Re: Why snipe at all? - Saab General Bulletin Board - Saabnet.com
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Re: Why snipe at all?
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Posted by TML [Email] (#2212) [Profile/Gallery] (more from TML) on Mon, 21 Jun 2010 12:41:07 Share Post by Email
In Reply to: Why snipe at all?, Larry West [Profile/Gallery] , Mon, 21 Jun 2010 08:38:30
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The problem with that philosophy is that people bidding on ebay are frickin' retards. If everyone entered their max bid as their first or second bid, then it would work great. However, people don't like to lose for some reason, and will increase their bid incrementally as many times as it takes to get over your bid. This has the effect of raising the max price you would eventually pay, or more often make it so you can never buy the item. As as example, if you were watching an item currently at $50 that you valued at $100. If you wait until just before the end and put in your bid of $100, you'll probably get it for $75 because no one has a chance to revise their max bid. If you enter your $100 bid immediately, then you will see someone bid $75, then $80, then $85, etc until it's over $100 (this is all the same person bidding too, not competing bids). I've watched this happen time and time again. I don't understand the mentality (why were they only willing to pay $75 until they saw someone else was willing to pay more?), but there's no denying that it's commonplace. This will sometimes even cause the end price to go way above retail price of the item, if you get two or more such idiots competing against each other.

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