[Lee]

My own view is that ebay got so much so right when it started that it was rewarded with dominance of the online auctions market. It is therefore surprising that they have chosen to demolish some of the most important parts of the foundation they have built upon. But markets have a way of responding, so we may expect in due course to see ebay forfeit its dominance if they do not return from their current downhill path.

Now and then, amid all the junk and fakes, something great does show up on ebay. If I bid, I commit myself to making a single preemptive bid and I make that bid as close as I dare to the cut-off. There will be no second chance if I miss. This strategy gives you your best chance to win the item and to win it at the best possible price.

I suppose one upside to ebay's change is that as we can no longer know if we are bidding against a forum friend, we shall feel less guilt in denying them a bargain. I suppose that is an upside.

While on the subject of auctions, let me share a pet peeve: the buyer's premium. Scum and villainy! It seems pretty clear to me that auctioneers are acting as the seller's agent. Yes, everything does come out of what the buyer pays, but the auctioneers see a psychological advantage is quoting a low seller's premium and then jacking up a buyer's premium. It has even been reported that for big ticket items, major auction houses, to get the consignment, have waived all seller fees and that they have even gone further to 'kick back' some of the buyer's premium. The emergence of buyer's premiums in online autions as a 'tip' to the seller is, in my opinion, reprehensible and thus far I have refrained from participating in such auctions.