New Bust Dollar Purchase and Snipe Question

hiijacker · March 13, 2010 11:22AM

I just won this coin on eBay using a snipe website. What is interesting is the price I won it for was exaclty the amount of my Snipe. Is this coincidental or was there was way for the seller to figure out my Maximum bid?

Also how do you like the coin?

eBay

STONE · March 13, 2010 11:24AM

Nice price

AUandAG · March 13, 2010 11:26AM

Looks like you both bid $959 but your snipe was earlier. It should have gone up by $5 otherwise.

Coincidence,

bob

jdillane · March 13, 2010 11:31AM

One bid was placed after your snipe but it was slightly less than your max and within the increment which forced your max bid. Bust dollars have been soft for nearly 5 yrs. I still love em but the days of my having a gaggle of em are long past. Still, I think you ripped her even in the face of the soft market.

Seller cannot be pleased....

hiijacker · March 13, 2010 11:37AM

I having been buying Bust Dollars in the VG grade. I think there are too many problem or detail graded Bust Dollars. I prefer a VG grade to an AU Details graded.

Lewy · March 13, 2010 12:25PM

I do not bid on auctions sites, nor do I sell, (someone does all this for me) but I have studied the bidding tactics employed by prospective buyers through their cumulative bids, and timing of those bids. I view it as a game of tactics and strategy, and enjoy simply watching auctions in their final death rolls.

While you may not have paid too much, I think that maybe you paid more than you really needed to.

Consider this: Many bidders are influenced by the bid of a prior bidder (this is how bidding wars are conducted). Every bid that is made in an auction may well be considered by another bidder and may be influential in his/her next bid. Every bid has the potential to influence subsequent bids, thereby driving the current and final price up and up and up.

You made two bids prior to your final snipe bid. Your initial bids served only to drive the price up and (possibly), influence the snipe bids of the other two snipers.

I wonder why, if it was your intent to snipe in the end anyway, why did you place prior bids?

It is my belief that the less bidding that goes on in an auction, the lower the ' perceived' interest level of all prospective snipers. (Fewer cumulative bids equals lower snipe thresholds). Higher cumulative prices near the end of an auction may also influence snipe bids).

I think you may have been lucky this time, but my suggestion in the future would be; if you are going to snipe, don't bother making preemptive bids.

hiijacker · March 13, 2010 1:04PM

<< I wonder why, if it was your intent to snipe in the end anyway, why did you place prior bids? >>

I agree, the less early bidding the more likely a lower price. I placed an early bid, since I use Bigcrumbs, and in order to get Bigcrumbs credit, while still employing a snipe program, is to first place a manual bid through Bigcrumbs, and then use a snipe to win.

jdillane · March 13, 2010 1:08PM

Interesting thought, Lewy. But, I have also seen auctions soar in the waning moments when the bidding up to that point was way below market. Granted, many bidders seem like sheep and only engage when there appears to be validation by other bidders. And, occasionally one places their bid early only to see another walk up the price with minimal increments until they seem to get just under the max bid then they stop.

I used to manually snipe on the bay especially in 05 and 06. I found the process to be quite entertaining. My wife was not too fond of all the packages coming in the mail however.

robkool · March 13, 2010 2:18PM

Just remember, that shill bidding still exists. Even when the owner feels the bids are too low. I occasionally see artificial inflation of higher bids during the course of an auction.

sinin1 · March 13, 2010 3:04PM

the auction was sitting around $808

at least 3 bidders placed snipes

- there could have been more but since the current bid was higher than their snipe, they did not register

the 3 snipe bids were
827.99
952.67
959.00

your bid was 1 second before other 2

the guy that bid 952.67 bumped you up to your max

I do what you do as far as low bid(s) and decide later if I want to put in a snipe

I see people that only snipe bid - and others that only manual - and others that do both

I do not feel early auction bidding effects outcome
of what 2 highest interested parties are willing to bid
especially if they are going to snipe

early max bid hinders against newby bidders who bid 10+ times on an auction
bidding, coming back and bidding a few bucks more, .....

I have people watching my auctions that do not bid - but either have an interest or a snipe set

bust looks nice to me - but not my series and I have no idea on values

divecchia · March 13, 2010 3:09PM

<< Nice price

>>

Ditto that on a very nice looking coin...

Congrats...Donato

Broadstruck · March 13, 2010 3:15PM

I don't snipe and feel there is software that allows sellers to figure out my maximum bid, as I've won a few items lately between 3 cents to 66 cents of my max.

Bochiman · March 13, 2010 3:43PM

Paranoia will destroy ya.
I snipe, and have sniped, for years. I've also sold. I'm no longer a "power seller" and was never in the BIG BOY ranks, but never did see any "tool" or software to figure out someone's snipe bids.

I've sniped and won at my best price and I've sniped and won for A LOT LESS. It is what it is, is how I look at it.

dsessom · March 13, 2010 4:00PM

Ya damned snipers! LOL

Lewy · March 13, 2010 4:55PM

Steve27 · March 13, 2010 5:43PM

There is no way for other bidders to figure out what your max bid was, but there was no reason to bid prior to the snipe (and has been stated, it might have hurt you).

ricko · March 13, 2010 9:56PM

I have sniped many times. I always do it manually.... and have never lost an item that I wanted. Software cannot beat the manual snipe when done properly. Cheers, RickO

hiijacker · March 14, 2010 1:29AM

<< There is no way for other bidders to figure out what your max bid was, but there was no reason to bid prior to the snipe (and has been stated, it might have hurt you). >>

Again, the reason for the early bid is to get Bigcrumbs credit (or other cashback sites).

They pay between 2-3% of thw inning bid, which adds up.

Steve27 · March 14, 2010 1:50AM

<< 

<< There is no way for other bidders to figure out what your max bid was, but there was no reason to bid prior to the snipe (and has been stated, it might have hurt you). >>

Again, the reason for the early bid is to get Bigcrumbs credit (or other cashback sites).

They pay between 2-3% of thw inning bid, which adds up. >>

The attention it draws to the auction, probably drives up the cost of the item considerablly more than 2-3 percent.

cameron12x · March 14, 2010 2:11AM

Manual sniping can work fine, as long as you have the time to place your bid within the last 3 seconds and your Internet latency is small.

notwilight · March 14, 2010 2:43AM

It is not at all unusual for you to win at your snipe. That means your snip was less than one bid increment above the next bid. for that to work, your snipe had to fire before his or the 3rd highest bidder is more than a bid increment below yours. I've won many auctions over the years by .01. --Jerry

New Bust Dollar Purchase and Snipe Question

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