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System of auction


lSpectralito

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I agree... they could even implement a deadline type of auction (where the highest bid in the set deadline would win the auction) with a optional automatic purchase price (if one player offer that price, he will buy in the moment). The bids might be secret or public...

 

Example: I want to sell my 5x31 natured comp... the minimum bid is 900k, and the auction will last 1 month... if i select secret/hidden bids, each buyer can offer 1 bid and after that month the player with the highest bid will get my comp. But if I select public/open bids, every buyer would be able to see the winning bid and offer more OR buy instantly, if seller made the choice to put a instant purchase price (2M)... 

 

It might make the GTL even more worthy AND if the auction have the cost right, another money sink 

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I agree that an auction system would be beneficial and is maybe needed.
The interesting part is, how non-money offers could be incorporated - should the seller assign a value to the offer made to make it comparable to other offers and to continue the bid?
Or - to keep it more consistent - non-money offers could be directly auctioned themselves until to convert all offers into plain money eventually?
The intertwined auctions could significantly slow down the process to sell while retaining the important benefit that one does not need to know market values to sell via an auction system.

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I think an auction would be awesome in game. Though I think it would be better to gear it for shorter term. We already have the global trade link for long sell options as well as buy now options. So my opinion would be to gear the auctions for 1-3 day average with a week or two being the longest. It will incentivize people to bid more. Plus auction houses often turn into bid wars so most of the time in long auctions the price dosen't go up much until the very end anyway.

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1 hour ago, XelaKebert said:

In any auction the current high bid should always be public. No sense in bidding without knowing if your bid will be the high bid or not.

It may allow buyers to offer how much they think it's worth or how much they are willing to pay (not just a little over the current winning bid)... If they are really interested, they may offer even higher than the winning bid (afraid someone else might have offered more) but it was just a ideia... 

 

5 minutes ago, BerZerKsC said:

I think an auction would be awesome in game. Though I think it would be better to gear it for shorter term. We already have the global trade link for long sell options as well as buy now options. So my opinion would be to gear the auctions for 1-3 day average with a week or two being the longest. It will incentivize people to bid more. Plus auction houses often turn into bid wars so most of the time in long auctions the price dosen't go up much until the very end anyway.

If there is a instant purchase price, you risk someone make that offer and take it without giving you a chance to bid again... 

 

My point is... if there is the possiblity people VERY INTERESTED might offer way higher,  it means another form of money sink AND another form of players making money (selling their shinies for example)

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1 hour ago, Anthrazit said:

The interesting part is, how non-money offers could be incorporated - should the seller assign a value to the offer made to make it comparable to other offers and to continue the bid?

Non-money offers are honestly too much of a mess to even try and handle when we already have a working global currency that everyone requires.

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1 hour ago, vitormurucci said:

It may allow buyers to offer how much they think it's worth or how much they are willing to pay (not just a little over the current winning bid)... If they are really interested, they may offer even higher than the winning bid (afraid someone else might have offered more) but it was just a ideia... 

That's not how auctions work. Players are bidding on an item. Knowing what the high bid is currently is essential for the system to work otherwise nobody will use it. Too much risk for most people. It has nothing to do with value. If players wanted a value they could do a reserve on it wherein if the high bid doesn't meet their expectations it is pulled.

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44 minutes ago, XelaKebert said:

That's not how auctions work. Players are bidding on an item. Knowing what the high bid is currently is essential for the system to work otherwise nobody will use it. Too much risk for most people. It has nothing to do with value. If players wanted a value they could do a reserve on it wherein if the high bid doesn't meet their expectations it is pulled.

I don't know if i explained it right... english is not my primary language...  so i copied a explanation from wikipedia... is it ok to post external link?

 

"A first-price sealed-bid auction (FPSBA) is a common type of auction. It is also known as blind auction.[1] In this type of auction, all bidders simultaneously submit sealed bids, so that no bidder knows the bid of any other participant. The highest bidder pays the price they submitted."

 

Edit: as I said, it's just an idea... not sure if it would work but auction with hidden bids is a thing 

Edited by vitormurucci
More explanation
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2 hours ago, Darkshade said:

Non-money offers are honestly too much of a mess to even try and handle when we already have a working global currency that everyone requires.

Moderately off-topic but has the idea of a "Request" esque system on the GTL ever been considered?

E.g. you are able to pick through a menu what you want in your Request to be and it will be placed onto the GTL, people are able to submit anything as long as it meets the requirements of your order and then receive their payment instantly.
People would have to Deposit their offered Payment (e.g. the 1,400,000 $ they are offering + a 25,000 deposit (they get the deposit back when the order is fulfilled or canceled, just to prevent people making infinite requests for 100$ comp Hydreigons etc).

