Quote:
Originally Posted by Vintagedeputy
I cannot understand the auction mentality of some people.
I was watching a pennant auction. Starting price was $9.00 and it’s probably a $30 pennant. With 3 days left in the auction, someone jumped the bid from $9 to $33. Why?
I can’t understand why people feel the need to bid so high with so many days left to go. Makes me crazy.
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I kind of like when people do that because I get a feel of the demand before the last minute and I can adjust my final bids accordingly.
Sometimes, I'll even make a bid (not at my maximum) a few days before an auction ends to see who bites. If I see my bid is automatically outbid, then I know that someone has possibly put a high max bid. If I see two people outbid me in within an hour then I know that there are a number of keen bidders.