Bid.com International (BIDS) Message Board

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Microcap & Penny Stocks : Bid.com International (BIDS)

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To: Alastair McIntosh who wrote (25715)	4/25/1999 10:07:00 PM
From: Victor	Read Replies (1) of 37507

Alastair: Just re-read the paragraph you indicated. There is a bit more to it. My understanding of it is that it is not like BIDS declining auction. What I understand this markdown feature to mean is that, say for example an item was being auctioned off for $50 with the auction to close in 2 days. After the end of the two days, if there is no buyer, then the auctioneer has a right to markdown the opening price by a specified amount or specified percentage, and put that item up for bid again for another 2 days (for example). BIDS' declining auction is not spread over days but over a matter of seconds. My interpretation only, supported by the fact that the U.S. Patent Office would not issue two patents doing the same thing. Victor.

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