Online auction strategies

[Leon]

Originally Posted by Vintagedeputy

I know I’ve gone off on this topic before, but once again I’m watching two auctions that are jumping in price with days left before closing. Do people really think they’re going to scare each other off at three dollar or five dollar increments at a time?

Except for the odd occasion where someone might not be available at the auction’s close, I can’t understand why people keep wanting to pay more for items that they can get much less expensively if they just waited until the end to bid.

Sometimes people will put their max bid in, early, and forget about it. Also, maybe they are taking a spot and hoping they don't get outbid. But yeah, waiting to bid is usually better. (not always, I have stories)

[Balticfox]

In many auctions, a participant can only participate in "extended" bidding if he put in a bid a certain time before the formal "closing" of the auction. All auctions should in fact work that way. A bidder shouldn't be able to snipe in the last minute unless he bid previously.

[BRoberts]

Originally Posted by Balticfox

In many auctions, a participant can only participate in "extended" bidding if he put in a bid a certain time before the formal "closing" of the auction.(

OP, read the above post. Then read it again. Then again. Read it until you understand the point being made.

I'd suggest learning the rules of online auctions before yelling at clouds.

[Brent G.]

I think the people with the least money/who are least likely to go heavy at the end engage in the activity you speak of, just hoping to get lucky.