Why do some people bid auctions up and up with 10, 20, 30 minutes left?

coin22lover · December 17, 2009 10:54AM

This is something I've never understood...and if you do this, please explain why. Often I'm waiting to snipe bid on a coin, and very often someone comes along with 30...20...5 minutes left and bids incrementally until they are the high bidder. Why not just wait until 5 seconds are left and just bid the maximum you're willing to pay? Why give someone else the temptation to come along and increase the price you pay even further?

sinin1 · December 17, 2009 11:12AM

because I am looking at other stuff for the 30 minutes before closing-

and I might miss the last 5 seconds of auction that you like to bid on

and if coin is closer to max at 15 minutes left (vs 10% value), the people looking at category will say no big bargain there

but if it was only 10% value, there might be many more contenders at close

MsMorrisine · December 17, 2009 11:23AM

that is true for things I feel I'll see more listed later &/or I think will be heavily bid up in the last minute anyway.

Yeah, I sometimes just get my bidding out of the way early.

GoldenEyeNumismatics · December 17, 2009 11:24AM

I often do not know the maximum I'm willing to pay until the last minute of the auction.

BigDowgie · December 17, 2009 11:27AM

My reply would be similar to sinin1. I usually don't incrementally bid up an auction, but I will go in and make my max bid and let it ride. I never understood sniping. You are really doing the same thing except in the last 5 seconds. You are entering the max you want to pay and let the highest bidder win, whether you do it 30 minutes before an auction ends or 5 seconds. Help me out here?
Dowgie

Coinlearner · December 17, 2009 11:32AM

and if coin is closer to max at 15 minutes left (vs 10% value), the people looking at category will say no big bargain there

Yep,If I want something, I may place a bid 10% below my max at start of sale ,to discourage as many as possible from the sale. Also noticed on selling,as the price goes up, the number of "watchers" goes down.

terribleredmonster · December 17, 2009 11:36AM

I've had much more success winning auctions via a web based sniping program. So much so that I only bid for myself on cheaper, common material or items I'm sure I will have little competition for. I don't always win with a snipe, but when I do (maybe 50% of the time) I tend to win for less than my maximum bid. The numbers convinced me and now I'm converted.

coin22lover · December 17, 2009 11:39AM

<< My reply would be similar to sinin1. I usually don't incrementally bid up an auction, but I will go in and make my max bid and let it ride. I never understood sniping. You are really doing the same thing except in the last 5 seconds. You are entering the max you want to pay and let the highest bidder win, whether you do it 30 minutes before an auction ends or 5 seconds. Help me out here?
Dowgie >>

Yes, by doing this you are giving shill bidders opportunity, as well as tempting others to beat your bid.

OKbustchaser · December 17, 2009 11:57AM

<< 

<< My reply would be similar to sinin1. I usually don't incrementally bid up an auction, but I will go in and make my max bid and let it ride. I never understood sniping. You are really doing the same thing except in the last 5 seconds. You are entering the max you want to pay and let the highest bidder win, whether you do it 30 minutes before an auction ends or 5 seconds. Help me out here?
Dowgie >>

Yes, by doing this you are giving shill bidders opportunity, as well as tempting others to beat your bid. >>

And if so then they wanted it more than I did.

sinin1 · December 17, 2009 12:05PM

I will not disagree with the notion I probably pay more on my wins than I could have possibly

it is especially obvious with a newer bidder (possible shill? nah, ebay doesn't allow those

)
that in the last 20 minutes, bumps up the bid every minute or 2, goes away and 5 minutes later does it again

If I really want something, I will go to the EFFORT of setting up a 5 second snipe
but takes some time, opening another browser, copying item number, .....

but my eBay summary starts with my bidding - which I guess could be my watching if I was JUST a sniper

as far as repeat bidding up/up/up, I rarely do that now

shorecoll · December 17, 2009 12:06PM

If I know you or think something I'm looking at is too cheap I'll put in a test bid with 15 minutes or so to go to warn snipers that I'm there. If I bid what I think an item is worth and you snipe me, well bless your little pea-pickin heart. If I'm browsing and find something I like, I'll bid at any time. I used to snipe but now don't care enough. Sorry, I must just be weird.

COALPORTER · December 17, 2009 1:08PM

Maybe it is caused by BID-BOTS !

