Something Fishy Going on Here?

[mferronibc]

Oh gotcha. So in other words with the set it and forget it approach I can pretty much guarantee I am going to pay that max bid unless I throw it in at the last second and there's no time for them to bid up to my max because they always have the ability to do so by the nature of the min bid increment?

I feel like a moron, guess this is all eBay 101.

[CW]

Here's a helpful tool for setting those snipe bids, or last second bids:

https://www.gavelsnipe.com/

Under the "my account" setting you can find a "my gavelsnipe preferences". On that page you will want to set your buffer to 6 or 7 seconds.

[mferronibc]

Nice thanks CW. So I’m straight- the idea is say a card is currently at $30 with 4 hours to go. I would be willing to spend $50 for it but if I could get for $40 obviously that would be better. If I set a traditional bid at $50 now with that much time left I could definitely get bid up to my max by shill bidding. If I submit my $50 last minute and everyone else’s max is $40 I would win it for $41? With this tool I can still set my max but it waits for the last few seconds do to submit it? Genius.

[bnorth]

Originally Posted by mferronibc

Nice thanks CW. So I’m straight- the idea is say a card is currently at $30 with 4 hours to go. I would be willing to spend $50 for it but if I could get for $40 obviously that would be better. If I set a traditional bid at $50 now with that much time left I could definitely get bid up to my max by shill bidding. If I submit my $50 last minute and everyone else’s max is $40 I would win it for $41? With this tool I can still set my max but it waits for the last few seconds do to submit it? Genius.

That helps but some of the shill bidders are now also setting snipe bids.

[swarmee]

Originally Posted by bnorth

That helps but some of the shill bidders are now also setting snipe bids.

Much rarer. If that happens and the seller offers you a second chance when the buyer "backs out", you tell them no.

[swarmee]

Yeah, the shill bidding happens/happened with the sports auction houses as well. That's what brought down Mastro; their software did not mask high bid amounts from the company, and the employees would place bids up to your max to make you pay more by bidding against yourself.
That tactic is legal in some states as long as the auction houses inform you. So when you create an account with Heritage, REA, Mile High, etc., make sure you read the fine print on their auction rules. (Not sure which ones allow it, and which don't)
Or just bid one increment at a time at the end of the auction.