Ebay now has car ads where the price drops every hour until the item is sold.
This is the first step toward "chicken mode listing", where the price drop is guaranteed until either the item is BIN/IPR'd, or seller chickens out.
Keep in mind that Ebay Motors sales aren't even binding, let alone Immediate Payment Required.
However, I'm pleased that ebay has discovered the concept.
For ordinary chicken mode, I suggest one price drop per day, exactly 24 hours after the listing was created. This allows sniping the new price. The price drop can be set by seller, to be 1% to 10% of the then current price. Chicken mode listings should be scheduled for up to 30 days.
IPR is crucial, for multiple reasons. For one, it ends NPB hassles. For two, it provides a nice resolution to "who was first". And, for three, it makes it clear what price buyer is paying.
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