I can't understand why the Gov outlawed online gaming, but they allow online auctions- isn't it the same thing ? Don't people realize that someone,maybe even hackers, has "master software" that can see everyone's hand ?

csanotes · December 17, 2009 4:37PM

As a practicing bidder of this strategy I usually do it with items that have exceeded how much I am willing to pay only. It gets the seller of the item more bids, more competition and usually more money and as a great side note it makes the people that wish to pay more than I do actually pay more...sometimes way more...Knock on wood--I've never been stuck towards the end of an auction having to pay for something so it's all good.

1Mike1 · December 17, 2009 4:54PM

<< Maybe it is caused by BID-BOTS !

I can't understand why the Gov outlawed online gaming, but they allow online auctions- isn't it the same thing ? Don't people realize that someone,maybe even hackers, has "master software" that can see everyone's hand ? >>

Maybe we should "coin" them BID-IOTS!

Dropdaflag · December 17, 2009 5:13PM

it really does not matter what or when you bid as a shill can snipe too. Running the price up in the last seconds.

leothelyon · December 17, 2009 6:00PM

<< 

<< 

<< My reply would be similar to sinin1. I usually don't incrementally bid up an auction, but I will go in and make my max bid and let it ride. I never understood sniping. You are really doing the same thing except in the last 5 seconds. You are entering the max you want to pay and let the highest bidder win, whether you do it 30 minutes before an auction ends or 5 seconds. Help me out here?
Dowgie >>

Yes, by doing this you are giving shill bidders opportunity, as well as tempting others to beat your bid. >>

And if so then they wanted it more than I did. >>

Or money wasn't a problem. Let's face it, the bidding system is pretty much all screwed up. Whenever someone has more money than brains, we'll see a coin's value double, triple or more overnight. Just because someone thinks they can bid a $100 coin up to 20 grand, doesn't neccesarially equate to a fair market value for a coin. The majority of us collectors who have suffered pretty much by the same demeaners all our lives are always waiting for these clowns to live and learn and move on. But that doesn't happen since there's always another one ready to take his place although it's usually with bad timing when they buy and sell. But the bottom line is the fact that they don't really care or know better about how much they pay and how much they're going to lose. They just jump in feet first and there they are, thinking they're actually accomplishing something, doing everybody a favor by being some kind of king of the hill.

What's the solution, I have no idea.
There was a time when I got all upset about it, even to email the winner and asked him why he waited all week to bid in the final minutes of the auction. And he said, I usually sit right here in front of my computer and wait for the very last second to bid if I really want something. Of course, I came back with, "is this method of bidding the way to show the true value of a coin?" "That we should of had a bidding war to see who came out on top and who wanted the coin worst than the other." By this time I started to feel a little silly over the matter since there's no way I'll ever be able to control how someone bids. You win some and lose some. And then there's the wait.

Leo

lunytune2 · December 17, 2009 8:18PM

Up until about 2 weeks ago I was on dial up internet .. if I did not get my bid in 10-15 minutes early I would not be able to bid another time or 2 if need be .

JaPa · December 17, 2009 8:37PM

minutes left and bids incrementally

I find many times this process can be traced to shill bidding by just looking at the detailed bidding list. Especially if you put a nice chunk of change out there as your maximum and the seller knows it. Ebay is becoming more and more of a war of bidders against sellers shill/s and with due diligence all you have to do is watch the bidder details to find the ones who do it.

Of course no one will admit it but I bet a few of our very own right here participate in the practice. Nope not me and not the mass majority here but.............

PerryHall · December 17, 2009 9:35PM

<< it really does not matter what or when you bid as a shill can snipe too. Running the price up in the last seconds. >>

When the shill wins the auction using this strategy, does he have to pay all the eBay fees?

moonshine · December 17, 2009 10:05PM

It all really doesn't matter, if I want the item bad enough - I will bid high enough, and win it.

Online sniping program is a sure win, if you bid high enough - BUT it takes the fun out of it ....

Opening that extra browser, and doing the sniping 'by hand', the old fashioned way will give you a thrill every time!

Also, if there is an item, that is bid about it's approximate value, a person may want to see if they can get it for just small amount more, and then even try again - not really wanting to pay a whole lot more, but incrementally bid in small amounts.

Then again, others may do it just to irritate high bidder, and make them pay more, because they can.

