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Proxy bidding is an implementation of an English second-price auction used on eBay, in which the winning bidder pays the price of the second-highest bid plus a defined increment. It differs from a Vickrey auction in that bids are not sealed ; the "current highest bid" (defined as second-highest bid plus bid increment) is always displayed.
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On May 25, 2010, the Indiana Auctioneer Commission revoked the auctioneer's license of Dean Kruse amid charges that the company failed to pay clients who had sold items through the company. [1] On July 1, 2010, Kruse sold its auction park, home to the annual Auburn auto auction, to RM Auctions of Canada.
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As the graph shows, requests put in during the morning see a 5-hour median response time; wait until the end of the afternoon, and you're looking at a response time closer to 17 hours.
"How To Win at QuiBids Auctions—Which Might Just Mean Stay Away". Business Insider. Freeland, Bridget (2 December 2010). "QuiBids Online Auction Faces Class Action". Courthouse News Service. "Dissatisfied customer sues Oklahoma City-based penny auction website". The Oklahoman. "Auction site faces class suit". The Chronicle Herald.
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