What is sniping?
Counselor
Posts: 1,861 ✭✭✭
So what is sniping? I know it has something to do with Ebay bidding and its probably why I lose a lot of bids at the last second by $1.00 but I don't know how to do it. Any info will be appreciated.
Bob
Bob
0
Comments
All sniping does is place the bid for you right before the end of the auction, with a dual purpose... to not allow your high bid to be run up by an underbidder, and to actually place the bid for you so you do not have to physically time it and be there at the end of the auction.
The best possible example of how snipe bidding can benefit a buyer is... say you are willing to pay $100 for a particular item. Say you enter your $100 high bid when the 7 day auction has 6 more days to go, and it opened at .99. You are the high bidder at .99, and during the next 6 days, others come along and look at the item and decide to enter a bid. They enter 5.00 and are told they are outbid, so they enter 10.00 and again are told they are outbid. They aren't really serious bidders since they are entering mooch bids, but what they are doing is drawing attention to the auction, while at the same time, running up your bid. Say they enter a 3rd bid now of $20.00, they are again outbid, but now the auction shows 4 bids and it's already at 20.50. Some other schmoes come along and do the same thing with more mooch bids, runs your bid up to $68. Now, there's a ton of attention on the auction, as it's an item that makes someone else want it more since other people also want it, where if you hadn't entered that $100 up front, the mooches would have only bid once to become high bidder, and it would probably go into the final 24 hours with 4 or 5 bids at around $25 - not as exciting of an auction. If no one else except you snipes, it's yours for the next highest bid increment over the current high bidder, who is a mooch bidder, so they probably topped their bid at $30, so you'd win for $30.50. If there was another sniper, you would simply be going head to head with their snipe, whoever bid the highest wins it.
Auction Sniper
-Josh