PerryHall · December 17, 2009 10:51PM

<< It all really doesn't matter, if I want the item bad enough - I will bid high enough, and win it. >>

For most collectors, overpaying for coins is not a practical option. Their coin budget is limited and they prefer to get the most benefit for their budget.

EricSan · December 17, 2009 11:42PM

Funny, I've often wondered why anyone bids at all before the auction is nearing its end. You're just advertising, "Hey, I want this coin, too! Please come and bid against me!" All of my bids are within the last 2-5 seconds of the auction. Some I win, some I don't.

Does the guy who bids $5 for a $1500 coin on the first day REALLY think he's going to win? What's the point (other than adding it to a watch list)?

Fairlaneman · December 18, 2009 12:03AM

When I bid early, day ahead, 8 hours ahead, its because the coin is a coin I would buy at the early bid price. If the coin is a coin I really want I do the bidding in the last 5 minutes or so. I do not use a snipe program at all.

Ken

19Lyds · December 18, 2009 12:29AM

<< minutes left and bids incrementally I find many times this process can be traced to shill bidding by just looking at the detailed bidding list. Especially if you put a nice chunk of change out there as your maximum and the seller knows it. Ebay is becoming more and more of a war of bidders against sellers shill/s and with due diligence all you have to do is watch the bidder details to find the ones who do it. Of course no one will admit it but I bet a few of our very own right here participate in the practice. Nope not me and not the mass majority here but............. >>

As an eBay seller, I must say that I have absolutely NO IDEA what folks Maximum Bids are!

However, as an eBay Buyer I can pretty much guess what my competition might bid so I add $1.58 to my bid.

Shill bidding does exist but not to the extent that some would like you to believe. If you as a buyer enter a maximum bid, then you as a buyer should, at the very minimum, respect your maximum bid and not whine and scream SHILL when you end up paying that amount.

drwstr123 · December 18, 2009 12:49AM

I enjoy sniping, kinda like Atlantic City with better odds. The times I bid early are those I must be out and busy.
Sometimes peaches...sometimes pits.

JaPa · December 18, 2009 12:51AM

<< 

<< it really does not matter what or when you bid as a shill can snipe too. Running the price up in the last seconds. >>

When the shill wins the auction using this strategy, does he have to pay all the eBay fees? >>

Shills job is not to win but run the bid up when the seller knows the high bid and the shill runs the bid up 1 dollar below that. If the shill should win the bid just trying to run up the price then they simply withdraw the bid and are never penalized for doing so. Another sure shill sign a bidder is one who has withdrawn their bid many times without penalty to their account because it is never reported.

JaPa · December 18, 2009 12:56AM

<< 

Shill bidding does exist but not to the extent that some would like you to believe. If you as a buyer enter a maximum bid, then you as a buyer should, at the very minimum, respect your maximum bid and not whine and scream SHILL when you end up paying that amount. >>

With all due respect shill bidding is rampant on ebay.

fishcooker · December 18, 2009 12:58AM

In the new ebay, I bid early to run off competition. In the good old days of 99 cents/NR auctions, no never bid early.

ambro51 · December 18, 2009 1:07AM

Because they are sitting on their chairs.....nervous with energy.....a LOT of people dont even know the snipe programs exist and can be trusted...they feel they MUST do SoMeThInG!!!!

so, a little bid, up the price a bit...feel out the competition....at least they are doing SoMeThInG!

PerryHall · December 18, 2009 1:16AM

<< 

<< 

<< it really does not matter what or when you bid as a shill can snipe too. Running the price up in the last seconds. >>

When the shill wins the auction using this strategy, does he have to pay all the eBay fees? >>

Shills job is not to win but run the bid up when the seller knows the high bid and the shill runs the bid up 1 dollar below that. >>

How would the shill bidder know the high bid?

Res · December 18, 2009 1:26AM

<< 

<< 

<< 

<< it really does not matter what or when you bid as a shill can snipe too. Running the price up in the last seconds. >>

When the shill wins the auction using this strategy, does he have to pay all the eBay fees? >>

Shills job is not to win but run the bid up when the seller knows the high bid and the shill runs the bid up 1 dollar below that. >>

How would the shill bidder know the high bid? >>

Conspiracy theorist.

moonshine · December 18, 2009 4:23AM

PerryHall - exactly ... and I don't bid if it is overpriced, and if it is at price, please read rest of my post.

