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Is there a sniping app for Great Collections Auctions
gypsylea
Posts: 193 ✭✭
eBay auctions can be automatically set up to enter a last second bid by applications such as Auction Sniper, eSnipe and perhaps others. Anything similar for GC?
Collector since adolescent days in the early 1960's. Mostly inactive now, but I enjoy coin periodicals and books and coin shows as health permits.
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Hope not.
Too bad. It's the reason I don't buy much on GC, as much as I admire Ian and his effort.
I can snipe on ebay. I can set up a proxy bid on Heritage. I don't believe broadcasting my bid well in advance has any upside.
Lance.
Thanks for the discussion !!!
Always loved sniping on ebay...I do it manually...Feels great to hit the button with 3/4 seconds to spare and WIN!!!
Cheers, RickO
That would take the fun out of it.
I hope not. Snipping is one of the many things that make me dislike eBay. If you are lose a lot, then lose it by a decent increment, not a stupid cent or nickel or what ever it takes on stupid eBay.
There used to be a bid wall where the increment was 25 cents. You could leave a bid $10,000 bid "on the book" and some joker could come in on the day of the sale and say,"and a quarter," and win it for $10,000.25. Selling somebody out for that leaves a bad taste in your mouth. Fortunately the store finally modified its bidding policy.
I guess the discussion of sniping in general would come up, though that was not my intention. I have never understood the negative feelings the practice engenders. I have done it manually and later with software on a PC and now apps on my tablet since I first discovered eBay in the 1990's. Took me a week or two to realize that the best approach was to figure out your real number, the most you are willing to pay including shipping, and enter that. Took me another week or two to figure out that the best time to enter that number was as close to the end as possible. Within a matter of months, software was available to let you submit bids automatically, but you had to have your computer on. Now, with the cloud, you don't even have to do that. I usually set my bids a couple of days in advance of the closing
Most importantly, I never set a bid based on what anyone else might have entered. I don't care. Sometimes, by the time the auction is close to ending, my maximum bid will have already been eclipsed and the app won't even submit my bid. I won one auction for an item (not a coin) this weekend for about $275. Maybe the underbidder thought I beat him by a few bucks, but my actual maximum was in excess of $350. I won another item for a little under $175, and in that case my maximum was only $180. And I was the underbidder on two other items. I entered all these buds in my snipe app Thursday and they got placed a second or two before the auctions ended on Saturday and Sunday.
Submitting your real number early is just an open invitation to being "run up.' It just makes no sense to me.
Aside from that, the Sunday night ending on GC is not a feasible time to be sitting at my computer or logging on from my tablet. Too bad, they have some nice looking coins, but so does eBay.
I do not understand this - if you bid $500 you can still win it at $30, if that is current bid and you are high.
I'd rather not show my hand. I.e., why spike interest in the lot and give others time to reconsider their upper limit?
That's the whole point of sniping, right?
Lance.
I think that sniping manually within the last ten seconds is just as effective as a pre-programed app that is already set up to do it in the last one or two seconds.
“I may not believe in myself but I believe in what I’m doing” ~Jimmy Page~
My Full Walker Registry Set (1916-1947)
https://www.ngccoin.com/registry/competitive-sets/16292/
So anyone that has a bid on a day before the close is showing their hand? Not all lots are won with late bids.
I would be interested in finding out what percentage of lots close with no bids during the last 24 hours - I suspect it is over 20%.
Yes. If you place an early bid you are adding interest in the lot. Who is not at least curious about a lot with many bidders?
Further, if your high bid frustrates another bidder who continues to try to top yours the price is likely to swell.
Sorry...I don't mean to be pedantic. But this is not difficult to grasp. If you don't get sniping then you won't understand.
As for lots that close with no bids during the last 24 hours...I don't see your point. If everyone thinks the lot is crap or not worth it what's that got to do with sniping?
Lance.
My point is, if you set a price you are happy to win at, it should not matter if you win it at that price or a bid or 2 lower - if the price goes over that, then you will have to wait until another comes along.
