
Will a 1901 Honus Wagner baseball card up for auction sell for more than $100,000 at the auction's closing on 5/3/2008?
http://bid.robertedwardauctions.com/bidplace.aspx?itemid=9758
CURRENT BID: $200,000.00
Start: 4/3/2008 12:00:00 PM EST
End: 5/3/2008 4:00:00 PM EST
Background:>
http://bid.robertedwardauctions.com/bidplace.aspx?itemid=9758
Settlement details:As reported on this auction site: http://bid.robertedwardauctions.com/bidplace.aspx?itemid=9758
- Activity: H$56,720 |
- Predictions: 103 |
Comments: 11
Suspend date: Thu 3rd Apr 2008 3:59pm PST
Settlement date: Sat 12th Apr 2008 12:26pm PST
Prediction cut-off: Predictions on this question after Thu 3rd Apr 2008 3:59pm PST have been voided because they were made after the question could be settled
Initial likelihoods: Yes: 20%
Action history:
http://bid.robertedwardauctions.com/bidplace.aspx?itemid=9758
http://bid.robertedwardauctions.com/bidplace.aspx?itemid=9758
If you read the fine print you will find that bids cannot be retracted on this auction site. Also, the question is still open, and users are taking positions on a certainty.
http://bid.robertedwardauctions.com/bidplace.aspx?itemid=9758
CURRENT BID: $200,000.00
Start: 4/3/2008 12:00:00 PM EST
End: 5/3/2008 4:00:00 PM EST
Suspend date: Thu 3rd Apr 2008 3:59pm PST
Settlement date: Sat 12th Apr 2008 12:26pm PST
Prediction cut-off: Predictions on this question after Thu 3rd Apr 2008 3:59pm PST have been voided because they were made after the question could be settled details
Predictions (103)
Comments (11)
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The site does appear to be down at the moment. I'm not sure I agree that markets on _all_ auction sites should settle when the bid rises above the market's goal, that decision should be based on the specific auction site. This particular auction site requires bidders to go through an approval process to insure that bids are honored, so a bid is a firm contract. I'm not sure I'd be comfortable with the same policy applying to Ebay.
I have had an update from the site's administrators, they had a hard drive failure and are working on a restore, the site should be back up tomorrow.
Thanks for that suggestion. I completely agree with you, but some other think that it's 'safe' to settle when the auction's bids rise above the market goal (i.e. $100,000 in the case of the above card). I do think it can be left open and I can push forward any of these ideas in creating some 'auction market rules'. Also do we all think that markets such as this one should be left open until prior to the auction's closure (say 24 hours)? If the markets are left to be fluid, then users are free to buy out at any time. No one is going to make a profit buying in right now. Thoughts?
Thanks!
Diana
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