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The Chip Board Archive 09

Re: I agree 110%
In Response To: I agree 110% ()

Robert,

Very good point that I think many have made and that I agree with 100%.

The people who get sniped by one penny feel somehow cheated by the snipper. Whether it is manually done or by software.

Why, because they didn't truly bid the maximum they would be willing to pay. To the penny.

Seems a good way to beat the sniper is to make your maximum bid and arbitray number.

Let's say you have a maximum bid of $10. the sniper makes his $10.50 during the last minute. he has shown his hand. He is going to continue to ourbid you all that last minute to either win or he will give up if it is more than he is willing to pay.

The software will do the same but having it keep you from rebidding if it can catch the one extra bid at the last 5 seconds.

So what happens if you bid say instead of $11 you bid $11.03 instead. Or 11.49 instead.

That sniping program will be placing a bid at the last 5 seconds but guess what will likely by. Very likely it is going to be $11.01 unless the sniper is as crafty as you are trying to be.

The bid is placed at 5 seconda left with no time to rebid.

You end up winning the auction because you played it smart.

Now the likelyhood of you being sniped has decreased by a lot. Just for beating the sniper at his own game.

Of course this means you bave to be there to place that anti-snipe bid. But, You were already there anyway. And even better you don't have to trade bids back in forth because of some 5 minute rule.

Rick G.

Messages In This Thread

Why the 5 Minute Rule Is not a good idea
Re: Why the 5 Minute Rule Is not a good idea
Re: Why the 5 Minute Rule Is not a good idea
I agree 110%
Re: I agree 110%
Re: Why the 5 Minute Rule Is not a good idea
Re: Why the 5 Minute Rule Is not a good idea
Re: Why the 5 Minute Rule IS a good idea
Re: Why the 5 Minute Rule IS a good idea
Re: Why the 5 Minute Rule IS a good idea
Re: Why the 5 Minute Rule IS a good idea
Re: Why the 5 Minute Rule IS a good idea
Re: Why the 5 Minute Rule IS a good idea
Mellow Out, Pete rofl
Re: Take a Lude Dude, Pete rofl
Hey, lets do a scientific experiment
Re: Hey, lets do a scientific experiment
Re: Hey, lets do a scientific experiment

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