What should the punishment be for retracting your bid on a auction?

[Ajdin]

Hi there,

What do you think the punishment should be for users retracting their bid?

Just looking for input as I feel like this should be more clear.

Thanks.

 

[Nagi]

Similar to Ebay; suspension for a week.
But you should be able to retract your bid with in 24 hours of making it.
For example, if I bid $12321380129381209 on an account and I find out that it's cracked, then... yeah.. circumstances...

 

[Justis]

I use eBay a lot, a site in which bidding takes on a large majority of transactions.
They've been around, successfully, for a long time.

We're not eBay, sure; but it'd be ignorant to not at least take a look at how they handle bid retractions, since they're obviously doing something right.

http://pages.ebay.com/ebaymotors/help/buyerguide/bidding-retract.html

Spoiler: Text Version

It's OK to retract a bid if...

• You accidentally enter a wrong bid amount. For instance, you bid $99.50 instead of $9.95.
• The item description of something you're bidding on has changed-a lot!
• You cannot authenticate the seller's identity.

It's NOT OK to retract a bid if...

• You change your mind about the item.
• You decide you can't really afford it.
• You bid a little higher than you promised yourself you'd go.

If you place a bid before the last 12-hour period of the auction:
you may retract that bid before that last 12-hour period but only for exceptional circumstances.

you will not be allowed to retract that bid during the last 12-hour period of the auction.

If you place a bid during the last 12-hour period of the auction: you will be allowed to retract the bid for exceptional circumstances but only if you do so within one hour after placing the bid.

If you are not allowed to retract your bid during the last 12-hour period of the auction, you may contact the seller to request that your bid be canceled. The seller will have the discretion whether to cancel your bid.
Of course, notwithstanding the above rules, you may retract a bid anytime if the seller materially changes the item's description after you bid.

If the user's bid retractions does not meet this or similar criteria, (because we all know sometimes there are exceptions)
The user should be warned 2 warning points.
Every time they do so.

 

[CheaterDeleter]

You should be able to retract your bid with in 24 hours of making it.


Things could be posted to change your mind about buying Example: Leaked

 

[WinnerPlays]

I think that you should have 4 hours to retract your bid. However, failure to follow that timeline, should result in a two day suspension.

 

[Jxor]

Honestly warning points doesn't really do anything, you get suspended.
Suspension from the website, it's basically telling us to get off our ass and go outside.

In words towards the topic of bids, we should be able to retract our bid if it has a logical reason behind it, not like "oh I felt like it", maybe the reason could have been "Family Emergency" or something that actually makes since.
If it's a troll bid, just ban them.

 

[Dannyj]

I think you should have 3 hours to retract. If you do after you need to get something like a 3 day suspension. It's really annoying if people retract.

 

[Dannyj]

>bids on skype account named "google"
>finds out it has total aids and was jacked off 2 people 4 days later
>retracts bid
>would get suspended on mcm for 2 days because he doesn't want to buy a product that has terrible history

What would happen under these circumstances?

In some circumstances(as justis stated in text version if eBay) you may do that.

 

[Clyde]

I say it should depend on what the selling item is, and how much the person bids.

If a person bids between maybe $0.01-$10, then it should be maybe a warning point or 2 if they don't retract it in time (Maybe they have up to 24 hours or less).
If a person bids between $11-$50, then maybe a 1 day suspension, but they have 12 hours or less to retract it.
If a person bids $51-100, then a 3 day suspension.
Anywhere above $100+ should honestly be a 3 days-1 week suspension as that's quite a bit of money and the person should only bid if they truly want it. (They have no more than 1 1/2 hours to retract the bid)

People who are bidding are more constantly removing their bid right when the seller is about to notify everyone who won, and it gets quite annoying honestly.

Here is a neat feature for people who are gonna auction/sell/bid, they should be approached with a warning with something like "You are about to auction/sell an item, do you accept the rules for this section of the forums and promise that you are selling a valid item to the users of MC-Market?", and when the person clicks "Yes" then they are entitled to sell/auction on that section of the forums, but if they sell/auction something that they don't have then they'll be temporarily removed from that section on the forum and given maybe a small punishment or warning.

For the people who are wanting to bid, then they must agree upon "You agree that you are about to possibly bid on something in this section of the forum. Do you agree that upon the time of bidding on an item you must have the money on-hand and ready to pay if said bidder wins?" and if they click yes, then they are entitled to bid on said item. If they retract the bid before their retracting period is up, then they're temporarily removed from entering that section of the forum, and given a small punishment or warning.

I think this idea should honestly help prevent any issues, and improve the efficiency of the market and it's sellers/bidders.

 

[Clyde]

2
"Here is a neat feature for people who are gonna auction/sell/bid, they should be approached with a warning with something like "You are about to auction/sell an item, do you accept the rules for this section and the forums and promise that you are selling a valid item to the users of MC-Market?", and when the person clicks "Yes" then they are entitled to sell/auction on that section of the forums, but if they sell/auction something that they don't have then they'll be temporarily removed from that section on the forum and given maybe a small punishment or warning."
That's classed as scamming, if you do so you issue a scam report, and the user can be perma banned.

That is true, I didn't think of that honestly. Thanks!

Anyways, there are times where the auctioneer does have the item, but currently doesn't have them hands on during the time of said end date. I think opening a scam report/banning right away is a bit to extreme. If the auctioneer states that they won't be home for maybe a couple of hours, then a grace period should be given before action is taken. This should help prevent problems of banning legitimate auctioneers actually wanting to sell said product.

 

[Sloth]

I agree with Tulip. There have been many times where something has come up that won't allow me to keep a bid up. I think it's better for a seller to know your bid doesn't counter sooner rather than having the seller find out when the buyer doesn't have the money. If the seller is unhappy with removing the bid then maybe a punishment could be given?