Subject:
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Re: $2,137.00
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Newsgroups:
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lugnet.market.theory
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Date:
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Sun, 14 Apr 2002 05:11:49 GMT
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Viewed:
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1312 times
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William R Ward wrote:
>
> "Pedro Silva" <el_gordo@netc.pt> writes:
> > In lugnet.lego.direct, Frank Filz writes:
> > > If you look carefully, you will see that the higher bids are older, and
> > > thus were "proxy" bids (where you bid what you really think you want to
> > > pay for the item, then the system submits the lowest possible bid for
> > > you, and then automatically ups your bid as people come along later and
> > > attempt to outbid you). • [...]
> > > Now I have upped my bid even when I do hold the high bid, when I decide
> > > my current high bid isn't really the highest I'm willing to bid.
> >
> > Most convenient, the whole system. Does it work as intended, never creating
> > any sort of issues?
>
> It tends to drive up the final price, in my opinion. I think it's
> better to wait until the last minute (or in some cases, the last 10
> seconds) of an auction before submitting your true highest bid...
Of course if more people waited until the last minute to bid, prices
overall would be lower for a couple reasons:
- no bidding wars
- people would forget to check the auction
On the other hand, if two people really want the item, and bid their
true max, even at the last minute, the price will still be high.
Of course an early bid can also result in a lower maximum price. Several
folks have mentioned they just don't bother to compete with me, so if I
bid early, then one person who would bid something close to my maximum
is out of the picture.
I bid early largely because I can't afford the time to play the last
minute bidding wars. I've missed out on items (or at least seen them go
for less than I would have paid for them) because I either just had a
place holder bid and intended to check back later, or just didn't bid my
true maximum.
What really amused me once was someone who complained about people who
didn't put in their true maximum thus somehow screwing up his sniping.
Or maybe it was that he was saying in response to sniping, bid your
absolute true maximum. In any case, I got the impression he felt he
should be the only one putting in bids at the last minute so he could
get items cheap or something.
Frank
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Message has 1 Reply:
 | | Re: $2,137.00
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| (...) Again, you don't need to take the time, there are technologies that will snipe FOR you without you needing to do more than just decide what your true maximum is and how close to auction end you want to cut it. No need to wait around to the (...) (22 years ago, 14-Apr-02, to lugnet.market.theory)
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Message is in Reply To:
| | Re: $2,137.00
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| (...) [...] (...) It tends to drive up the final price, in my opinion. I think it's better to wait until the last minute (or in some cases, the last 10 seconds) of an auction before submitting your true highest bid... --Bill. XFUT: (...) (22 years ago, 13-Apr-02, to lugnet.lego.direct, lugnet.market.theory)
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