To those vendors who do auctioning now

Post by **VinSnr** » Mon Oct 24, 2005 5:01 pm

Hi,

I saw some auctioning going on in this forum for the Mars watch event. This is all good and fine. But I have a concern.

In all auctioning, the closing of the auction should be done in the fairest and in the most transparent way possible. I am disturb by the fact that the current auctioning now have a closing time during the night of the event itself. How would then can the vendor ensure that the bids flowing in during the night of the event be shown in the most transparent manner?

Last I would want to see is that the vendors taking in bids through sms, verbal, during the event itself. If this happen, the vendor can end up dictating the price of the item because no one can actually see or know who are the bidders.

Now with a $1400 scope from McGill at stake (and McGill didn't even state the closing time), let's think of a more transparent way to relate the bids during the event itself. I suggest to have a whiteboard next to the vendor booth so that any bidder can walk up there and write his name and bidding price. This way, it will be more transparent for all to see....

What you guys think?

qu1xs1lv3r · Post by **qu1xs1lv3r** » Mon Oct 24, 2005 5:07 pm

why dont it jz end before mars watch? like on friday?

Post by **VinSnr** » Mon Oct 24, 2005 5:11 pm

qu1xs1lv3r wrote:why dont it jz end before mars watch? like on friday?

because if u do that, you are cutting off the members of the public who could also bid for the item. Meaning less chances for the vendors to fetch a better price.

So to be fair to them, it is ok to extend till the event night itself....but make sure they do it in the most transparent way possible.

qu1xs1lv3r · Post by **qu1xs1lv3r** » Mon Oct 24, 2005 5:12 pm

well end the net bidding on friday.. then continue bidding on saturday night..

river · Post by **river** » Mon Oct 24, 2005 5:20 pm

I suggest on-line bidding end on some time (eg. Sat noon) before the even start. dedicated time slot and venue for bidding on that night. Bidder must be there to bid.

Post by **Lee** » Mon Oct 24, 2005 5:25 pm

VinSnr wrote:
qu1xs1lv3r wrote:why dont it jz end before mars watch? like on friday?
because if u do that, you are cutting off the members of the public who could also bid for the item. Meaning less chances for the vendors to fetch a better price.

So to be fair to them, it is ok to extend till the event night itself....but make sure they do it in the most transparent way possible.

Vincent I fully agree the idea of the White Board or something that sort which will enable transparency. Will arrange for that.

However please note that our bidding is only for Singastro Members who make an effort to be present on that night at least staying after 11pm if they are really interested to bid

chrisyeo · Post by **chrisyeo** » Mon Oct 24, 2005 5:29 pm

Hi Vincent, I understand your concern. Thanks for raising it; I trust that the vendors will not purposely inflate any bidding price.

In the interest of transparency, can TPS and McGill kindly have a piece of paper on their tables with a record of all bids and bidders for the night, visible to all? Also, bidding should only start at 7pm and must end by a stipulated time - tentatively, 11pm. The opening bid for the night should also be the last reflected bid online.

If required, I can provide you with a mounting board and mahjong paper. There is a shortage of white boards so we cannot provide one. You may wish to bring a small one of your own.

Thank you! You kind cooperation is much appreciated.

Chris

Post by **VinSnr** » Mon Oct 24, 2005 5:32 pm

However please note that our bidding is only for Singastro Members who make an effort to be present on that night at least staying after 11pm if they are really interested to bid

lee, you sure you are not gonna open to public?

I am just afraid that it might be difficult to monitor who is from singastro and who is not, and you might even have to face unhappy members of the public who has the money to bid but was turned away....

So I would advise that if you strictly keep this to singastro members only, then it is better to end the auction before the night of the event.

Post by **Lee** » Mon Oct 24, 2005 5:55 pm

VinSnr wrote:
However please note that our bidding is only for Singastro Members who make an effort to be present on that night at least staying after 11pm if they are really interested to bid
lee, you sure you are not gonna open to public?

I am just afraid that it might be difficult to monitor who is from singastro and who is not, and you might even have to face unhappy members of the public who has the money to bid but was turned away....

So I would advise that if you strictly keep this to singastro members only, then it is better to end the auction before the night of the event.

Thanks, an oversight.
OK, I will amend the bidding time to close at 6am Sat morning.