Quote:
Originally Posted by ibuysportsephemera
What is also happening is that most people bid in round dollar increments. IMO it is smart to bid the way that you are bidding (this is how I bid) because for maybe as little as .13 cents you won the auction. For example the underbidder entered $83.50...your bid of $83.63 was higher so you won. One negative thing about bidding this way is that an experienced bidder will know your max because of the odd dollar amount, and know that their next bid will be enough to outbid you.
Jeff
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Or an experienced (shill) bidder will know exactly what to bid up to in order to get maximum return. There is no doubt in my mind that this is taking place. In a closed bidding process my max. bid is $83.63 and along comes another bidder and happens to bid up to $83.50-- $.13 cents shy of my total. Unlikely coinsidence? I think not.
Besides, if an experienced bidder is the only one up against me, he doesn't benefit from this sort of precision-- he could go well beyond my max. bid and find, within a dollar, where I maxed out at and not have to pay a penny more. The seller, on the other hand, clearly can profit, if so inclined.