New eBay bidding change going on: last 60 seconds..
AUandAG
Posts: 25,048 ✭✭✭✭✭
A bid in the last 60 seconds extends the bidding for another 60 seconds. Auction only ends after 60 seconds passes without another bid.
Interesting to see how this goes.
Might be a really good reason to make sure your auction ends when most people are at home. Say 6 to 7pm pacific coast time.
Will it generate more bids and higher end pricing. I think it might well do exactly this.
Many times I've placed a bid, but maybe not my highest bid, only to lose in the last seconds and when I'm not available to check and perhaps consider upping my bid a bit more. I'm sure that most of you have experienced something like this. Seller ending a listing at an odd time is probably not in seller's best interest.
Got the notification of this new bidding process this a.m.
Be well,
bob :smile 
Comments
I just throw my max and hope.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
If true, it's been a long time coming. Soft closes are IMHO the way all auctions should be run. The winner should be the person selling to pay more, but the person with the fastest internet.
All comments reflect the opinion of the author, even when irrefutably accurate.
My quick research indicates this is just a test program in cards. Could you share the email?
All comments reflect the opinion of the author, even when irrefutably accurate.
They're also extending offer times.
https://www.ebay.com/help/buying/bidding/bidding?id=4003
It's just being tested in certain categories
All comments reflect the opinion of the author, even when irrefutably accurate.
I'm glad to see that eBay finally figured out that allowing sniping is costing them and their sellers money.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
So is keeping a website, advertising, and only charging x in fees. It's the cost of business. The rules of a hard close auction are completely fair for all parties.
"But seek ye first the kingdom of God and His righteousness and all these things shall be added unto you" Matthew 6:33. Young fellow suffering from Bust Half fever.
BHNC #AN-10
JRCS #1606
He never said it wasn't fair.
All comments reflect the opinion of the author, even when irrefutably accurate.
As long as I get an outbid notice email within the 60 seconds (with time to open the app and check), this is long past due.
Ugh.
In honor of the memory of Cpl. Michael E. Thompson
"But seek ye first the kingdom of God and His righteousness and all these things shall be added unto you" Matthew 6:33. Young fellow suffering from Bust Half fever.
BHNC #AN-10
JRCS #1606
Good strategy. Protects you from emotion-driven, FOMO purchases.
Finally! If it's successful, hopefully, GC will do the same thing.
Member ANA, SPMC, SCNA, FUN, CONECA
This will put an end to sniping, which is probably a good thing. Sniping I don’t mind, so much, but what I do mind is when people use sniping programs that placed the bid with only one second left on the clock. That is annoying and give others no chance.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
How will this fare with esnipe or other snipping tools? Will it create some hic-ups and keep upping the bidding on itself every time a minute is added? hmmm I don't see this working as budget minded collectors will simply seek other avenues to buy. Can't squeeze anymore blood out of a turnup than what's in it! They'll lose money.....how stupid do they think.....they are?
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
They've probably left millions on the table by waiting this long to implement that policy. I'm betting it helps their bottom line in a very positive way...
Like the change....now if only they would revert their idiotic search filter changes.
Others HAD the chane when they bid!
Don't blame the sniper or sniper app
Do you blame you car for running out of gas?
Mike
My Indians
Dansco Set
Don't like the change but agree on the search filters
Mike
My Indians
Dansco Set
For decades I have thrived on 4 second snipes. Most are wins yet some toast me. Another 60 seconds... does not fit the plan.
Happy Shopping !
Good for sellers, not so good for snipers. The competitive nature of bidding will definitely increase profits for both sellers and ebay.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
Hardly an apt metaphor. I would blame myself for not adding gas. But when I add gas, I'm not playing beat the clock. (And soon, neither are you. )
All comments reflect the opinion of the author, even when irrefutably accurate.
Don't like it.
If you just bid the most you will pay, why does it matter if the person who wanted to pay more than you bids with 60 seconds left or 2 seconds? There's no time to bump the bid up again in the latter scenario.
If it is because you didn't have time to increase your bid, then you should have bid a higher amount in the first place.
First time I experienced this soft close was a dlrc auction, I normally dont bid on thier platform ,but some seated rarity was coming up, and I registered to bid. Auction went to close, and i thought I had it, only for it to open up and got bid higher, after three times of this, I said to heck with this and walked away.
Fortunately, years later the buyer consigned his collection to gc, and then I bid it all and won it for a decent price, it closed, it sold , it was mine. coin was even lovelier than I had hoped!!!
sniping programs only place their bids if the person inserted a max bid at least 1 bidding increment above the current high bid - how can you say it gives others no chance? Chance to do what, change their mind and increase what they wanted to bid?
I like GC better. You can still snipe, but you have to do it on your own without using a sniping app. I’m not necessarily against sniping..
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
As several people above have correctly said, this change is good for sellers and eBay, not good for snipers (whether with an app or just manually). I buy four figure coins from several auction companies. Some with a soft close, like Heritage, Stacks, and DLRC, and a LOT of coins from another with a hard close, GC. There’s absolutely no doubt that I’ve saved thousands of dollars over the last 12 years or so by successfully sniping on GC (and broken other bidders hearts at the same time).
