Collect minimum bid before sale ends

ishubagaria

Proposal: Seller can collect the minimum bid posted before sale ends.

Current workaround: None. Seller has to wait till the sale ends to collect the money.

Details: Say a player has put up an item for sale with a 'minimum bid' option (regardless of whether there is an 'immediate buy' option). Once a buyer has put a bid on the item, the seller will get that money no matter at the end who buys it and at what price.

What I propose is, if there is a minimum bid posted on an item, the seller should be able to collect that money even before the sale has ended, since the seller will get that money anyway only later. Once the sale ends, the seller can collect the remaining amount if there were any higher bids of if someone bought it for 'immediate buy' price.

For example, I put up and item for sale with $1000 as 'immediate buy' price and $500 as 'minimum bid' price. Someone bids $500 on it. When I'm in town, I can collect that $500 or whatever the current minimum bid on my item is, for now let's assume it was $500. At the end of the sale, the highest bid was $504. Since I already collected $500, I can collect $4 now. If the sale ended with immediate buy of $1000, I can collect the remaining $500.

Abuse Prevention: Cannot be abused. Sellers get what they would anyway, only earlier. Sales cannot be cancelled if it has been bid upon so sellers cannot collect money and cancel sale.

Future/Extra Changes: The sellers can be allowed to do this only once, or they can collect the money as many times as new bids have been put and there's more money to collect.

Visual Aids: The only visual change needed to be done is put that '$' sign which appears after sale next to the item if a minimum bid has been put.

Summary: Allow sellers to collect minimum bid money before sale ends, which they would get later anyway.
 

DeletedUser30224

I do not think it will be hard to implement at all so why not.But in reality something like this never happens (I would imagine).
 

DanteNightroad

Well-Known Member
conceptually it sounds simple but the mechanics would be mind boggling.
Where would the money come from ? I mean what if the bidder is out bid , when he gets the money back should the money come from some void (since you picked up the minimum )

"or they can collect the money as many times as new bids have been put and there's more money to collect." so I can have my friends bid on my stuff and just print money ? or do you want the mere act act of bidding to cost players money (note that in some cases minimum bid is 150k or more )?

and finally , why do we need this ? because you can't wait for the auctions to end ?
 

futurama1001

Well-Known Member
Seems unnecessarily complicated for very minimum actual change. Like Dante said, even if it were to be considered, the shuffling of funds would be possible, but a nightmare. The longest you'll have to wait to collect your money is a week, and that's really not too much to ask.
 

Cameahwait

When I first read this I thought the OP meant you could terminate the auction at any point and the person who bid gets the item there and then without waiting for a week or to be out bid.
 

ishubagaria

Where would the money come from ? I mean what if the bidder is out bid , when he gets the money back should the money come from some void (since you picked up the minimum )
The money would come from the next bidder's bid which gets locked since the next bidder doesn't have that money anymore. Same thing if there's a 3rd bid, the second bidder gets his money out of the money the 3rd bidder used to bid. And so on. Unless Inno implements an option to underbid, no "void" will be created.

"or they can collect the money as many times as new bids have been put and there's more money to collect." so I can have my friends bid on my stuff and just print money ?
There's no question of "printing money" since there's no new money or extra money coming into question. If your friend bids on your item, then he loses that amount like it happens in any bid. How will making friends bid on it allow you to make more money than you would normally do?
When I said collect as many times, it is obvious I meant the differential. If the current minimum bid is $500 and the seller has collected it, then upon the next bid of say $600, he can only collect $100 more.

or do you want the mere act act of bidding to cost players money (note that in some cases minimum bid is 150k or more )?
How will this cost the players any more than it normally does? People will have to spend the same thing on bids like in the current system.

and finally , why do we need this ? because you can't wait for the auctions to end ?
Yes. If there is money which I will most definitely get, why not get it earlier and let me use the money rather than having to wait to get the whole money? This will especially help low level players who need a lot of cash to buy different gears and get a stable income running. They can't find a lot of items at their level which the high level players will be interested in, so if they do actually find something in a job or spend bonds to buy a chest and find something worth selling, they can collect the money that has already been bid upon almost a week earlier in which they will gain several levels.

Seems unnecessarily complicated for very minimum actual change. Like Dante said, even if it were to be considered, the shuffling of funds would be possible, but a nightmare. The longest you'll have to wait to collect your money is a week, and that's really not too much to ask.
Whatever shuffling is possible can already be done. If I want to give money to some person, I can have him put up any junk for the required amount and buy it through 'immediate buy'. The minimum bid actually slows the shuffling because the buyer won't get back that money until the bid has ended or he has been overbid.

To clear things, this proposal will have absolutely no change or impact on the buyer's end.
 
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DeletedUser30224

Initially I was thinking it needed too much change to be implemented, but that was because I was comparing it to reality. You get the money from the successful bidder and all the system has to do extra is to track how much of those money you have already deducted. Each time you bid on something and you are overbid, you receive all your cash back, basically all that happens is that your money are given back to you while the other fella puts his money in the box, but the box must always contain money, not paper money but virtual currency where all you need is your balance changed from one number to another.

In any case, it would not be hard to implement, it's not illogical at all, so I do not see any reason why this proposal would be any less relevant to all other. Is it needed? Not really, but it would help some people out I guess.
 

futurama1001

Well-Known Member
This really would accomplish nothing other than assuaging a few players' impatience. True, it would hurt nobody, but I don't believe encouraging any more shortcuts is the way forward.
 

ishubagaria

I agree that it is not something that is needed for benefit of all players. It wouldn't benefit old players who usually have some cash in bank when they want to buy things and don't need to wait to sell something before they can buy. But new players who haven't played the previous event tombolas and don't have much equipment or low level players are usually at a shortage of cash and they have to wait the full week before they can utilise the money from their sales. This will just give them a chance to compete with other buyers at higher levels.
 

futurama1001

Well-Known Member
Why not just make the immediate purchase price lower? That's the reason that option exists, after all - so you don't have to wait the full auction length.
 

MFRavenhawk

Well-Known Member
Why not just make the immediate purchase price lower? That's the reason that option exists, after all - so you don't have to wait the full auction length.
Or simply make the auction shorter.

After all, you can set the time limit for both auctions and immediate sales from 1 to 7 days....If a player really needs money that quickly, instead of posting a 7 day auction without a minimum immediate purchase (or with one if he hopes to get more on direct sale), he can simply post it for 3 days.

You can still add that immediate purchase option too....but frankly, no one is going to waste time bidding on something with a minimum bid of $14999, and immediate purchase of $15000.
 

ishubagaria

In a pawnshop you can get your money before it is actually sold. The only shop I know of where this is possible.
But in this idea you don't get money before it is sold. You can only collect money if someone has bid on it and if someone has bid on it then it is sold and you cannot cancel and take that item back regardless of who wins the auction in the end and at what price, i.e. there already is a buyer when you are collecting money unlike in a pawn shop. Also, in a pawn shop you mortgage your item and have a chance of getting back your item if you repay the money which cannot happen here.
 
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