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1,118 - Bidding on Online Auctions

Get a good deal on an online auction. Learn more in this episode.

Slow dialog: 1:15
Explanations: 3:22
Fast dialog: 16:26

Jermaine: Wait! You shouldn’t bid on that auction right now. Wait until the last minute.

Bethany: This auction has a buy-it-now price of $25 and free shipping.

Jermaine: Don’t pay the buy-it-now price. The minimum bid on this item is $10 and the current bid is only $12.50. There’s no reserve, so if you wait to bid, you may snag it for a much lower price than $25.

Bethany: Okay, I guess I can wait, but why can’t I place a bid of $15 right now?

Jermaine: First of all, the bidding on this auction goes up by increments of 50-cents, so the next bid would be $13.00. You could place a maximum bid of $15.00, but someone might outbid you at any time.

Bethany: But couldn’t that happen anyway? Even if I wait until the last minute someone could sneak in and bid a higher price.

Jermaine: You mean they could snipe you? They could, but not if you snipe them back. It’s all in the timing.

Bethany: You seem to know a lot about online auctions.

Jermaine: That item you’re bidding on, guess who listed it?

Script by Dr. Lucy Tse

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Business English News 33 – Employment Practices

BusinessEnglishPod - 5 July 2015 - 1:47pm
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In today’s Business English News lesson, we look at developments in employment practices and how these effect job stability and opportunities for career development.

The world quietly passed a significant milestone recently – the global jobless total surpassed 200 million people, according to a study by the UN. To put that into perspective, that’s 30 million more without work than at the height of the recession in 2008. As CBC News reports, these figures could have grave implications for the future.

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Cartoon: Greek Referendum

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Greek debt cartoon

This cartoon by Chappatte from the International New York Times relates to Sunday's referendum in which Greeks are being asked to vote on whether to accept a proposal by the country's creditors for more austerity to keep aid flowing.

The cartoon shows a Greek man dressed in rags about to put his vote in the ballot box, above which is a sign with the words "Austerity or Bankruptcy?" He asks his wife, "Which form of poverty do we prefer?" Meanwhile, around the corner an EU official and IMF head Christine Lagarde watch to see what happens.

Whichever way Greece votes, the country will almost certainly end up even poorer than it is now. A 'yes' vote would mean more austerity, while a 'no' vote would be likely to lead to Grexit and bankrupt the country.

Click here to hear the word bankruptcy (/ˈbæŋ.krəpt.si/) pronounced.

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