bidder B bids $10 and then bidder A enters their maximum bid of $100 and then the auction closes, who wins the auction and how much do they pay?
     


  5. DartagnanRed

    DartagnanRed Senior member

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    You assume bidder B's actions are entirely dependent on A's. If bidder B looks at the auction and sees it still at $10, surely she will bid? She will only pay less than $99 if she runs out of time. As more and more people use sniping, this won't happen anymore.
     


  6. DartagnanRed

    DartagnanRed Senior member

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    eBay uses increments, see http://pages.ebay.com.au/help/buy/bid-increments.html

    In this example, bidder A who bid $100 will pay $10.50 (being $0.5 more than B).
     
    Last edited: Nov 11, 2012


  7. JimmyHoffa

    JimmyHoffa Senior member

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    If other people can see the maximum bid you have entered, then when you enter your maximum bid will matter. Otherwise, timing is irrelevant.

    Except, a lot of consumers don't have the mentality of 'what is the maximum amount I am prepared to pay'. Most people just think, 'I want this and I want to buy it for the cheapest price possible, which is 50c above the next bidder'. If you think like the second person, then the 'maximum bid' system is superflous to you - because it doesn't help when the price gets close to your maximum bid.
     


  8. Henry Carter

    Henry Carter Senior member Affiliate Vendor

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    The latter is all you need to worry about friendo. Kristen Bell is one beautiful, beautiful woman.
     


  9. fxh

    fxh Senior member

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    Bidder A Bidder B bidder bam.

    I'm now missing blahman
     


  10. DartagnanRed

    DartagnanRed Senior member

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    Mike, have you used eBay much? They can't see your maximum bid.
     


  11. fxh

    fxh Senior member

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    cough
     


  12. lachyzee

    lachyzee Senior member

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    To add another scenario to the above, you (A) spy a jacket that you like with a current bid (B) of $40. This is not B's max bid. B's max is $80. But the starting price was $30 and B only bid a small amount over the starting price.

    Possibility #1 (the DR method) - You bid $100 (your max), 48 hours before the auction ends. B gets an email notification saying that he has been outbid. B realises that there are others interested in the item.

    B may:

    - Bid up to $80 (B's max) and decides that he has had enough, you win for $80
    - Decide that, since there are other people interested, to be at the computer for the moment the auction ends, and bids up to $80. You win for $80. B may even get caught up in the moment and bid up to $110. You lose.
    - Do nothing and you win for $40.50 (quite unlikely)

    In possibility #1, B has several days to decide what to do. He has several days to decide exactly what his max bid is and to place new bids up to that point, each of which hurts you (A).

    Possibility #2 (everyone else's method) - You do not bid at all. You only bid $100 (your max) 30s before the auction ends. With 30s to go, the max bid is now $40.50

    B may:

    - Forget about/ignore the auction since he does not get an alert that he has been outbid until just before the auction ends. You win for $40.50.
    - Actually be at his computer just before the auction ends and see the alert, in which case he has 30s to frantically decide on his max and bid up to it. Going on the behaviour of most ebayers, he would go in $10 increments meaning that he would run out of time and never get close to $100, or even $80. You win for $60, for example.

    This is how a lot of eBay auctions go. Most eBayers don't use sniping programs.

    DR, with your method (#1) you increase the average price that you will pay for items over time.

    There is no advantage to using your method DR, but what there is is a significant possibility of disadvantage (in that, on average, you will end up paying more for your eBayed items over time).

    As I have said, in a world where everyone eventually places their max bid, your method is fine. But that is not how it happens in the real world for the reasons that Michael Sy has set out above. People put in a bid that is a small amount over the current one or the reserve, and often leave it at that.
     
    Last edited: Nov 11, 2012


  13. DartagnanRed

    DartagnanRed Senior member

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    Ok Ok, I'm done I promise. I wouldn't have been so insistent normally, it's just I'm on study leave and looking for any reason to procrastinate.
     


  14. Selvaggio

    Selvaggio Senior member

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    Running out of time is the point. It is true that if everyone used sniping this would be irelevant. But we're not there yet.

    Someone explained the Scottish real estate system to me once. A buyer indicates a price they will accept and then invites offers by a certain time and date. The piotential purchasers have no idea what the other purchasers have, or intend to, bid. When the time period closes, the highest bid wins. This is like the situation you describe - in which all parties use sniping. But ebay differs in that it progressively updates buyers as to the highest bid so far.
     


  15. TehBunny

    TehBunny Senior member

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    Sorry I just re-read it and realised how retarded it sounded; won't translate cuz it's meaningless :p
    P.S.
    Midsomer Murders for the win :p Prefer John Nettles as Barnaby IMHO :)
     


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