Example: I wish to purchase (for some reason) an Adamant Volcarona but there are none on GTL so I list a request offering to pay 1,400,000$ is made, as long as the following conditions are met:


Pokemon: Volcarona
Egg Group: Any
Gender: Either
Nature: Adamant
Level: Any
HP IV: 31
Attack IV: 31
Def: Any
Spatt: Any
Sp.Def: Any
Speed: 31


Any pokemon meeting those requirements can be used to fulfill the request, the pokemon is mailed to the person who made the request, the person who supplied the pokemon gets the money that was put into the system when the request was made (the 1,400,000$ in this case) and the deposit of 25,000$ is returned to the person who created the request.

That was a bit longer than I expected it to be and I kinda rambled, but the idea still intrigues as currently there are ways to instantly get a pokemon through GTL if you have the cash, but getting instant cash if you have the pokemon desired takes time and this coulda kinda alleviate it maybe? Not at all neccesary in the grand scheme but still.

any thoughts?
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2 hours ago, vitormurucci said:

"A first-price sealed-bid auction (FPSBA) is a common type of auction. It is also known as blind auction.[1] In this type of auction, all bidders simultaneously submit sealed bids, so that no bidder knows the bid of any other participant. The highest bidder pays the price they submitted."

I think Xela did understand the concept but wanted to point out that it might not become popular in PokeMMO and would therefor not be used.

3 hours ago, XelaKebert said:

Knowing what the high bid is currently is essential for the system to work otherwise nobody will use it.


As Darkshade reasoned, it is needed that all offers are entirely in cash to not make auctioning too complicated.
Now imagine, that the system might need you to deposit any bid you made - to ensure that you offer stands.
With a system of blind auctioning those deposits would be blocked until the end of every auction you participated in, while with an open auction ('English auction') your deposit would be cleared once you are outbid.

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2 minutes ago, Anthrazit said:

I think Xela did understand the concept but wanted to point out that it might not become popular in PokeMMO and would therefor not be used.

Maybe I misunderstood when he said that auctions doesn't work that way...

 

4 minutes ago, Anthrazit said:

As Darkshade reasoned, it is needed that all offers are entirely in cash to not make auctioning too complicated.
Now imagine, that the system might need you to deposit any bid you made - to ensure that you offer stands.
With a system of blind auctioning those deposits would be blocked until the end of every auction you participated in, while with an open auction ('English auction') your deposit would be cleared once you are outbid.

 

the way I thought about it, the bid would be deposited (money only) until the auction is over OR the player cancel its bid... the player can choose to bid in the very end of the auction (which he would be forced to, if it's a open bid auction) but also can choose to allow his money to be taken for longer time... imagine the possibility of one interested player not be able to be logged in again until the auction is over... there would be no problem in not having the money available to him... 

 

And there is the possibility to implement both types of auction (I don't know how much work for the devs it would be) but my opinion is that, in a open bid auction, as BerZerKsC said above, most bidders focus on the very end of the auction to bid... anyone not online very close to the expiration time would be left out of the auction... And because there are people all over the world playing (in different time zones), the hidden bid auction would give a chance to everyone be part of it... not only those online at the time.

 

If the devs only wants to implement only one type and they think that open bid would attract more bidders, it's ok... but i was just saying that hidden bids also work (i can't say if would attract more or less bidders)

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with the aution u can choose if u want check glt for anything that you are looking for and check the price aution can be other system different glt just only autions u cant make an offer if u don't have the money if ppl just want a trade can use the trade channel is nice idea just need some work by devs

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40 minutes ago, vitormurucci said:

the way I thought about it, the bid would be deposited (money only) until the auction is over OR the player cancel its bid... the player can choose to bid in the very end of the auction (which he would be forced to, if it's a open bid auction) but also can choose to allow his money to be taken for longer time... imagine the possibility of one interested player not be able to be logged in again until the auction is over... there would be no problem in not having the money available to him... 

 

[...] most bidders focus on the very end of the auction to bid... anyone not online very close to the expiration time would be left out of the auction... And because there are people all over the world playing (in different time zones), the hidden bid auction would give a chance to everyone be part of it... not only those online at the time.

You might counter this by extending the time till the end of an auction after each new bid (e.g. 3 days). People would know to check at least once during that time to be able to make a new bid if needed.

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8 minutes ago, Anthrazit said:

You might counter this by extending the time till the end of an auction after each new bid (e.g. 3 days). People would know to check at least once during that time to be able to make a new bid if needed.

That's one way to solve the problem... maybe the seller could be able to select the increase for each bid.. and the new bidders only click in the new bid increased automatically... because for cheaper things might work OK but, for expensive things, increasing at low rates would take forever to be sold (imagine a natured comp increasing by 1k, 5k, 10k)... but i liked the idea

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