Let's see if we can get this down to $24

I'm in at 24

[Y[ 24 [Y]

I'm in at 24.

It is now at $27.  So I dropped my bid to $24.  If the price does not go down by Thursday, I will raise it back up to 27.  However, I think if enough are focused on this resource, it should go down to $24

Thanks for the thoughts.  I will raise my bid, then to $27.  I confess, however, that I dont understand why lowering the bid to $24 is not a good strategy.  I guess I think that if 1000 more people jump in at $27, the final price would be $27.  But if all those people dropped their bids to $24, then the final price would be $24.  My thoughts was to drop the bid to $24 to encourage others to jump in at $24.  And if on Thursday night, the price was still set at $27, then I would change the bid on Thursday night.

Mark ... the computation is simply what's the lowest price, adding up the bids at that price and above, whose sum would equal the cost of production?

If everyone bid $24  (a point below the breakeven), that would not move the equating price down (since you'd be 10% short of the production cost).

You'd need 10% more bidders (approximately).  10% is hard to come by unless it's a popular CP. I'd assume Mark would be.

But I'd bet there's a silent investor involved.

Denise said:

Mark ... the computation is simply what's the lowest price, adding up the bids at that price and above, whose sum would equal the cost of production?

If everyone bid $24  (a point below the breakeven), that would not move the equating price down (since you'd be 10% short of the production cost).

You'd need 10% more bidders (approximately).  10% is hard to come by unless it's a popular CP. I'd assume Mark would be.

But I'd bet there's a silent investor involved.

Denise, I understand this. Changing a bid to $24 may attract newer people to bid at $24.  If enough do, then the price comes down.  If not, then I change the bid back to $27 on Thursday night.  That was my strategy.

Bruce, what is your bid?  You are hoping to get the price down to $24.  So what is your bid?

@ 27

Mark said:

What would need to happen in order for the price to possibly get down to $24?

More bids at $27 and $24. 

Somewhat related ...  To reduce the overall price, it might help to get the bid increments to be less than $3.

It may be that we are at $26 ... or lower and don't know it.

Steve

I am in at $27.  But this thread has not yet made sense to me. It seems to me that what is being said in this thread is that if the price could be $24 or $26 even if no one bids those amounts.  If everyone bid $50 and enough people did so, this thread is communicating that if enough bids came in, even if they were all at $50, the price could be $24 or $27 or something smaller than $50.  If this is how CP works, then it is indeed new to me.  I simply dont believe at the moment that this is how CP works.

The way I understand CP is that we bid the price we are willing to pay for the resource.  If our bid falls below the current price, we lose out.  If we bid the current price or higher, we will get the resource at the CP price.  If enough people bid $1, then the CP price would be $1.  If the current price is $27 and enough people begin to bid $24, then the price would drop to $24.  If enough people did not bid for $24, then the only way to get the CP at $27 would be to change the bid to $27 before Friday afternoon.

Looking at the graph shows that a lot of people bid at $27 and also at $24.  So if there was any hope of getting the price to $24, more people would have to change their bids either to be higher ( to $24) or more people would have to get on board to want the resource, and bid $24.  If more people came on board and bid $27, the price would go off the graph, but the CP would be set for $27.  That is my understanding of the process.  Apparently a flawed understanding as I am gathering from others in this thread.  I just have not been shown it clearly to abandon this way of thinking.

One of the interesting features of Logos, due to the large customer base, is that a whole lot of people bidding (any amount) would allow Logos to produce CP's at $1 per volume or less.  That was Bob's point I think (the Logos CEO).

But most people stick with a narrow range of interest and get picky about the amount  ($9 vs $11), which means the price/volume tends to be around $20 or so overall, plus or minus.

Pre-pubs are another curiousity.  They seem to get a fairly high starting price, and then go to sleep.  Apparently the projected customer count isn't sufficient for a lower price to be offered.

I've often wondered what would happen if you had a subscription to pre-pubs with a large number of subscriptions (probably wouldn't work).

1. if you want the book, just bid to the max (furthest right) and go to sleep. no need to change or worry about the bid.

2. otherwise if you just want to help the book to pass, then bid at 100% line and cancel later at production time.

simple.

No offense to Bruce, but titles like 'Let's get this one down' doesn't really speak to how you get the price down .... more bidders at or above the breakeven point.   Presumably if there's a chunk of below-breakeven bidders (the line bends above the lower price points), then maybe.

But the key is to 'sell' more bidders ...  (a) what resource/package people may loose out on, and (b) what's unusual about it. This also does a favor to dopies like me, who don't regularly check CP offerings.

Bruce Dunning said:

Now is the time for a few more of us to raise our bid to $27. If you do the resource will probably go down to $24 but time is running out. It is so close. Act quickly!

mission accomplished!

Bruce ... no apologies to me .... I just couldn't make the comment without inherently offending.  Your interest in the collection is what's most important ... and money saving too!