Thread: On-line auctions and sniping.

You snipe because you don't want the other bidder to be aware of you, nor do you want him to get caught up in 'bidding fever'. eBay calls a purchase a 'win'. This alone promotes a competition mentality, and some bidders let their ego go crazy and end up bidding an unrealistic price. Some Lie-Nielsen auctions, for example, end up being more than retail.

Greg

Originally Posted by gregoryq

some bidders let their ego go crazy and end up bidding an unrealistic price.

I understand that but I still don't see why that would motivate me to snipe. If I enter a bid that I consider to be the maximum I am prepared to pay for the item, anyone who bids above that maximum- at any stage - is welcome to the item in question. How does sniping help in this?

Col

Well, say the first guy bids $10.00 for a good used item that retailed new for $60.00. Personally, I would have a figure of 60% of new, minus shipping. So say I have in mind $25.00 for the item. If I bid the $25.00, the bid will automatically go to $11.00 and stay there. The first guy sees that he's been outbid, so he starts chasing the win, notching all the way up to $26.00. He wins.

Don't forget that many bidders will simply bid the opening bid price as a gambit, and then try to act as though its a live tit-for-tat auction. If you refuse to play that game, they are lulled into a false sense of security. Then, in the last seconds you take it away from them. Don't forget-its not only getting the item that counts, its getting it cheap.

Having said that, I have four items for sale right now. Not many bids, but many, many watchers. These are the guys who will fight it out in the last seconds, and good on them.

I have to go snipe something right now, as a matter of fact

Greg

OK - so you're playing it as a sport. Now I understand.

Yeah, sometimes. Often though its really just to prevent the less experienced bidders from getting carried away.

The other thing is trying to determine the equal regret price, which is sometimes difficult to know accurately beforehand.

One other benefit to sniping that I forgot to mention: Often a one week cooling off period will make me think twice, and I end up not bidding at all. You don't want to get in the habit of retracting too many bids, so waiting to bid may have other advantages besides price...

Greg

Col,

You're trying to use logic in an area where it doesn't seem to apply.

See my contribution here

http://www.woodworkforums.ubeaut.com...100#post233100

Originally Posted by gregoryq

You snipe because you don't want the other bidder to be aware of you.

Greg

Doesn't work if you're watching the counter at the bottom of the page. The counter logs everyone who initially looks at the item so you can gauge the popularity and you see everyone who either uses a sniping program or does it manually log in to watch in the last minutes. Just start watching the counter with about 10 mins left, it will start climbing at around 5. I've seen the counter climb by over 100 in the last mins of an auction. If there is a dramatic climb you know there's going to be some serious competition for the item. You have to then decide how much you want the item.

Originally Posted by Driver

I understand that but I still don't see why that would motivate me to snipe. If I enter a bid that I consider to be the maximum I am prepared to pay for the item, anyone who bids above that maximum- at any stage - is welcome to the item in question. How does sniping help in this?

Col

Sniping is for those who are ignorant enough to think they're being sneaky. There are so many people that think they're sniping that it comes back around to he who pays most wins.

On popular items sniping is a waste of time. On other items you may hear people brag about sniping but in reality not many or no one else wanted the item.

Originally Posted by Driver

I lost the other but was then offered a so-called second chance to buy the item for the maximum price I had entered. I willingly bought it because I was prepared to pay the price I had bid.

Any comments? Any advice?

Col

G'Day Col,
That's what I thought when I've bid on a couple of Items.
I got 'pushed' up and the "Winner" was the minimum incriment more than I was.
HOWEVER,
The item comes up quite often.
I'll bid the Minimum anount when I'm looking to purchase ....again.
It was for some Shock Absorbers.
My 2nd chance offer was cheaper than 'Shop' price;
but the Principal of the thing [or lack of] which Irked me

The other thing which Irkes me is some of the ABSOLUTE Trash that is FLOGGED off.
Some cannot even give a description of the item, "Other than what is in the Photo",
I'd say posted direct from some 'Sweat Shop' factory to "Winner"
OR should I say "Looser"
eg
"New" Millers Falls tools, they stink.
I mean they DO STINK, they smell of Rat's Urine :eek: :mad:

Originally Posted by Toolin Around

Sniping is for those who are ignorant enough to think they're being sneaky. There are so many people that think they're sniping that it comes back around to he who pays most wins.

On popular items sniping is a waste of time. On other items you may hear people brag about sniping but in reality not many or no one else wanted the item.

Good morning to you too, tooling around. A word: I posted about the merits of sniping, real or imagined, then you effectively call me ignorant. Kindly watch your manners.

Warm Regards
Greg

Someone needs a hug

E-bay is not an 'auction', because of the time limit. Many on-line auctions pages have an 'auto-extend' if there is a bid in the last 30 seconds or so, which creates a true auction. I use an automatic sniper mainly because I cannot guarentee if I can be present at the auction's close. I put my maximum bid in, and see what happens. Avoids that rush to the head too. I have bought many items for very good prices, using the sniper. There are no ethics involved IMO, just choice.

I think posting a bid before the last frantic few minutes is pretty pointless, unless you cant be on line at the close or its a sort of ambit bid where you don't really care.

Remember there are an awful lot of idiots in the world. Your early bid may just make of one them up the ante, whereas he may not have been in at the kill.

Most people get all emotive when bidding, they seem to take it as some sort of contest - like property auctions. You're wise to have a top limit.

I always think that there's always a second chance, the item or similar will come up again.

I've done very well on Ebay over the last 6 months - I'll show my restored set of planes when I finish them, circa $150 - but I would have either lost or retired from 95% of auctions. It does take a lot of research and time.

I'm also noticing that as EPay becomes more widely used, fraud is growing, particularly on bigger ticket items. Like most things, to get a jump on the pack, research, research, research.

Finally, beware the frieght and packaging. On small value items, this impost often brings the total costs up to RRP. Some merchants also seem to make their margin, not on the item, but on the P&P.

Regardless. I think its a great resource and will eventrually change the face of retail.

Very last thought. ALWAYS search on like items to see what the past average winning bid has been.