Posted By:
Eric BrehmI put in low bids early in the auction so I can qualify for the items I'm interested in. There is always the hope that nobody else will top me after that, but so far that hasn't happened, since I am usually interested in fairly popular items. In any case I wait until the extended period to get serious about bidding.
I put in 'max' or 'ceiling' bids in two circumstances:
(1) I can't stay up any longer to monitor the auction, so I just put in my best bid, go to bed, and hope for the best; or
(2) I know exactly what my maximum price is, so I place a ceiling bid at that level in order to 'camp out' on it, and then let the chips fall where they may.
I have bid in dozens of auctions now, with most of the internet houses, and so far I don't see any evidence that any auction house has ever run me up (i.e. shilled me) to my max bid.