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The Chip Board Archive 10

Re: Sniping question
In Response To: Re: Sniping question ()

That is another good point that, I think it was you, that mentioned earlier. The issue of if 2 people had the same max bid in. In that case it is correct that eBay will recognize the earliest bid. I think they even state somewhere, maybe in the bid history, that bids of the same price go to the earliest bid.

I recall though an issue where, a few months ago, someone was confused because they lost an auction by less than the minimum bid increment. In that case, it is my understanding, that the reason for that was that both bidders, in that situation, had earlier posted proxy bids. One was slightly larger than the other and won because of the excess bid over the last posted increment. Or something like that. The issue regarding bid increments is that if you issue a NEW bid than it has to be at least the minimum increment to be posted. Once that is done all bids execute at standard increments until one person wins. Even if one bidder had remaining bid less than another increment. Ie: a winner with only .03 or .05 etc.

That is one reason I like to put a few odd cents onto a bid that would be a standard or common increment. Say bidding $51 instead of 50 or 52.12 instead of 52. Or maybe 52.52 instead of 52.50. I don't have a particular way of deciding that but I do try and keep it a little unpredictable. It might not actually help that much but when you have someone that will hunt down your high bid by bidding incrementally 20 times to find it, Or someone who snipes at the last minute, it sometimes helps. If someone starts bidding against you on an item that stands at $25 and you have a bid of $52 they might bid up to $51 and when they see you still have it they might not know if you bid 52 or 75??? Thus could hit a point where they will quit. I will say though that the bid you put in should be something you consider to be fair and that you are willing to pay for an item.

Quickly, as for the issue of sniping, I usually hold back a little of what I would be willing to pay in case I get in a last minute bidding war and can be there to make another attempt. So that someone doesn't play the games I mention above and drive the price up unnecessarily. Say a shill or sabateur trying to boost auction prices. I hold back a little for a second chance opportunity but, for those sellers out there who might think it is unfair on the bidders part to do that, I am talking about a price that I still believe to be my fair price. If someone legitimately outbids me as was the case a few nights ago on a Sony VO-5850 3/4" VTR, so be it. I put in a $52 bid for a machine that was reported to be in good condition but was largely untested. For a machine that came out of a studio and could be 10 years old the discription of Turned ON Lights up is not enough to spend too much on. Knowing I might not be home in time for the close of the auction I placed an honest but maybe lowball bid. I might have gone 75 but lost because I didn't get home in time to place the second bid. My $52 bid lost to a buyer with $70 who I later found will take the machine, clean the heads, test it and relist it for about $400. OH Well. You Snooze You Loose. If you know you will be there when the auction ends you could hold a little back to make your own second chance snipe. There is a competitive edge to this and we all want the best possible deal. When you know you can put in your honest bid and someone will incrementally bid you up and, at the last second beat you by only $5 you sometimes wish you could have put in that last bid. Of course this only is an issue with those who do the incremental thing. As is the case with the VTR the other night I don't know if the buyer bid $75 or bid $175 in those last moments. He might have just known more of how much the machine is worth. Also since he is in the business of refurbishing such equipment he might figure that he could pay more than someone like myself and still make a profit because he can put the time, talent and work into increasing the value for a whole other market of buyers. I would just wonder though why this guy doesn't bid sooner on these things. Maybe he does, sort of like I do, and just browses the Going Going Gone ads when he bids. Sometimes we all don't have the time to read all the voluminous listings out there.

Messages In This Thread

Sniping question
Re: Sniping question
Uh............................
Re: Sniping question
Re: Sniping question
Re: Sniping question
WHAT I STILL CAN'T BELIEVE..
Re: WHAT I STILL CAN'T BELIEVE..
Re: Sniping question
Re: Sniping question
Re: Sniping question
Re: Sniping question
Re: Sniping question
bids won't get out of hand
Re: Which is why eBay should change the process...
Re: Which is why eBay should change the process...
Re: Sniping question

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