interesting concept
some alternatives or other thoughts.
- request's to push back the time require user to submit a valid bid. (So it could be like, a BID + TIME EXTENSION)
- Time extension might automatically add, say, 15% to the bid? (ie: Bid at $1m with extension auto becomes $1.15m)
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actually u raise an interesting point and im just sitting here thinking about it - if the actual problem is that in a 3 day bid, a user may not be available to bid during the bidding war, then maybe we just need to make it a minimum 5 day bid time?
there might still be a bidding war at the end, but at least there is more time in the lead up to see the player, put a bid on, etc....
other options might be
- hidden Reserve price, set by the seller. If reserve is met more than 24 hours before bid close time, person whom hits the Reserve price first gets the player. This might work in getting people to bid higher, earlier and reduce the number of 'bidding wars'
- Have the option to go 'market price' or 'agreed price' whereby, agreed price is the current bid system, however the seller may choose 'market price' by which the player is basically on the market at a 'Buy It Now' type of concept.
anyways just throwing a few ideas out there.