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Subject: RE: UKNM: Quixell - QVC on the Net?
From: Andrews, Stephen
Date: Fri, 30 Oct 1998 16:11:42 +0000 (GMT)

>Thoughts on the psychology of auctions

you can liken the "mentality" of the crowd to that in any other "crowd"
situation, whether it be oxford st xmas sales, football, rugby etc etc.

eseentially (the whole being bigger than the sum of its parts) the group
adopts behaviour patterns unique to that particular group at that
particular time. it is unpredictable and never the same, even with the
same group of people in the same circumstances.... and the individual is
simply swept along with it, often completely oblivious.

the very nature of the auction environment is that you CAN get a rolls
royce for �100 if there is no reserve and no-one else wants it - the
secret is that the PERCEPTION of bargains to be had is so great that the
mind is quickly fooled into believing that everything is good
value...until one gets home of course!

so an auction should be a marketing man's dream - it is all about
perception and manipulation of the masses, en masse.

Steve Andrews
Business Analyst
Cable & Wireless PLC

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