ebay bidding question

ms71

A question I've never seen answered definitively, and I'd really like to know as there are several similar ebay lots I'd like to bid on.
As the second-high bidder, what is your standing (legally) if bidder #1 retracts? Does your bid, now high, become binding on you? It's important to me since there are several similar lots, all will be over $1000, that I'm interested in. I hesitate because: assume I bid my max price but it's only second-high (high bidder's proxy was higher). Now can I move on to another lot & forget about the first, or MIGHT I be holding the bag if the high bidder on the first lot later retracts? I know retraction is unlikely, but you never know.

gmarguli

Yes, according to eBay rules you are on the hook.

However, you could always retract any bids that this happens to. And as a seller, I probably wouldn't hold your bid to it if this happened to you and I could easily prove that you did bid on other lots after being outbid on mine. I assume most sellers would do similarly.

ms71

Thanks. I asked mainly because there were four similar lots, all with the same high bidder. I put in my high bid and jacked him up quite a few bucks on one of them. I was concerned that if I bid on a couple more, and his proxy on all of them was still high, he might look & get ticked off that it was the same guy who jacked him up on several lots. Then he could retract his bids & leave me holding the bag on all of them, when I only wanted one. Or if I did end up high on one lot, that might tick him off & cause him to retract on the others & leave me on the hook for several thousand bucks. All things considered, I think I'll leave it alone with just the one unsuccessful bid on the one lot. If I bid on another one, it'll be a snipe.

flaminio

This sort of situation is easily remedied by using the "bid group" feature available on most sniping services. You can program in any number of snipes, and the service will keep trying to snipe the item for you until you win one, and then cease. Thus, you're never on the hook for multiple items in case of retractions.

An example of a sniping service that offers bid groups is PhantomBidder.

ms71

Thanks-I'll check that out. I've never used a sniping service, always put them in myself with 10-12 seconds left. That looks like the way to go (but I am a little paranoid about turning over my name & password to a faceless service).

wayneherndon

One thing to keep in mind is that when someone retracts you get it at the next increment over the third highest bidder. This can often be very low. Say, for example someone came along and bid a token $100 to mark the auction. Then, the current high bidder put in a $1500 proxy. You come along and bid $1000, then $1100 and finally $1200, still below the proxy and the bidding stands at $1225 (or whatever the appropriate increment is). The coins has already been run up quite a bit and no one else bids. Then, if the guy with the proxy retracts, you will now be high bidder at $105. Obviously this is hypothetical and actual bidding practices likely differ in your auctions. Still, it is not unusual to have two bidders run up an auction and the third be well back in the pack. In fact, some unscrupulous buyers use an alternative ID to "shill" low start, no reserve auctions in this very manner. That's another reason they are very risky.

WH

ms71

Hadn't thought of that either, it'd be a nice surprise if the top bidder retracted & you became high at a very low bid. A lot to consider if you're going to have several non-high bids out there at the same time, if they're all substantial.

Neptune

Yes, if high bidder retracts, you would 'then' be high bidder and bound by eBay policy. However, if the y back out after auction ends, you are not obligated. Good question - never thought about that happening before - and it doesn't happen very often. One thing you can do, if worried, is to check the high bidders 'previous' retractions - listed in their feedback - that will tell you their retraction history. You can also tell by their feedback if they appear to be the type that would retract. Retraction is frowned upon by eBay, and I think you have to give a reason? and it goes "on your record", so most 'good' eBay boys and girls will not retract on a regular basis.

mr1931S

An interesting thing i found out recently is that in a Dutch auction if you are a winning bidder (see winning bidders list)and the number of lots left available for you to buy is less than the number of lots you have bid on,you may,but are not obligated to buy ANY of the lots you have bid on.In this situation, the seller cannot fulfill your order completely so you don't have to buy any part of the order.

For example,if you bid on 40 lots out of 100 total offered and are a winning bidder but only 35 lots remain after higher priority bids are satisfied,according to ebay rules you don't have to buy even a single lot.

Outhaul

On eBay, your bid is never binding. If bidder #1 retracts then, aparently, his bid wasn't binding so why should yours be? Also, what happens if you're outbid and find the same item in another auction with a BIN that you feel comfortable with? You were outbid so you went shopping elsewhere.

I've had this happen to me. I was outbid so I found the item I wanted elsewhere. Bidder #1 bidder retracted and the seller felt I was now on the hook...I felt different. I retracted MY bid and said seeya! As far as I'm concerned, once I'm outbid I'm off the hook.

Keep in mind, though...too many retractions will get you NARU'd. Now they have specific reasons for a retraction in a drop-down menu. For any other reason not on the menu you must e-mail the seller and ask if they will cancel your bid for reason stated.

Cheers,

Bob