posted on November 14, 2011 05:25:00 PM new
I have been on ebay for 12 years now. I have noticed something I have yet to confirm or explain. Does having an early bid, sometimes of a price out of line, well over the true value, cause other people to outbid you even at that price?
In the past, I have well overbid the price of an item to make sure I "get it", only to find out someone overbid me. Is there something of a human behavior to explain this. If on the same item, I wait till the last minute to bid, I will usually get it for half the price.
posted on November 15, 2011 01:07:18 AM new
This is why so many people use a snipe program to bid. Some people can not stand to be outbid and will keep bidding untill they win. Great for sellers not so great for early bidders. Only problem is some of these people think about it later and get buyers remorse and don't pay or make up an excuse to return the item.
posted on November 15, 2011 06:24:01 PM new
Makes me think of the good old days when we had early bids and last minute bidding that doubled/tripled our profits.
Those were the days - my friend - we thought they would never end!!!
posted on November 15, 2011 06:37:32 PM new
It seems if an item has a bid early,some itchy fingers will try to outbid the early bidder just to see how high is his bid.
posted on November 15, 2011 08:15:32 PM new
True, hwahwa, but also an early or existing bid may make the lookers wonder if the item is actually worth something and will look at it.
posted on November 16, 2011 12:31:34 PM new
I don't see any reason for a bidding only account any longer. Sellers can't leave you bad feedback so why bother. The reason I had a seperate account was people followed and outbid anything I bid on because they thought as a seller if I was going to make money with an item they could still make money bidding an extra dollar. That is why I ended up using a snipe bid program and a seperate ID. Now they can't follow what you bid either.
posted on November 18, 2011 11:57:08 AM new
You have an economic advantage over other bidders with an early bid (you basically "own" the price range in which you bid), but sometimes 1st bids can attract other buyers.