JaPa · December 18, 2009 5:34AM

<< 

<< 

<< 

<< it really does not matter what or when you bid as a shill can snipe too. Running the price up in the last seconds. >>

When the shill wins the auction using this strategy, does he have to pay all the eBay fees? >>

Shills job is not to win but run the bid up when the seller knows the high bid and the shill runs the bid up 1 dollar below that. >>

How would the shill bidder know the high bid? >>

Me thinks you are playing dumb concerning shill bidders and more often the seller having multi accounts JUST for such shilling.

ksteelheader · December 18, 2009 5:55AM

<< 

<< 

<< 

<< 

<< it really does not matter what or when you bid as a shill can snipe too. Running the price up in the last seconds. >>

When the shill wins the auction using this strategy, does he have to pay all the eBay fees? >>

Shills job is not to win but run the bid up when the seller knows the high bid and the shill runs the bid up 1 dollar below that. >>

How would the shill bidder know the high bid? >>

Me thinks you are playing dumb concerning shill bidders and more often the seller having multi accounts JUST for such shilling. >>

Methinks you're avoiding answering the question.

PerryHall · December 18, 2009 6:40AM

<< 

<< 

<< 

<< 

<< 

<< it really does not matter what or when you bid as a shill can snipe too. Running the price up in the last seconds. >>

When the shill wins the auction using this strategy, does he have to pay all the eBay fees? >>

Shills job is not to win but run the bid up when the seller knows the high bid and the shill runs the bid up 1 dollar below that. >>

How would the shill bidder know the high bid? >>

Me thinks you are playing dumb concerning shill bidders and more often the seller having multi accounts JUST for such shilling. >>

Methinks you're avoiding answering the question. >>

Maybe he doesn't want to give away any trade secrets.

boucharda · December 18, 2009 9:22PM

I just auto load all the items I want to bid on later in the day, put in the max I would pay, and set the bid for 5 seconds before close. I then can lead a normal life and return whenever to see if I have to pay for anything.

I would never set a bid early

PerryHall · December 18, 2009 10:35PM

<< I just auto load all the items I want to bid on later in the day, put in the max I would pay, and set the bid for 5 seconds before close. I then can lead a normal life and return whenever to see if I have to pay for anything.

I would never set a bid early >>

Agree that this is the best and most disciplined strategy.

Boom · December 18, 2009 10:49PM

Having bought & sold on eBay for well over 6 1/2 years I've watched the bidding process evolve & change.

Some people will place a token bid to mark the coins they're interested in as opposed to placing them on their "watch list".

Years ago people would go toe to toe right out the blocks on Day One. I never understood this logic because it seems to me that if I were
seriously interested in a coin, as a buyer, I would not bid at all (lay low) placing my highest bid as late as possible. Made sense to me as
I do not use a sniping program. Call it what you will but I just never felt comfortable giving my password out to entities I don't personally know.

Nowadays, many people employ such sniping programs. This tends to keep prices down till right before the very end of the listing which makes
a lot of sellers neurotic. As a seller, I don't sweat it because I've seen bids climb dramatically just within the final 3 seconds, when ALL the snipers
go off. As such, it's best just to list it, forget it & totally walk away.

Some bidders (like me) have to guess where the high bid actually is which in turn causes me to place multiple bids tracking the high bid down OR
to place one bid reflecting the most I am willing to pay & forgetting about it.

I also learned to NEVER place your highest bid EARLY because of the aforementioned - bidders tracking you down, thereby driving the true, albeit
hidden high bid higher till exposed. These bidders have interest in the listing but do not use snipers. This can be mis-read as shilling or helping to
push bids higher when in fact this is not the case at all. Again - these bids are generally placed by people that don't use snipers, trying to track
down the true high bid.

Then, of course, there are the shillers, using the Buddy System to actually drive bids up. It's Not at all wise to place your true highest bid in too
early, particularly if you really hope to win because people will run up your backside & push you right into that high bid.

This has been my observation of the past 6 1/2 years, FWIW. I hope it helps to shed some light on this topic. Of course, this is just MHO, FWIW.

Why do some people bid auctions up and up with 10, 20, 30 minutes left?

Comments

The more qualities observed in a coin, the more desirable that coin becomes!

My Jefferson Nickel Collection

Leave a Comment