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
Personally i believe this will lose business for Ebay and it’s sellers…
The “Draw” as it were for buying on Ebay is the thrill of winning an auction with a snipe in the last possible second…
I will still snipe, but now others will have more time to outbid me. Oh well. My snipe is the highest amount I'm willing to pay.
As I type this, still no new scan. Now I am starting to panic and get a bit sick to my stomach.
Why, why do shipments for anything nowadays have to be such a horrible experience? Damn it.
Just bid the highest you are willing to pay and however an auction closes that’s it.
Gee... and i thought the point was to acquire things you want at an acceptable price. Little did I know that I would enjoy buying pile of garbage with a thrilling last millisecond snipe.
All comments reflect the opinion of the author, even when irrefutably accurate.
Fixed it so I can agree 100%
Why would you categorize coins bought via last millisecond snips as a "pile of garbage"? I'm very proud of the quality of my collection (mostly bought via snipe at GC), and I know others that snipe have very admirable collections as well. Perhaps the point of sniping went over your head. It allows you to place a bid, without others having time to place a higher bid. Even if my max bid is higher than their ultimate max, where I would "win" the coin anyway, giving them more time to bid can just eat away at my "hidden" max, so I end up paying more than I had to. THAT is the key advantage of sniping.
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
@jmlanzaf
I never sad anything about what i buy on Ebay…
I certainly do not bid on piles of garbage…
It may be good for the buyer but how is this good for the seller and eBay? This is why eBay is making this change. The higher the sale price, the more money eBay makes.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
As I said in my higher post above (12:14 am eastern time), which apparently you did not see, As several people above have correctly said, this change is good for sellers and eBay, not good for snipers (whether with an app or just manually).
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
I normally list cards with a fixed BIN. This new auction policy is making me rethink how to list items. I am thinking to list as Auction with a starting bid a reasonable amount under what my BIN would have been (or maybe just let it start at $1 to get more eyes/bids on the item).
This change will make me use the auction format more. I always felt like as a seller, except on certain items, the hard close was costing me money.
My point was that if the whole point is the thrill of the snipe, you wouldn't care if it was garbage as long as you won.
If the point is to acquire the coin, you shouldn't care if it's a snipe or not.
All comments reflect the opinion of the author, even when irrefutably accurate.
You are missing the point. If the thrill of the snipe is so important, you wouldn't care what you win. If the point is to acquire the coin, you shouldn't care if you snipe to get it.
All comments reflect the opinion of the author, even when irrefutably accurate.
I could be wrong, but I believe neither I nor @2windy2fish said anything about sniping to get a thrill. I know the concept of my sniping gives me no thrill. Getting a desirable coin at a price I'm comfortable paying gives me the thrill. And while I'll continue sniping when allowed, to potentially save money, yes, I don't care if I get a coin based on sniping or not, but neither should YOU care whether we snipe or not!
Steve
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
60 seconds doesn’t sound like a lot but if allowed without limit, auctions could go on for weeks or indefinitely like the penny auctions online. That means a buyer’s money is on hold which is an opportunity cost that could push buyers to go elsewhere for readily available coins. Some people buy coins as gifts. Others are looking for inventory to sell at certain events. Others yet want a definitive answer without games or they will move on.
As someone who routinely waits til the end before bidding on a coin I want, I don't like it. Why have a deadline at all? Don't like getting sniped? Tough, Bid higher next time.
On the flip side, I often have a number of related items for sale at the same time, and I intentionally space them by a minute so bidders can go from one auction to the next. Now they may have to juggle multiple items closing at indefinite but overlapping times. You can plan at an auction house when one item doesn't end until the previous one closes. You can plan on eBay when the end times are fixed. You cannot plan on eBay when the end times are just a suggestion.
The auctioneer doesn't bring down the gavel until all but one willing bidder has been eliminated, so this sounds like a good idea to me and a way to thwart the snipers.
Commems and Early Type
Plenty of auctions end with no bidding at the end, I'd imagine those sellers would be grateful for a few snipers.
I don't believe it will make much difference. Most coins are easy enough to buy. It's not like there isn't another essentially identical one on eBay, or somewhere else, at the same time where most buyers will care enough.
I'll admit it would have a difference to me in the past, but the number of coins I've bought in recent years (say five years) has really decreased because the type of coins I buy is sold elsewhere, at live auction where I now buy almost everything in my primary collection. Most of the few eBay coins I've bought were also Buy-It-Now, some with offers and others without.
I've almost entirely bought bullion substitutes. No sniping for me there.
I think we can determine who does more buying vs selling by the reactions on this thread. Reasonably so, sellers should be curiously excited for the change, and buyers think it is a loss of opportunity. I lean more toward the latter because much of my purchasing is cherrypicking. Adding a minute is a VERY long time for an auction.
"But seek ye first the kingdom of God and His righteousness and all these things shall be added unto you" Matthew 6:33. Young fellow suffering from Bust Half fever.
BHNC #AN-10
JRCS #1606