Final Extension
Some online auction systems attempt to discourage sniping (manual or automatic) by automatically extending the auction time if a last-minute bid is placed. This approach leaves all bidding open, and allows any bidders who are watching during the final few minutes to raise the bid. It can also lead to last-minute automated out-of-control bidding wars between bidders, which can extend the bidding time long beyond what the seller desired, greatly raising the final selling price. Any site which implements a limit to the number of time extensions allowed simply causes a final extension snipe.
Read more about this topic: Auction Sniping, Deterrents
Famous quotes containing the words final and/or extension:
“Man, her last work, who seemed so fair,
Such splendid purpose in his eyes,
Who rolled the psalm to wintry skies,
Who built him fanes of fruitless prayer,
Who trusted God was love indeed
And love Creation’s final law—
Though Nature, red in tooth and claw
With ravine, shrieked against his creed—”
—Alfred Tennyson (1809–1892)
“The desert is a natural extension of the inner silence of the body. If humanity’s language, technology, and buildings are an extension of its constructive faculties, the desert alone is an extension of its capacity for absence, the ideal schema of humanity’s disappearance.”
—Jean Baudrillard (b. 1929)