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The auction ended without a sale. [21] In January 2004, a seaworthy 16,000-ton Brazilian aircraft carrier Minas Gerais, formerly the British HMS Vengeance, was listed. The auction was removed when eBay determined that the vessel qualified as ordnance, even though all weapons systems had been removed. [22]
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.
eBay office in Toronto, Canada. eBay Inc. (/ ˈ iː b eɪ / EE-bay, often stylized as ebay or Ebay) is an American multinational e-commerce company based in San Jose, California, that allows users to buy or view items via retail sales through online marketplaces and websites in 190 markets worldwide.
However, online auction sites, unlike live auctions, usually have an automatic bidding system which allows a bidder to enter their maximum acceptable bid. This is a hidden or proxy bid, known to the system, but not any other bidders; during the auction the actual bid is incremented only enough to beat the existing highest bid. For example, if ...
1. Gigayacht. Sold for: $168 million Roman Abramovich, a Russian billionaire, must have been staring at an empty dock for a while now, because the 168 milly he shelled out for a 400-foot yacht is ...
The Yusheng S330 compact crossover SUV is a joint-venture between JMC and Ford. Its research & development, design, and manufacturing comply with Ford's global standards. [ 2 ] The S330 made its debut at the 2016 Beijing Auto Show and was launched on the Chinese car market in the second half of the 2016. [ 3 ]
Data from International Directory of Civil Aircraft and Technical specifications General characteristics Crew: 1–2 Capacity: 1–3 passengers Length: 31 ft 2 in (9.50 m) overall Height: 11 ft 0 in (3.35 m) Empty weight: 1,210 lb (549 kg) Gross weight: 2,460 lb (1,116 kg) Max takeoff weight: 2,550 lb (1,157 kg) Powerplant: 1 × Rolls-Royce M250-C20W turboshaft engine, 235 shp (175 kW) Main ...
The terms Vickrey auction and second-price sealed-bid auction are, in this case only, equivalent and used interchangeably. In the case of multiple identical goods, the bidders submit inverse demand curves and pay the opportunity cost. [4] Vickrey auctions are much studied in economic literature but uncommon in practice.
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