Strategy for bidding auction house rules.

akuracy503

Tried searching old posts and could not come up with an answer to satisfy my curiosity.

How do you approach bidding in a major internet auction house rule such as Mile High, REA, Huggins Scott etc, standard close with the 30 minute rule 19.5% premium.
Do you try and bid up to the max fair amount of the item before overtime bidding begins?

Tricks, tips and opinions would be appreciated.

Probstein123

I bid my max early and sit and hope the bid sticks....
otherwise I may overpay....

earlycalguy

I bid my max early and sit and hope the bid sticks....
otherwise I may overpay....


same here. put my max price in and if I win great, if not it was too much money for me

Dpeck100

Rick are you allowed to snipe in those?

akuracy503

No sniping in these auctions, once standard open bid time runs out all those who have placed a bid can continue bidding against each other in "overtime" mode.
In overtime mode - once each new bid is placed there is a 30 minute counter that allows those in contention to counter bid, each subsequent counter bid resets the 30 minute clock and this goes on until no more bids are placed thus running out the 30 minute clock and officially ending the auction.

Strategically I'm assuming getting your bid in at that sweet spot where following bid increments are increased (i.e. $50 increments jumps to $100) is key?

This will be my first serious attempt at bidding up so would like some suggestions.

Thanks!

Dpeck100

Very interesting.

The snipe bid has been heavily debated. In a true auction these do you no good like you are referencing.



If you are willing to win the card in an EBAY auction and price does not matter the SNIPE is the way to go. If you want to win the rare auction and do not want to spend more then you planned too entering your bid and leaving it like you did is the way to go.


I have never sniped and have no interest in doing so.

Probstein123

bidnapper.com doesn't work on the major auction houses...

grote15

I put in a token bid early on and then wait till extended time...if the item isn't higher than what I'd pay with juice, I will bid my max then, as the pool of potential bidders is restricted to just those who have placed bids at that point and in many cases, that next increment is a fairly steep jump.

jaderock

I'm the same as others....after reviewing and calculating what's in the lot (or description of the item), I factor in the premium and bid my max right away.

Huggins & Scott recently tried to pull a fast one as well...it tried to change the OT rules (stating "a bid in one listing allows that bidder to bid on ANY listing during OT"), but the overall customer vote was "heck no".