Bid deadline included in Advertisement format

[Froggy]

I’ll keep it short and sweet, if you advertise your vehicle/property and include a bidding option of any kind, example:

 

starting bid - $XX 

 

buyout - $XXX

 

 

You should be forced to add a deadline to the bidding, as currently you could keep the auction up until you get the price you want, what’s the point in a starting bid if you don’t accept it?

 

This being said, use a starting bid as more of a reserve price, would be more efficient. You will accept it at this price if it becomes time to end and no one bids the buyout or higher.

[orca112]

As someone that is a great fan of auction sniping, yes. If one is not willing to sell under price X, then they should adjust their starting bid and buyout properly.

[Mahitto]

Auctions aren't actual auctions at the moment; they're just ways for people have a safety net (or multiple) while keeping them open until they get their price. I don't think I've ever seen someone actually sell something for their starting bid.

+1;

[Ink]

I'm supportive, but I believe it should apply to buyers as well, and there should be some IC clarification about the medium the auction is taking place through.

 

If we force auctions to have a mandatory ending time, we also must make bids binding. We cannot have one without the other.

 

You cannot retract a bid once you've made it. A bid should be a legally binding agreement to purchase at that price if accepted or the auction runs out of time. Bidding with insufficient funds should be punishable either ICly or OOCly. 

 

Currently there are a lot of ways to abuse the auction system both ICly and OOCly from both sides of the equation. Needless to say, it's also ridiculously easy to have your friends bid on your auctions to both bump the posts and to drive other people to bid higher.

[Froggy]

1 minute ago, Ink said:

I'm supportive, but I believe it should apply to buyers as well, and there should be some IC clarification about the medium the auction is taking place through.

 

If we force auctions to have a mandatory ending time, we also must make bids binding. We cannot have one without the other.

 

You cannot retract a bid once you've made it. A bid should be a legally binding agreement to purchase at that price if accepted or the auction runs out of time. Bidding with insufficient funds should be punishable either ICly or OOCly. 

 

Currently there are a lot of ways to abuse the auction system both ICly and OOCly from both sides of the equation. Needless to say, it's also ridiculously easy to have your friends bid on your auctions to both bump the posts and to drive other people to bid higher.

I agree completely, but what would be the punishment for not fulfilling your bid/auction?

[Ink]

12 minutes ago, Froggy said:

I agree completely, but what would be the punishment for not fulfilling your bid/auction?

 

Depends on what the canonical IC medium we're using for the auctions. IRL, depending on the type of auction, there would be bidder vetting before they're allowed to participate. For real world real estate auctions, you simply could not bid an amount higher than you could afford--the people running the auction have already seen your financials for you to participate. Now, of course, it'd be possible to fudge these numbers a bit--but what would be the point? In real life, if you default on a bid in an auction, both the auction house and the seller has the right to file a lawsuit on you. One such example I can think of is Sotheby's had a bidder default on buying an item, so they sold the item to someone else for less money, and then sued the original bidder for $2M+, the difference between his winning bid and the price they actually sold it for + legal fees.

 

Right now, it looks to me like the auctions on this board are actually OOC, but we sort of pretend they're "somewhat IC." It doesn't feel or seem like it's our characters doing the auctioning, the threads are full of OOC chatter, and there is really little to no RP happening. Like think about it, the property postings are sometimes ICly written as if it was a real world property posting, but then the bids are just random posts with numbers, no other info. Are these bids happening online on a website? Has that website done vetting of us? Are these bids going straight to e-mail? In which case that's really sus and no legitimate person IRL sells their home like that. It just seems to me like a bunch of GTA:W RPers on a forum OOCly bidding on an IC property 9 times out of 10.

 

If the auctions are to remain OOC like this, or, uh, "somewhat IC" then the punishment for rigging an auction should be OOC because the bad behavior is OOC. 

 

If the auctions are to become more distinctly IC, and that our characters are using a canonical IC auctioning service, then the punishments should be a mix of IC and OOC depending on the severity of the rigging. 

 

OOC punishments might involve having assets seized and ajails. Depending on what's happening, it can be an example of scamming. Other punishments may be timed bans from using the forum properties section in entirety. It's not my place to determine these punishments, but I encourage the management team who does look at this to consider punishments which don't just become a cost of doing business for scammers.

Edited December 9, 2021 by Ink