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gwern comments on Open Thread, June 2-15, 2013 - Less Wrong Discussion
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If I were going to do that, I would simply have set a reserve price.
Not the same thing, surely? Submitting an N-1 bid causes the top bidder to pay effectively their bid... in effect turning a second-bid auction into an English auction as defined above. Setting a reserve price sets a floor that has no relationship to the top bidder's bid.
But sure, the fact that you didn't set a reserve price also suggests that you wouldn't take advantage of this loophole in your counterfactual second-bid auction.