TheOneOmega
Elite
- Joined
- Oct 5, 2008
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- 3,099
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- Freelancer
- Avatar Name
- Marie TheOne Omega
I am willing to buy one Vehicle RK-10 TEN-S vehicle repair tool. This is a rare item obtainable through a recent, space-themed extension of the Entropia TEN event.
This purchase will be conducted using the Dutch Reverse Auction format, in which I propose to buyout the item at a price starting at 1 PEC and gradually increasing over time (roughly whenever I notice this thread has fallen off of the 1st page), until an interested party accepts the then-current price and sells the item to me. Thus as a matter of strategy, choosing to hold off until a later date to sell the item may result in a more attractive price for you, but also increases the probability that another interested party will beat you to the punch.
You may also submit offers, publicly or anonymously, which function sort of like sell limit orders, meaning that when a price increase causes the then-current price to match the lowest pending offer, that offer wins and the item gets sold for that offered price. Naturally, an offer placed far away from the current price is unlikely to be triggered for quite a long time. Because committing to offers of indefinite expiration can be uncomfortable, you may retract any of your offer(s) older than one month that you prefer to cancel, with no explanation required. Please make offers with the expectation of committing to them for at least one month. I will also commit to providing at least one month of notice before making any significant changes to (or canceling) the yet-to-be-won auction, except for the specific changes preempted in the next paragraph, or in the event of an obviously-and-catastrophically-relevant development in Entropia (like a bunch of new unlimited vehicle repair tools entering circulation).
Once sufficient offers have been received, I may announce a fixed end date at which the current price is guaranteed to increase to match the lowest offer. In such a case, all active offers would effectively become bids in an English Reverse Auction, and I would thus be committing myself to buying the item from the lowest bidder. The lowest bid would be displayed publicly, but the bidders could remain anonymous if desired. The end date would likely be just a few days or weeks after the announcement, but if any bids were from offers older than one month, they would still be retractable. This shouldn't affect sellers negatively, or constitute a significant change requiring advanced notice. Likewise, I might make minor changes strictly advantageous to sellers without advanced notice, like adding a bonus gift for the winner or alternative item-trade buyout options into the mix.
Disclaimer! The current price parameter is an essential variable in the Dutch Reverse Auction mechanism. It is the dynamic evolution of this parameter which makes the mechanism a successful auction format. Any snapshot of the parameter viewed at a static point in time has no meaningful interpretation. It does not constitute a claim about my valuation of the item, and may approach a reasonable price range slowly to give folks time to find this thread. I do not know the value of the item (hence this auction format). I do not think enough copies of the item have transacted to make historical price information particularly meaningful (not a fan of doing technical analysis on two or three price points), and new, relevant information has since surfaced casting doubt on its status as the optimally-efficient skilling tool (there may be other new, relevant information as well, some favoring the opposite conclusion, such as the knowledge that no new unlimited repair tools are being dropped during TWEN). I have excluded listing historical price information so as not to give it undue weight (I actually didn't even consider it meaningful enough to review for my own insight), but you are of course free to search it if you believe it to be useful, and regardless, you certainly should be giving careful, thorough consideration to your personal valuation of this item before making a sale or offer. This isn't likely to be a super limited-time type of pitch. It should be around for months or until someone accepts the buyout. Please participate in this exchange responsibly!
Thank you for viewing my sales thread, and good luck to everyone!
This purchase will be conducted using the Dutch Reverse Auction format, in which I propose to buyout the item at a price starting at 1 PEC and gradually increasing over time (roughly whenever I notice this thread has fallen off of the 1st page), until an interested party accepts the then-current price and sells the item to me. Thus as a matter of strategy, choosing to hold off until a later date to sell the item may result in a more attractive price for you, but also increases the probability that another interested party will beat you to the punch.
CURRENT PRICE (BUYOUT): 1000 PED (increased on 2/21/2024)
You may also submit offers, publicly or anonymously, which function sort of like sell limit orders, meaning that when a price increase causes the then-current price to match the lowest pending offer, that offer wins and the item gets sold for that offered price. Naturally, an offer placed far away from the current price is unlikely to be triggered for quite a long time. Because committing to offers of indefinite expiration can be uncomfortable, you may retract any of your offer(s) older than one month that you prefer to cancel, with no explanation required. Please make offers with the expectation of committing to them for at least one month. I will also commit to providing at least one month of notice before making any significant changes to (or canceling) the yet-to-be-won auction, except for the specific changes preempted in the next paragraph, or in the event of an obviously-and-catastrophically-relevant development in Entropia (like a bunch of new unlimited vehicle repair tools entering circulation).
Once sufficient offers have been received, I may announce a fixed end date at which the current price is guaranteed to increase to match the lowest offer. In such a case, all active offers would effectively become bids in an English Reverse Auction, and I would thus be committing myself to buying the item from the lowest bidder. The lowest bid would be displayed publicly, but the bidders could remain anonymous if desired. The end date would likely be just a few days or weeks after the announcement, but if any bids were from offers older than one month, they would still be retractable. This shouldn't affect sellers negatively, or constitute a significant change requiring advanced notice. Likewise, I might make minor changes strictly advantageous to sellers without advanced notice, like adding a bonus gift for the winner or alternative item-trade buyout options into the mix.
Disclaimer! The current price parameter is an essential variable in the Dutch Reverse Auction mechanism. It is the dynamic evolution of this parameter which makes the mechanism a successful auction format. Any snapshot of the parameter viewed at a static point in time has no meaningful interpretation. It does not constitute a claim about my valuation of the item, and may approach a reasonable price range slowly to give folks time to find this thread. I do not know the value of the item (hence this auction format). I do not think enough copies of the item have transacted to make historical price information particularly meaningful (not a fan of doing technical analysis on two or three price points), and new, relevant information has since surfaced casting doubt on its status as the optimally-efficient skilling tool (there may be other new, relevant information as well, some favoring the opposite conclusion, such as the knowledge that no new unlimited repair tools are being dropped during TWEN). I have excluded listing historical price information so as not to give it undue weight (I actually didn't even consider it meaningful enough to review for my own insight), but you are of course free to search it if you believe it to be useful, and regardless, you certainly should be giving careful, thorough consideration to your personal valuation of this item before making a sale or offer. This isn't likely to be a super limited-time type of pitch. It should be around for months or until someone accepts the buyout. Please participate in this exchange responsibly!
Thank you for viewing my sales thread, and good luck to everyone!
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