Different bidding patterns

[Aquarian Sports Cards]

Originally Posted by perezfan

The phenomenon I will never understand is this (which happens ALL THE TIME...)

An item goes over a week with no bids at all. Then I place the initial bid on it. Within one minute it gets another bid (after a week or two of complete stagnancy). I can't count the number of times this has happened.

Are there really vultures who refrain from bidding for a week to 10 days, but are watching so closely that they pounce as soon as someone else bids? And what good is that strategy, given the fact that the closing is still a few days away?

What possible rationale do they have and what benefit do they derive from it?

With our auction this actually makes sense. If an item only gets one bid it doesn't go into extended bidding (because there can be no competition) so some people hold out hope that they can scoop it up for that one bid right before extended bidding. Basically sniping it. But as soon as someone else bids they have to get their placeholder bid in so that they can bid in extended bidding. If you have several people watching the item what you described isn't just possible, but likely.

[Peter_Spaeth]

Originally Posted by Aquarian Sports Cards

With our auction this actually makes sense. If an item only gets one bid it doesn't go into extended bidding (because there can be no competition) so some people hold out hope that they can scoop it up for that one bid right before extended bidding. Basically sniping it. But as soon as someone else bids they have to get their placeholder bid in so that they can bid in extended bidding. If you have several people watching the item what you described isn't just possible, but likely.

I don't think Mark meant the item had NO bids and then he opened it, I think he meant there had been no ACTIVITY for a week, but he can correct me.

[vintagerookies51]

I used to bid mainly on eBay, where 10 years ago everybody (including me) seemed to be using a sniping service that would double or triple the auction price in the final seconds. That doesn't seem to happen as much anymore, at least on the stuff I'm selling and bidding on.

I honestly don't really like the bidding on auction houses, where you're required to make an initial bid and then there's no last minute action with the way they close. It has its benefits though.

[BioCRN]

Originally Posted by vintagerookies51

I honestly don't really like the bidding on auction houses, where you're required to make an initial bid and then there's no last minute action with the way they close. It has its benefits though.

I know many people like the never-ending extended bidding grind, but I'm 100% bid to my max before going into extended bidding or shortly afterward.

I refuse to get into that sleep-robbing dopamine rush of 15-minute doses of bidding that goes on for hours. I'm an East Coast person. I refuse to play those games for my own sanity.

[HOF_Forever]

Originally Posted by BioCRN

I know many people like the never-ending extended bidding grind, but I'm 100% bid to my max before going into extended bidding or shortly afterward.

I refuse to get into that sleep-robbing dopamine rush of 15-minute doses of bidding that goes on for hours. I'm an East Coast person. I refuse to play those games for my own sanity.

Same here. I put in my max, go to bed, and find out if I won in the morning

[Aquarian Sports Cards]

Originally Posted by Peter_Spaeth

I don't think Mark meant the item had NO bids and then he opened it, I think he meant there had been no ACTIVITY for a week, but he can correct me.

"An item goes over a week with no bids at all. Then I place the initial bid on it"

[Peter_Spaeth]

Originally Posted by Aquarian Sports Cards

"An item goes over a week with no bids at all. Then I place the initial bid on it"

Ah I missed that. But still not sure I understand it, as people would have to place an initial bid anyhow, no?

[Aquarian Sports Cards]

Originally Posted by Peter_Spaeth

Ah I missed that. But still not sure I understand it, as people would have to place an initial bid anyhow, no?

But if they're the ONLY bidder at 10pm on closing night the item closes, so if an item has no bids you can wait and hope that as it sneaks up on 10pm you can get that one bid in and win the item before extended bidding. Once someone else bids, that vain hope is shattered and now you might as well put your placeholder in.

[Peter_Spaeth]

Originally Posted by Aquarian Sports Cards

But if they're the ONLY bidder at 10pm on closing night the item closes, so if an item has no bids you can wait and hope that as it sneaks up on 10pm you can get that one bid in and win the item before extended bidding. Once someone else bids, that vain hope is shattered and now you might as well put your placeholder in.

Got it. Still, Mark says this typically happens WITHIN A MINUTE. Are people really following items that hypervigilantly and then reacting that quickly? And why wouldn't it happen with Al?

[Aquarian Sports Cards]

Originally Posted by Peter_Spaeth

Got it. Still, Mark says this typically happens WITHIN A MINUTE. Are people really following items that hypervigilantly and then reacting that quickly? And why wouldn't it happen with Al?

People do set up notifications, so as soon as that initial bid is placed, their phone yells at them and then they bid. It really doesn't surprise me.

[bnorth]

Originally Posted by Aquarian Sports Cards

But if they're the ONLY bidder at 10pm on closing night the item closes, so if an item has no bids you can wait and hope that as it sneaks up on 10pm you can get that one bid in and win the item before extended bidding. Once someone else bids, that vain hope is shattered and now you might as well put your placeholder in.

That is a great explanation as I have had that happen before just like Mark described.