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The POWER of .01
piecesofme
Posts: 6,669 ✭✭✭
In reviewing my past transactions as a seller on eBay, I noticed what I guess one could call a trend. It was amazing how the hammer price on so many auctions ended in .01.
Like 173.01, 26.01, 442.01. It didnt matter the amount it ended for, bu the last 2 digits was .01.
I had some time on my hands, so I took a sample of 200 auctions. Amazingly, 118 of them ended in .01.
When you bid on something on eBay, or anywhere online I suppose, do you make your bid end in .01? Being that so many seem to, at least from my experiences as a seller on there, maybe a better way to win an auction if you really want to win it is to make it end in .02 LOL.
Like 173.01, 26.01, 442.01. It didnt matter the amount it ended for, bu the last 2 digits was .01.
I had some time on my hands, so I took a sample of 200 auctions. Amazingly, 118 of them ended in .01.
When you bid on something on eBay, or anywhere online I suppose, do you make your bid end in .01? Being that so many seem to, at least from my experiences as a seller on there, maybe a better way to win an auction if you really want to win it is to make it end in .02 LOL.
To forgive is to free a prisoner, and to discover that prisoner was you.
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Anytime I place a late, higher bid I always add a few more cents over the next required increment in hopes that the last second bidder will bid just the next increment. My extra pennies often keep me in the lead with no time for him to re-bid.
Give Me Liberty or Give Me Debt
In reviewing my past transactions as a seller on eBay, I noticed what I guess one could call a trend. It was amazing how the hammer price on so many auctions ended in .01.
Like 173.01, 26.01, 442.01. It didnt matter the amount it ended for, bu the last 2 digits was .01.
I had some time on my hands, so I took a sample of 200 auctions. Amazingly, 118 of them ended in .01.
When you bid on something on eBay, or anywhere online I suppose, do you make your bid end in .01? Being that so many seem to, at least from my experiences as a seller on there, maybe a better way to win an auction if you really want to win it is to make it end in .02 LOL.
The idea is to force other bidders into the next bid increment. Let's say the bid is at $125 and bid increment is $1. If my max is $125.01, then a snipe bid of $125.02 won't win. It would have to be $126.01 Pretty sure that's the logic behind it.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
Worry is the interest you pay on a debt you may not owe.
Good information, POM. In the future I'll be sure to add 2 cents to my bid.
Thanks PerryHall. In the future I'll be sure to add 3 cents to my bid
Good information, POM. In the future I'll be sure to add 2 cents to my bid.
Thanks PerryHall. In the future I'll be sure to add 3 cents to my bid
I was waiting for that.
Worry is the interest you pay on a debt you may not owe.
In reviewing my past transactions as a seller on eBay, I noticed what I guess one could call a trend. It was amazing how the hammer price on so many auctions ended in .01.
Like 173.01, 26.01, 442.01. It didnt matter the amount it ended for, bu the last 2 digits was .01.
I had some time on my hands, so I took a sample of 200 auctions. Amazingly, 118 of them ended in .01.
When you bid on something on eBay, or anywhere online I suppose, do you make your bid end in .01? Being that so many seem to, at least from my experiences as a seller on there, maybe a better way to win an auction if you really want to win it is to make it end in .02 LOL.
So Much for trade secrets......
If your going to snipe and item DIG Deep and go spend that extra penny.
If it's a coin I *really* want, I become a total spendthrift and go .19.
My Adolph A. Weinman signature
In reviewing my past transactions as a seller on eBay, I noticed what I guess one could call a trend. It was amazing how the hammer price on so many auctions ended in .01.
Like 173.01, 26.01, 442.01. It didnt matter the amount it ended for, bu the last 2 digits was .01.
I had some time on my hands, so I took a sample of 200 auctions. Amazingly, 118 of them ended in .01.
When you bid on something on eBay, or anywhere online I suppose, do you make your bid end in .01? Being that so many seem to, at least from my experiences as a seller on there, maybe a better way to win an auction if you really want to win it is to make it end in .02 LOL.
So Much for trade secrets......
If your going to snipe and item DIG Deep and go spend that extra penny.
I've been known to bid $1000 on a $100 item to secure winning it in the last second of an auction if I want it bad enough.
In reviewing my past transactions as a seller on eBay, I noticed what I guess one could call a trend. It was amazing how the hammer price on so many auctions ended in .01.
Like 173.01, 26.01, 442.01. It didnt matter the amount it ended for, bu the last 2 digits was .01.
I had some time on my hands, so I took a sample of 200 auctions. Amazingly, 118 of them ended in .01.
When you bid on something on eBay, or anywhere online I suppose, do you make your bid end in .01? Being that so many seem to, at least from my experiences as a seller on there, maybe a better way to win an auction if you really want to win it is to make it end in .02 LOL.
So Much for trade secrets......
If your going to snipe and item DIG Deep and go spend that extra penny.
I've been known to bid $1000 on a $100 item to secure winning it in the last second of an auction if I want it bad enough.
Dang! That sounds really risky to me. What would you do if you won it at close to your bid?
Worry is the interest you pay on a debt you may not owe.
In reviewing my past transactions as a seller on eBay, I noticed what I guess one could call a trend. It was amazing how the hammer price on so many auctions ended in .01.
Like 173.01, 26.01, 442.01. It didnt matter the amount it ended for, bu the last 2 digits was .01.
I had some time on my hands, so I took a sample of 200 auctions. Amazingly, 118 of them ended in .01.
When you bid on something on eBay, or anywhere online I suppose, do you make your bid end in .01? Being that so many seem to, at least from my experiences as a seller on there, maybe a better way to win an auction if you really want to win it is to make it end in .02 LOL.
So Much for trade secrets......
If your going to snipe and item DIG Deep and go spend that extra penny.
I've been known to bid $1000 on a $100 item to secure winning it in the last second of an auction if I want it bad enough.
Dang! That sounds really risky to me. What would you do if you won it at close to your bid?
I'll tell you when it happens.
If I win it for the insane bid, that means there was at least 1 other person that was willing to pay for it for that amount as well. If the other bidder wins, that's his baby to work out. Either way, a new market value is established for said item.
Otherwise, I've yet to do it where it didn't end up being right at about where market value was at that particular time.
Like I said, I only do it for key items that I want to add to the collection no matter what.
When I used to bid on ebay, for items that I really wanted, I would enter a nuclear bid in the last 3 to 5 seconds.... never lost an item I wanted. Cheers, RickO
I still do that and as POM indicated: winning bid would "end up being right at about where market value was at that particular time."
Not sure how my bid won when it was less that the next allowable minimum bid?
I won an auction last night with a snipe bid in the lsat 4 seconds that was only 2 cents higher than the other bidder had and had live bid it 30 minutes earlier.
Not sure how my bid won when it was less that the next allowable minimum bid?
Likely it was 2 cents higher than the other bidder's maximum bid, but at least one increment more than his bid as displayed near the close of the auction.
My Adolph A. Weinman signature
I start with .01 first bid, .02 second bid and so on till I figure out where their high bid is at....
I was playing around with this one bidder and ended up high bid (oopsie)
It was a mint 1998 W Proof One Quarter Ounce Gold Eagle with box, papers, all the bells and whistles.
I didn't have one in that size and Paid too much over spot, But Not much of a party foul.
Soon as gold gets back to $1500 oz, I'll be in good shape.
US $380.08 me winner
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US $315.02 me