Clearly people place snipe bids to get lower prices. People in this very thread have said that. So clearly sniping lowers prices. And it's not just a matter of shilling (which I don't deny is a legitimate problem), but people here have said they do it due to other legitimate bidders. They believe other bidders (and I'm talking about honest ones) will bid more and raise prices if they see their bids in the middle of the auction as opposed to when they're snuck in at the end and don't have a chance to react. Call it psychological bidding if you wish or people bidding more when they're emotionally invested in an item they've bid on or being irrationally exuberant or having more time to think if they are willing to place an extra bid, but that's a part of how people bid. People are psychological animals not robots and often will bid more than they would have if they someone has out bid them. Remove shilling and have only legitimate honest bidders participating in the bidding process and people would still place snip bids to get lower prices. The reason why auction houses have 10 or 15 minute rules is because bidders will reconsider what they're willing to bid and sometimes raise their bids when given a few minutes to think about it-- something that snipe bidding eliminates and is designed to eliminate. The idea that sniping has no effect on final pricing is, quite simply, wrong-- and I'm talking here about auctions where there is no shilling.
Last edited by drcy; 06-26-2015 at 09:08 PM.
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06-26-2015, 08:34 PM
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