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Auction sniping (also called bid sniping) is the practice, in a timed online auction, of placing a bid likely to exceed the current highest bid (which may be hidden) as late as possible—usually seconds before the end of the auction—giving other bidders no time to outbid the sniper.
On eBay, the bidding price started at $233.95, with bidding ended at a sale price of US$10,000. [63] Both the e-mail exchange and the picture have become internet hits. [64] In July 2009, Dornoch Capital Advisors placed England's Coca-Cola League One Side Tranmere Rovers F.C. on eBay without permission from owner and chairman Peter Johnson ...
The court held that Mr Cave was entitled to withdraw his offer at any time before the auctioneer accepted it. The auctioneer's request for bids was an invitation to treat, and each bid constituted an offer which could be withdrawn at any time until it's accepted, and finally, the fall of the auctioneer's hammer constituted acceptance of the highest bid.
TMZ reports that the guitar is now being listed on eBay for a starting bid of $100 (£75), with sale proceeds going towards the same cause of supporting agricultural education for local youth ...
The blind bidding service may be thought of as a type of auction mechanism where some or all information about the players' bids is hidden. A resolution is declared by the system at the end of a negotiating session if all parties have accepted one or more packages (of one or more proposed decision values) at the end of that session.
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