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Re: Bidding & Snipers

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  • keith2draw
    When the snipe programs first started coming out maybe 5-6 years ago, some folks were complaining that they were dishonest or unfair. I completely disagree. As
    Message 1 of 4 , Aug 25, 2007
      When the snipe programs first started coming out maybe 5-6 years ago, some folks were
      complaining that they were dishonest or unfair. I completely disagree.

      As I see it, there are two types of auctions. Traditional ones where people keep bidding
      until everyone has gone as high as they are willing to bid. The highest bidder wins.

      ...and timed auctions, where there is a set time limit (a week, for instance). The rules state
      that you have a week to place a bid...and it doesn't matter if you bid in the first second or
      the last...as long as you make the deadline. It doesn't make any sense at all to bid early
      though. When there is a bidding war going back and forth between two or more parties,
      it's an obvious sign of inexperienced ebayers...they are perhaps used to the traditional
      auctions where that is the way to bid.

      But with online auctions, the secret is getting in your high bid at the last second. Why, you
      may ask, do you even have the auction listed for a whole week then? That's so that you can
      attract the attention of as many people as possible. Over the course of the week, you hope
      that a dozen or more people mark the auction as 'watched' so that they can participate
      near the end.

      As a seller (I've sold over 2,000 items on ebay) I like both kinds of bidders. I love when a
      bidding war unfolds...but I also love the excitement of a last minute explosion of bids.
      Ebay is extremely addictive!

      Any one who thinks the custom of last second bidding is unfair is just experiencing "sour
      grapes" in my opinion.

      Keith
    • Karen Cotter
      ... just experiencing sour ... Keith has absolutely hit the nail squarely on the head vis a vis this subject. Sniping is the only way to win a desireable
      Message 2 of 4 , Aug 25, 2007
        >
        > Any one who thinks the custom of last second bidding is unfair is
        just experiencing "sour
        > grapes" in my opinion.
        >
        > Keith


        Keith has absolutely hit the nail squarely on the head vis a vis this
        subject. Sniping is the only way to win a desireable item on eBay and
        whether you use a program or bid in person there are other things to
        consider in placing a bid. I long ago bookmarked the link (it may no
        longer exist in eBay's updated version) to all buyer's individual
        completed auctions. About 15 minutes before an auction ends, I look at
        the high bidder's past wins and see what he/she is willing to pay for a
        similar item so I have an idea of what their proxy* is. Then, when I
        snipe, if I am willing to spend a similar amount, I go even higher with
        my bid, which I place no more than 5 seconds before the auction closes.

        *a proxy is the high bid place by a bidder to cover future increased
        bids by potential other bidders, to the max which the first bidder is
        willing to pay, which does not show.

        I almost never lose an item. Bidding is a science, just like playing
        poker, and it is foolish to place bids early on. You will be outbid,
        unquestionably and only drive the ending price upward.

        Like Keith, I find the bidding strategy exciting....one naif wrote on
        an eBay board some years ago, "Bidding is so unfair! I think all the
        auctions should be extended 10 minutes so we can all get our bids in!"
        Obviously someone who does not "get it"!
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