#Jbidwatcher thinks auctions are ended software
#Jbidwatcher thinks auctions are ended plus

This is exactly what happens and exactly why you should still try to snipe auctions, especially since even on an item that is currently at (to keep with the example) $25 but is worth $100, the person placing the $25 bid generally will not put in a maximum autobid amount that much higher. I cannot think of any scenario in which a buyer is better off by entering the bid at any time except at the end.

#Jbidwatcher thinks auctions are ended plus

Auction ends and I win the item for $26.00 ($25 plus the increment at that level, which is $1.00). Then I enter my bid of $100, with 3 seconds left. After all, the item has been listed for a week and no-one seems interested. He is giddy with anticipation of getting the item for $25, thinking how lucky he is that no-one else is bidding. As of a few seconds before the end, 'Bidder X' is still the high bidder with a high bid of $25. Meanwhile, I 'forget about it' (as you suggest - and besides it's above my maximum), and Bidder X wins the auction for $102.50. Finally, he bids $102.50 ($100 plus $2.50, which is the bid increment at that level).

Bidder X then pokes around, makes more bids, keeps increasing his bid. I bid my maximum ($100) several days before the auction ends. He thinks it's like a traditional live auction (which it definitely is not). Bidder X has is willing to pay $125, but hopes to get it for less. Say there are only two people interested, myself and 'Bidder X'. Say there is an item for which I am willing to pay up to $100.

#Jbidwatcher thinks auctions are ended software

Just set up your sniping software and go about whatever else you have to do. A last second bid at the max amount you are willing to pay is generally a winning strategy on Ebay. If you place a bid early you may run into a nibbler who will increment their bid by small amounts until yours is surpassed. The Ebay system is far better in my opinion.ДЄnd yes I like the last second bid method. I hated it because you had no idea when bidding would be over. It was a giant pain in the neck for many reasons. I used to participate in another online auction system that extended bidding. What works in a live outcry auction is not necessarily a good idea for a world-spanning system with millions of users. The Ebay style actually works very well for an online system because it does not require participants to wait around at the end of the auction to see if there are any last minute bids, and to respond to those bids. There are many legitimate styles of auction. Madbrain wrote:The whole ebay auction system is flawed, IMO. It's interesting - but annoying in practice when you have to deal with other bidders running the price up. Will see if I can find the links to the behavioral research stuff. But, all they do is drive prices up for the other buyers, bidders. Thus, these bidders just tend to drive prices up in an auction. I personally don't get it - but some people don't know the value of the item to them - they just know that they are willing to pay more than the current bid. If the current bid is $10 - up from $9 - to some bidders they look at the $10 and make a decision based on that to bid $11. I don't have the links handy - but studies show that some bidders use the auction bids themselves to determine what their price is. The theory goes that some people don't bid knowing in advance what their max is. If there are no other bids, you get the item for $30.25, not $50. If someone else is willing to pay $30, and they bid $30, instead of seeing that the high bid is $30, they see instantly that someone else has outbid them and the high bit is $30.25. If nobody else bids, you get the item for $10.25, not $50. They see that the bid is now-I forget what the increment is-$10.25. If the auction is up to $10, and you are willing to pay $50, and you bid $50, nobody sees $50. But today, your high bid amount is not visible to other bidders. In Ye Olde Days when your bid was visible, which I think must be at least six or seven years ago, yes, 'sniping' was important. and forget about it until the auction has finished. I just bid the amount I am willing to pay at the time when I see the item. Nisiprius wrote:I completely fail to understand what advantage you supposedly gain from waiting until the last few seconds.