Just curious. Not that I expect it, but I had an epiphany with the lemon craze going on.
Ok, so under normal circumstances, if someone bids say $3 a piece on 5,000 oranges, and then doesn't pay up, whatever, the oranges are still worth around what they were when the auction began, so the owner can just relist them without much financial loss.
With the lemon craze settling, I noticed an auction for 100,000 lemons with a current bid of 39c per. Looking at the market prices right now being 29c and falling, I have to imagine when the auction ends the bidder will be overpaying more than 1,000,000c versus what they could buy the 100,000 lemons for on the market. Besides ruining their good name by bilking, what's in place to ensure the bidder has to pay up?
Not to say the person in this case won't pay, but a bilked contract like that could be very detrimental. Especially if the bidder holds the contract until the contest is over before refusing. That would leave the seller not only out the 3.9 million caps they were expecting, but leave them with 100,000 lemons that probably won't be worth more than 1c each when the contest is over. That's a 3.8 million cap value swing!:shock:
Doesn't seem like much could be done to enforce it, unless an admin garnished the person's buildings and other assets.
Just curious how auction enforcement is protected?
What happens if a bidder defaults in auction?
Moderator: moderators
If someone does not accept the contract of an auction he won, the seller usually will send a pm to one of us mods.
We get into contact with this person and the measures we will take are the following:
1. just a kind message... asking for the reason, if the contract is signed then: ok
2. not signed: banned from further auctions
further possible steps: ban from the board and possible ban from the game...
I personally think however, that communication between the parties and a mod should have priority.
I hope this hinders people from not accepting such contracts and makes everybody think about the auction he participates.
We get into contact with this person and the measures we will take are the following:
1. just a kind message... asking for the reason, if the contract is signed then: ok
2. not signed: banned from further auctions
further possible steps: ban from the board and possible ban from the game...
I personally think however, that communication between the parties and a mod should have priority.
I hope this hinders people from not accepting such contracts and makes everybody think about the auction he participates.
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Guest
hello together,
I think the question is about an auction in wich I bid 3,9Mio for 100000 lemons.
In this moment I bid, the price @ the market was much higher...so I think for the moment it is a good deal.
Few hours later I looked in the market and I must wish my eyes...the price is falling down - down - down - down --- ohhh my god
Now the auction is over and I won (sadly)...but it is a kind of honor to release the auction... I paid 3,9 Mio......(dry my tears)........
Thats business ... one time win ... one time loose....
CIAO and *have a nice time in Kapiland*
I think the question is about an auction in wich I bid 3,9Mio for 100000 lemons.
In this moment I bid, the price @ the market was much higher...so I think for the moment it is a good deal.
Few hours later I looked in the market and I must wish my eyes...the price is falling down - down - down - down --- ohhh my god
Now the auction is over and I won (sadly)...but it is a kind of honor to release the auction... I paid 3,9 Mio......(dry my tears)........
Thats business ... one time win ... one time loose....
CIAO and *have a nice time in Kapiland*