Online Auctions...random rant...

[securityboy]

So just a little "question" I've had for years but never asked...I have an odd affliction in that I like to watch online auctions for thing I would like (but very rarely bid because things "online" always go way to high). But here is my question...

Why do people bid on things when the auction still has days to go? Can't they see that all they are doing ammounts to bidding against themself, because the real action takes place in the last few moments of the auction? All it amounts to the, raising the "starting bid" against themself...

It is both funny/sad to see two/three bidders bidding back and forth for days just jacking the price up more and more...well what is funny is to then see a fourth person out bid them all in the last 2 seconds...

Seems people loose site of the fact that these auctions are time driven not activity driven...almost reverse of a "real" auction where the bidding starts at a certain time and ends when no one wants to bid anymore...where as online the bidding starts whenever and ends at a set time...I just can't see a single reason that would benifit the bidder by bidding early...

Sorry for this off subject rant...slow day at work today I guess...and this question has been rolling around in my head for a while...

 

[Nickle]

I usually put up a small bid, then bid higher shortly before it's over.

 

[Neptune Cat]

So just a little "question" I've had for years but never asked...I have an odd affliction in that I like to watch online auctions for thing I would like (but very rarely bid because things "online" always go way to high). But here is my question...

Why do people bid on things when the auction still has days to go? Can't they see that all they are doing ammounts to bidding against themself, because the real action takes place in the last few moments of the auction? All it amounts to the, raising the "starting bid" against themself...

It is both funny/sad to see two/three bidders bidding back and forth for days just jacking the price up more and more...well what is funny is to then see a fourth person out bid them all in the last 2 seconds...

Seems people loose site of the fact that these auctions are time driven not activity driven...almost reverse of a "real" auction where the bidding starts at a certain time and ends when no one wants to bid anymore...where as online the bidding starts whenever and ends at a set time...I just can't see a single reason that would benifit the bidder by bidding early...

Sorry for this off subject rant...slow day at work today I guess...and this question has been rolling around in my head for a while...

I have wondered the same thing many times. I'm the one who waits until the last second to bid on something if I want it bad enough.

I've learned that auctions that end on a Sunday night at 9:00 will fetch the most money. I would guess it's because everyone is sitting at thier computers and biddin away for items ending that night. I have often felt guilty about some of the things I've taken away from people who have been bidding for days. Yet I get upset with them because they just drive up the price and they aren't going to get the item anyway.

 

[JonJ]

I wait and snipe.

 

[Len-2A Training]

I wait and snipe.

+1

 

[Bruce for NH State Rep]

Some on-line auctions now have an anti-snipe feature where if a bid is made in the closing x-number of seconds, the bidding is extended for a preset number of minutes to allow other bidders to counter the last-second snipe attempt.

If I find something I want, I bid what I'm willing to pay as my max bid, regardless of how much tiem is left on the item, and if someone goes higher, so be it.

But, I guess if I reeeeeeeally wanted something, yeah, I'd snipe.

 

[joe6486]

OK, I'm going to offer some help here:

www.auctionsniper.com

It automatically places a bid a few seconds before the auction expires. It works extremely well.

Bonus: if I refer you, I get a free snipe, and so do you. So if you don't mind, use my email as a referral when you sign up: [email protected] .

Just promise you won't bid against me.

 

[Lugnut]

I'm not an expert but I have an idea how ebay works. Say an item had a $100 minimum bid. If you bid up to a max of $150 for the item and you were the first bidder the high bid would be displayed at only $100 UNTIL the next bid! If someone then bid $110, your bid would be INSTANTLY bumped to $115 (if the bid increment was $5). If someone came in and then bid at $125, your bid would instatly bump up to $130. Make sense? Now if someone was to bid at $175 (because they don't know what YOUR bid was) that person would be the new bid winner at $155 and you'd be out. I think they have a name for this type of bidding but that explains why people make bids in advance.....

You bid the max you are willing to pay and don't have to "wait" around for the deadline. Sniping is another issue.

I've made bids on items I wanted and wouldn't be in town when it expired.

 

[Nickle]

GunBroker is set up as anti-snipe. Of course, there aren't any real deals on GunBroker, it's really an outlet for Dealers. I've bought exactly 1 item there, and it was the same price, but less work than buying from Brownell's. And as we all know, Brownell's isn't real cheap.

eBay on the other hand, I have bought a fair amount of stuff through.

 

[Producer]

I rarely snipe. unless its for a really low priced item.

I just put down the top price that I am willing to pay. Usually an odd number so $1501 does not beat me. ($1523.50 will be my hidden bid).

So I do bid days before an auction. Usually, if I lose I say why did he pay that much for the piece of crap?

 

[JonJ]

I think they have a name for this type of bidding but that explains why people make bids in advance.....

You bid the max you are willing to pay and don't have to "wait" around for the deadline. Sniping is another issue.

I've made bids on items I wanted and wouldn't be in town when it expired.

Proxy bids.
All of the auction sites are "testosterone based" competitions. They thrive on bid wars where people don't use their heads because they don't want to "lose" the auction. That's why they say you "won" the auction.

 

[hminsky]

There was a study just done that showed that sniping at the last moment gets the lowest price for auctions. I forget where I read this, it was in the papers a few days ago.

 

[dreppucci007]

I'll admit it...I snipe. Many times too, I throw out some weird figure such as if I were hoping to get it for $150.00, I would throw a bid of $152.51, as the potential next bid after mine if there were another sniper would be either $150.00 or even $150.50!

 

[jwilson]

I hate it when you get out bid on a one of a kind item or last one and three day later you get a second chance offer.

last one my ass