Got paid already ....
Before I head to the post office....
just want to repeat my thanks above folks who are paying attention to this format , and bearing getting used to it / evolution that comes with doing something new .
In the spirit of offering food for thought , below are some opinions that I came to believe in once upon a time when I had some experience studying and regularly participating in auctions in the non bicycle world.
for what they are worth ..... opinions that may or may not have some relevance :
Principles I found that tend to promote best results for selling by Auction :
- skin in the game : -sellers who are willing to give concession for liquidity / price discovery and getting transaction completed . - Reliable counterparties ( buyers and sellers can be trusted to honor terms of sale follow thru and have a stake in keeping their reputation for credibility: ie good faith actors ) - buyers that commit time to focus because it ends up being beneficial
- predictability / regularity ( when there is a known advertised regular day or hour to channel new offerings, more buyers will show up )
( for example : this could take the form of a side bar / previewed pane )
- time bound : finding a balance between getting long enough participants to see the offering and
Short enough to maintain focus and get transaction done. ( considering time zones and real life practicality : some participate situations related available to time to respond / time to be focused on the auction may be better suited for standard classified format )
-critical mass : speculators and profiteers, even pick off artists if they have money to spend and follow rules , are a plus, not a minus. Any reasonable ( emphasis on reasonable ) is better than none.
Scarce products that are in demand are a plus , as are high velocity items . diversity of participate types / profiles boosts effectiveness for all
- visibility : Pre announce / spot light what’s coming up and when : commit to a time frame , even if that means conditions may be more or less favorable : over time, on average commitment to a time frame enhances price result for repeat sellers.... this can be an advance notice of a future date that auction will go live , or it can be a seller that puts something in the auction venue every week if the year , and sells more overall , even if there are some auctions that go poorly , on average the ones that go well more than compensate , because participants pay attention to his/ her offerings
Maybe some of the themes above might be useful to shape how Dond continues to develop.
For now , I’m just thrilled I got a good price quickly with a trusted member of the cabe!