How to Buy Property at Auction: The Essential Guide to Winning Property and Buy-To-Let Bargains
by Samantha Collett · 20 Mar 2014 · 218pp · 60,935 words
a clear ‘eyeball’ position Attracting the auctioneer’s attention and bidding styles When to bid? How much to bid? Alternative methods to bid Telephone bidding Proxy bidding By someone else Online Do a dummy auction run Test experience: practise buying a property at auction Practise research – but do it in real life
…
the conditions of sale and it is a point which will be mentioned in the opening speech. These various parties may include any telephone or proxy bids received, and it does also include the person selling the lot. This right to bid on behalf of the vendor is included in the Sale
…
about organising telephone bids and wherever possible I always try to attend, or request somebody else attend on my behalf. (Source: Network Auctions, 2013) Proxy bidding A proxy bid is where you instruct the auctioneer to bid on your behalf at the auction. This requires similar administration as a telephone bid (ID documents, 10
…
per cent deposit and buyer’s premium) and will involve completing a proxy bid form. This works in a similar way to the telephone bid and will require you to plan your maximum bid in advance. The key difference
…
with a proxy bid is that no further communication with you is required – the auction house will bid on your behalf in the room. This has the same disadvantages
…
bid is the instruction is there for the auctioneer to bid on your behalf. In my personal case study above, if I had used a proxy bid rather than a telephone bid, I believe I would have bought the property rather than missing it because communication could not be established. By someone
…
flexibility and control. TIP It is always best to bid at the auction room, so, where possible, try to attend the sale day. AUCTIONEER INSIGHT Proxy bids and telephone bids are alternative ways to bid if you are unable to attend on the day. These bids are designed to work on the
…
best to bid from the auction room, so where possible try to attend the sale day. • If you can’t make it to the room, proxy bids and telephone bids are designed to work on the same basis as if you were in the room and should not disadvantage buyers. • If you
…
behalf 171 deciding not to bid 138, 148, 220 documentation required 145–6 joint purchase 145, 220 online 171–2 pre-bid registration 145–6 proxy bidding 51, 146, 155, 170–1, 172, 220 telephone bidding 51, 149, 155, 168–70, 172, 220 bidding wars 52, 151 ‘blind’, buying 12, 40, 64
…
40 property investment companies 34 property investors 40 property owning culture 6 property title 65–6, 93–4 unregistered or complicated 97 property traders 40 proxy bidding 51, 146, 155, 170–1, 220 publications 45 reasons for buying property at auction 12–28 reasons for selling property at auction 75–7, 79
Reinventing the Bazaar: A Natural History of Markets
by John McMillan · 1 Jan 2002 · 350pp · 103,988 words
auction might close with some bidders left wanting to bid higher but unable to. How can sniping be prevented? eBay’s solution is to accept proxy bids. Bidders may confidentially tell eBay’s automated bidding agent the maximum they are prepared to bid. If the current bid level is smaller than a
…
proxy bid, eBay’s computer automatically submits a bid on behalf of the proxy bidder, a small increment above the current high bid. The agent stays in
…
the bidding up to the level of the proxy bid. Thus the proxy bidder could win, depending on the competition, at any price up to the level of the proxy bid. The price the proxy bidder pays is the second-highest bid plus a bid increment
…
. eBay’s proxy bidding does not always succeed in eliminating sniping, however. Savvy bidders still often hold their bids to
The Inner Lives of Markets: How People Shape Them—And They Shape Us
by Tim Sullivan · 6 Jun 2016 · 252pp · 73,131 words
check back or alter your bid. This is, in fact, the way it works for eBay auction listings today. Much as stamp collectors mailed in proxy bids to dealer William P. Brown’s New York auction house, you go to the web page for an item you’d like to bid on
…
fizzled. Amazon’s auction site never took off, while Yahoo shuttered its auction business by 2007. It’s true that you can still register a proxy bid for any one of the millions of auctions listed on eBay today, but while the company is still known to many as an online auctioneer
…
the half hour or so we spent on the site. (There is always a lot of action in the last few minutes of an auction. Proxy bids were meant to spare shoppers the trouble of tuning in through the flurry of activity that takes place as an auction closes, but it hasn
…
customers value the convenience of dealing with fixed price rather than auction sales, even when the latter are offered with the convenience of Vickrey-style proxy bids.12 No matter how much you simplify a Vickrey auction, it still carries an inherent anxiety and nuisance of entering bids on items. It turns
Who Gets What — and Why: The New Economics of Matchmaking and Market Design
by Alvin E. Roth · 1 Jun 2015 · 282pp · 80,907 words
of information, too, and that can interfere with the operation of the market. For example, in an eBay auction, you’re invited to submit a proxy bid of the maximum amount you’re willing to pay. eBay promises to use that number to bid on your behalf, but only as high as
…
–68 on marriage, 70–74 in school selection, 73–74 self-control and, 67–68, 74–78 eBay, 104–5 feedback system of, 117–19 proxy bidding in, 119–21 safety of, 116 economics definition of, 4 game theory in, 10–11, 32–41 on matching, 4–5 economist job market, 173
Distrust That Particular Flavor
by William Gibson · 3 Jan 2012 · 153pp · 45,871 words
if, it occurred to me, someone noticed my Croton in the auction’s last few minutes and decided to grab it? eBay’s system of proxy bidding encourages buyers to offer the most they’re willing to pay for an item—their “maximum” bid. My maximum bid was a hundred and forty
…
trip to Otto, but still not the watch . . . eBay is a cross between a swap meet in cyberspace and a country auction with computer-driven proxy bidding. The auctioneer is one of eBay’s servers. Buyers don’t pay anything to eBay; they just pay sellers for the items they buy. Sellers