sniping teletrade

jmcu12 · February 16, 2007 1:51AM

Has anyone sniped teletrade? I am new to this so I did not know if it were possible.

ziggy29 · February 16, 2007 1:52AM

It's possible to snipe like any other online auction with a fixed-time ending. But you have to do it manually because there isn't sniping software for it like there is for eBay.

SkyMan · February 16, 2007 1:56AM

Why would you even bother? You can put in a bid and leave it at that. After all, theoretically your bid is at a level that you'd be happy to buy the coin, so you can put in lowball bids on everything that catches your eye, and the odds are that you'll pick some off every now and then.

Colorfulcoins · February 16, 2007 2:27AM

Same reason for sniping ebay exists with TT (perhaps more so).

Lets say an item is $25 currently and you're willing to spend $200 for it. You enter a TT max bid of $200. At some point, the TT SW recognizes your max bid and the current bid jumps to $75, let say. I know this NEVER happens on TT but lets assume the consigner sees the bid jump and starts upping the bid to $100, $125, $150, $175 ets, pushing the bidding higher but carefully so since they don't know where the max bid is set. Everytime they bid it up and it pops up beyomg their bid, they know they're most probably biddding against a max bid (rather an a real then currently on-line bidder). This inflates the price, whether the max bid holds or not......but does risk the consigner buying back the coin.

Same situation except you don't enter a max bid until 1 minute before the end of the auction. The current bid is say, $125, you enter a $200 max bid. Depending upon the siituation (how busy TT is,etc.) you may never even see your max bid "hit" (the last price you see is $125 when the session closes) or you may see a "Your Bid" at $150 lets say. After the close of the auction, the TT system reviews any outstanding Max bids to determine who wins. Samd process as before but there's been NO opportunity for the consigner to manually bid up the item throught the span of the auction.

Does this make a difference? I think so.

richardshipp · February 16, 2007 2:32AM

I won my first lot on Teletrade earlier this week. I used the "my max bid" and put in a bid I thought would win the coin. I was wrong and then later upped my max to a level that I was sure I would win at. Their software worked great as far as I could tell. I ended up getting the coin for $100 less than my max. Got an email yesterday saying they've shipped my coin....... can't wait to get it !!!

Jcarney · February 16, 2007 2:33AM

I snipe every time I bid on Teletrade. I can't imagine bidding any other way.

holeinone1972 · February 16, 2007 2:36AM

The one time I tried to snipe on TT I lost out because their software sucks.

Bid within the last couple minutes and use max bid, either you want it for up to that price or you do not want it.

Best of luck, Rob

ziggy29 · February 16, 2007 2:42AM

<< <i>I snipe every time I bid on Teletrade. I can't imagine bidding any other way. >>

The only time I didn't snipe Teletrade recently is when I had the $50 off coupon on purchases over $100. I wanted to get on, establish the first max bid up to $100, and then raise my own bid repeatedly until it hit $90 (the open was $75), at which price the juice and shipping would kick it to over $100.

It stayed at $90 until a sniper forced the bid to $100...but that was still mine and I won the coin. I suppose it's also the only time I can remember intentionally raising my own high bid.

flaminio · February 16, 2007 3:15AM

Whenever I bid on Teletrade, I try to bid as close to the end time as practical. I'm not going to cancel an outing with my children for it, but if I'm just sitting at my computer anyway, I'll wait to the last minute.

I do wish there was some software for it, like there is for eBay. It'd be nice to have some sort of comprehensive bidding agent to do my work for me. Apparently GavelSnipe now supports Heritage, but the way most Heritage auctions work that's not such an advantage -- but it'd be cool if they moved on Teletrade as well.

ricko · February 16, 2007 3:18AM

Sniping software can be beat manually. Cheers, RickO

flaminio · February 16, 2007 3:28AM

<< <i>Sniping software can be beat manually. >>

Ultimately, high bid always wins, whether it was placed one second before close or one second after open.

The software is just a convenience, nothing more.

ricko · February 16, 2007 3:30AM

Very true...and a 3 second bid will beat the software... Cheers, RickO

RedTiger · February 16, 2007 3:36AM

One reason not to snipe on Teletrade is that the bid increments tend to be larger than Ebay. So if a coin is worth a certain number and is readily available, the first bid to that number will usually win it. The key phrase is readily available.

flaminio · February 16, 2007 3:51AM

<< <i>One reason not to snipe on Teletrade is that the bid increments tend to be larger than Ebay. So if a coin is worth a certain number and is readily available, the first bid to that number will usually win it. The key phrase is readily available. >>

Good point. A lot of times, especially for the cheaper ones, the coin just isn't worth the next bid increment, especially when you factor in the BP. Best in such a case is to just get your bid in first, and if someone else wants to overpay, let 'em.

renman95 · February 16, 2007 3:57AM

<< <i>I snipe every time I bid on Teletrade. I can't imagine bidding any other way. >>

ditto

RotatedRainbows · February 16, 2007 4:22AM

The best way to snipe on Teletrade is using the phone, much faster then any internet connection as you can bid and recheck the high bid in a couple of seconds.

Sparkalepsy · February 16, 2007 4:32AM

Sparkalepsy · February 16, 2007 4:33AM

Oops... Are you saying that the consignor can bid on his own auction?

sniping teletrade

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