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Seller shouldn't be able to bid on the auction #8

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ericxtang opened this issue Oct 15, 2016 · 2 comments
Open

Seller shouldn't be able to bid on the auction #8

ericxtang opened this issue Oct 15, 2016 · 2 comments
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@ericxtang
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Change in both js and in the contract

@ericxtang ericxtang added the bug label Oct 15, 2016
@dob
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dob commented Oct 25, 2016

I'm not positive that we'd want to exclude the seller from bidding. Imagine an item is up for auction, someone passes the reserve, but the seller decides he doesn't want to sell it afterall. He could still outbid someone else, and his only penalty would be paying the distribution cut.

@ericxtang
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Hmm... that makes sense. I was trying avoid the case where the seller artificially bids up the price. I found this link - https://mikebrandlyauctioneer.wordpress.com/2009/11/15/different-types-of-auctions/ Basically, by law, an auction in the U.S can be "with reserve" or "without reserve". If a seller is allowed to bid, the auction is automatically "with reserve", which can affect the willingness of sophisticated participants.

With that being said, I think we can mark this as an enhancement for now, and adding it as an enhancement later.

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