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Another cool auction format used is this: The last person putting $10 in the pot wins the auction. Putting $10 in the pot will postpone the end of the auction
by LinaLauneBaer 13y ago
Another cool auction format used is this:
The last person putting $10 in the pot wins the auction. Putting $10 in the pot will postpone the end of the auction for let's say 30 minutes.
This format has been used at some of the charity auctions I visited. It was very funny... Now that I am thinking about it: Maybe it only works in real live because the moderator of the evening was very funny and motivating.
- mcintyre1994 13y agoHeh, I've seen this format on one of those "You can buy an iPad for £5" not-so-charity sites my dad tried. Very very clever business model, we often saw things going for much more than you could buy them elsewhere because people were already invested. You had to be the highest bidder for some fixed amount of time instead of the Ebay model of last second sniping, genius psychological trick.