I see no reason not to bid in an auction if you are 'unable to snipe'
I get that there are plenty of collectors...many here I admire...who feel that they should simply place their highest bids early and walk away. Either they win or lose.
I don't disrespect them or feel they should bid otherwise.
But if you want to talk about winning strategies then it should be obvious you should delay that top bid until the last moment. There is absolutely no financial benefit to placing it early and often it will hurt.
I am not saying if I cannot snipe I will not bid. I have cherrypicked GC without sniping and been very happy about it. But I won't engage in a bidding contest.
Lance.
Lance, I agree with you 100%. But I was perplexed as to why you would give away a fool proof winning strategy. So I asked Mrs. Hydrant; Why would he do that? Her answer? " Because he's a really nice guy." She's right. You are a really nice guy. I owe you one for something really nice you did for me. I'm sure you don't even remember what it was. I'll make it up to you. You are a nice guy. Thanks.
I agree with Lance, 100%. Why show an interest in a coin in advance. You are there to win the coin, not play a game of "honor bidding". It is true that if you have a max you are willing to pay for the coin and you place that bid, you may win it for far less, but you may also create a bidding frenzy. You may notice that on a lot of coin auctions on ebay, there might be 30 bids in small increments that drive the price up previous to the last day of the auction. By waiting till the closing moments of the auction, you will truly find the amount people are willing to pay and either win or lose, but with a greater chance of winning. Just my opinion. Also, merrely having several people "watching" an item can cause a bidding frenzy. Interesting collection of thoughts on this matter.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
I don't know if any of you have participated in david lawrence auctions. If you try and snipe it will add time to the auction. A couple of minutes or so. As for GC is wouldn't know.
........I have a social life and plans on weekends I can't just wait around and manually snipe.
Ditto
Coin collectors with social lives?
Fake news
I am reading some of these posts as saying "sorry, if I can't get it for pennies on the dollar I'm not interested."
You are only "showing your hand" by bidding early if someone else bids over you, then retracts their bid.
If you can't sit around to snipe manually then just put in a bid, if you are outbid then oh well, it sold for more than you were willing to pay but at least you gave it a shot.
Collector, occasional seller
What I object to is getting out bid by a penny or a nickel on any bid from a few houndred dollars to thousands. Legitimate auctions houses do not selll their customers out for pennies.
Each auction venue has a slightly different set of rules on how you may bid; bid increments, cut bids, proxy bids, automated snipe bids, manual snipe bids. If you want to participate, then you should understand the various rules and use them to your advantage to acquire the most for the least amount $. If you don't care about the cost, then bid early and bid high
Not entirely true. If the end of an auction is coming up and you are high bidder most auction houses will allow you to enter a higher amount for basically bid insurance. If you enter the next increment plus a dollar and someone else adds a bid you will beat it by a dollar...... assuming it ends there
11.5$ Southern Dollars, The little “Big Easy” set
It has been my experience that those instances are rare at the major houses. I once won a lot for $101 from a mail blid sale over a $100 bid. This was from the pre Internet days. That is the only time it has happened like that for me.
You can place bids for any amount at Ebay and GC as long as that bid is greater than the current bid by at least one increment.
For HA you can do the same prior to the live auction, but during the live portion you can only bid on increment or use one cut bid.
For SB you can only bid on increment prior to the live auction if using the website platform.
Although it appears you can place a cut bid with them maybe via phone, fax or email. Not sure how that works but prior to the live auction one of my bids was exceeded by the cut amount. During the live portion of the auction I think you have to stay on increment or use one cut bid, unless you jump bid the amount to be some magical number with 8 digits including the juice.
Coin collectors with social lives?
Fake news!
Ok - called my bluff......busy career??
I have won many a coin while out on my boat and didn't even know it, thanks to snipping. I love it! I am with Lance on this one and if GC had that as an option, I would actually shop (snipe) there.