A few points
1) I agree with all the points made above related to the buyer side. I almost always snipe.
2) As a seller - for regularly traded items where a market value is easily established, I believe there is not too much risk that a seller takes on.
3) For more thinly traded items or should I "feel like it" - I have the choice to set a minimum bid or reserve. Yes, statistically it chases some bidders away, but it also protects me.
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