What's the point of sniping

mbbiker

why do people snip? if you bid the max you are willing to pay you can't go wrong. How much do you money do you really save by sniping instead of putting in your max bid?

mdwoods

It's the thrill. mdwoods

Russ

It's all about not tipping your hand. Early bids generate interest in the auction and the momentum can frequently drive the price higher than if one lays in wait and pounces in the last seconds. Plus, it's good adrenalin.

Russ, NCNE

ARCO

Much is about auction psychology. Two bidders emotionally involved can easily take a price far higher than either was initially willing to pay. Put your max bid in early, someone out of bravado will win the coin just because they feel like winning, damn the costs, your out the coin that you really wanted and don't know when another will come along.

Wait until the last minute and put in a high bid. It stifles the bidders who want to win out of ego and lets no one know what you feel the coin is worth till the last second, before anyone else can react or attempt to win "just to win"

Tyler

airplanenut

Here is my reasoning... you get a better deal... example:

With 5 days left in the auction, I place my bid of $65 and the current high bid of $30. As the days progress, random people keep bumping up my bid by small increments, and I win at $63. Below my max... cool... but I could do better...

With 5 days left, the auction is still at $30... I don't place my bid. The random people may place their bids, but then they are winning, so they don't constantly up the bid by $1-$5 with each bid... with 5 seconds left, I bid my maximum and win the coin for $45 because the previous high bidder bid only the minimum necessary to take the winning seat- that is until i came along.

Does that make sense?

Jeremy

PS- it gets the adrenaline going!

IrishMike

mbbiker, its more about the thrill of the hunt than the coin. If you really want the coin, rather than a perceived bargain, you do just what you said. It really depends on how important the coin is to your collection. If it is a nice coin, one you want really badly, you take the time to evaluate it, price it and then decide to place your bid depending on how much its value is to you.

If you lose the coin, you have the satisfaction on knowing you did your research, and priced it according to your value. Sniping is more about winning then collecting.

ARCO

Good points Irish Mike. As a collector of barber halves I only feel satisfied with beautiful original pieces. Some dates are so elusive in nice original condition as to make the price almost moot. I know a collector of barber halves that collects them in VF30. He has never seen a beautiful original 1896-O barber half above VG10. We are talking about a $150.00 dollar coin in the retail price guides. I recently saw a perfect squeeker F-12 on Ebay last month. Instead of sniping, I put a bid of $260.00 (coin retails at $90.00) and figured I would win after people got tired bidding in the high $one hundred range. Nope...some bozo kept feeling out my bid by bidding over and over till the price was in the $240.00 range. Had I just sniped the thing I could have saved $60-$80 dollars.

Sniping is a way to snag a coin, and trying to remove the risk of letting another bidder win a coin that emotionally has hooked you, and them. If they see your bid is way up, then they are emboldened to keep bidding as they figure the coin is popular and desireable.

Perhaps for some collectors waiting years to find another specimen as nice doesn't seem appealing as spending a few extra bucks to bid high and snipe a coin when it finally becomes available. Besides, whatever the second highest bid shows after the auction ends is probably a good indication of what you could sell it for when you go to sell. On Ebay that is the difference of $1.00 -$5.00; peanuts when you are dying to add a quality specimen to your collection.

Just my three cents

Tyler

IrishMike

Good point Arco, there is some merit in sniping, just as there is sometimes merit in other opinions. I was trying to give the poster other thoughts. I am at the stage in my collecting mentality, that if I locate a coin I want, I either pay the piper, do some research and if I feel its too much of a price to pay I pass on it, knowing that I priced it the best way I know how. Seems like I spend more time researching than buying, but hey that is fun too.

gtstang

one reason for me to snipe is because i have been shill bidded before. i won 2 coins from the same seller when i was going to be out of town. i noticed the underbidder bid on all of this guy's auctions and only on his auctions but never won any. unless you know the seller to be honest (i hope most are) then snipe it if you can.
just my input.

tony

Twowood

If programed sniping takes hold, how does that serve the best interests of anyone but the sniper? Looks to me like it's bad news for everyone. Twowood

Loki

<< <i>If programed sniping takes hold, how does that serve the best interests of anyone but the sniper? Looks to me like it's bad news for everyone. Twowood >>

Not for sellers. More programmed sniping = increased winning bid amounts.

Patosh

Arco has it right. wait until the last 1 to 5 minutes ( depending on the speed of your connection) and bid your max say $300 to $400 and the usual sniper will have not anticipated this if you did not bid earlier.
Also I carry a grudge and if I see any of my known sniper's bidding on an auction I will bid it up early and often to test their mettle. It brings in the excitement i. e. I am not fond of sniper's-either on ebay or in the trees.

goyankeez

I think it depends on who you're bidding against. If that person has put in a high max bid that is close to the market value of the item, then sniping probably won't do a thing. You'll snipe with a figure below the market value, and then the other person outbids you with his max bid.

If the other person bids one increment at a time, then by sniping at the last minute you're able to prevent the other person to counter your bid. Of course, there may be another sniper who outbids both of you.

I think you can learn a lot by looking at the high bidder's feedback, items he bid on in the last month, and bid history. In fact it's a poker game. It's fun, and maybe you can save a few bucks. So, why not.

Twowood

What happens when 2,3 or 4 programed snipers bid for the same coin. Does connection speed determine the winner? Twowood

UncleJoe

It's not the last bidder, it's the highest bidder. If bid amounts are the same then it's the earliest bidder.

Joe.

keets

i can't figure what the thinking is of some members that sniping is more about the thrill and less about the coin. of course it's about the coin!!!! it's just a proven method of winning a coin at the lowest price. the mentality that says "if i really want a coin bid my max" is kind of ridiculous. as an example, why pay $200 for something i can get for $100 if i snipe? unless of course i enjoy paying more!!! not!!!

many times i have used the max bid strategy early in an auction only to see the price climb and my bid be passed, leaving me to consider a higher bid. waiting to snipe tends to keep the price lower. my perspective tells me that those who view sniping as a bad thing are generally sellers. for me, more often than not i need to be at an auction's close if i'm interested in winning. uh, if i'm really interested in the COIN.

al h.

mrpaseo

I like coins.

Someone told me loving them was bad....

So I just like them.

Ray

DCAMFranklin

To save money. To make money. All too often, making money on a coin has a lot more to do with what you paid for the coin, not what you were able to sell the coin for.

keets

To save money. To make money. All too often, making money on a coin has a lot more to do with what you paid for the coin, not what you were able to sell the coin for.

...........i gotta tell ya DCAM, that response has me lost!!!what exactly are you talking about?? perhaps you're on the wrong thread!!!

al h.

UncleJoe

DCAM, Got your message. (and I agree)

Joe.

gemseeker

Part of it is not showing your hand until the last second as others have mentioned. Also, it gives you the feeling of "snatching victory from the jaws of defeat". That in and of itself is a natural high.