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Technology Stocks : eBay - Superb Internet Business Model

EBAY 85.36

+1.1%

Dec 12 3:59 PM EST

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To: Les H who wrote (4163)	7/20/1999 1:29:00 PM
From: T. Pascal	Read Replies (2) of 7772

Ebay cheats (spoiler) The easiest way I can think to cheat bidders with something like ebay is as follows: 1) List an item for sale. Say you have a used widget that is worth about $50 new. You list the used widget for $15. Some people bid it up to $20. Some idiot sets their proxy maximum bid to $25. Do you let the item expire and take your $20? No! 2) You use another account you have setup (or, use a friend) and bid it up to their maximum. 3) The person who gets outbid (if they really want it) bids up one more dollar to (say) 26 or 27. Bango! You made $7 in an unfair cheat! Serves those idiots who use ebay right.

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