Bid or buy looks a very good concept in theory but in practicality it does not look that good. if you see 90% of the auctions taking place ( starting with Rs. 1) by the time it is to end it almost touches its market price some times even higher than that which does not look practical I don’t understand that how come for all the products they find bidders and that also within that stipulated time.
Other wise in the auction field it has created new concepts like one hour crazy auctions and auction on monthly payments and auto incremental bids but at the end I feel something fishy when the prices go beyond the market price.
Mangesh