How to bid and win for a lower amount - the secret eBay sellers don't want you 2 know

codger

Reckon you're more of an Einstein than I'll ever be, tick.;)

precipice

Avoriaz wrote: »

The “bid once, bid your maximum and bid late” maxim is the best way to bid.

I agree with this, almost completely.
The only times I'll ever bid early are
1) If I'm concerned the seller will pull the auction if they don't get a nibble.
2) It's an item when people who know me might be bidding too. Nobody wants to get into a snipewar with their friends when there'll be another item along soon enough
3) I really, really want something, that is far more valuable to me than to anyone else, and can't trust the sniper. This has to be a very conscious decision to throw money away.
4) There is no case 4.

And, this being MSE and all, here's how I ditched most of my previously serious ebay habit:
If it's not something I need, right now, 10% of retail is as high as I'll go.
Suddenly my house is no longer full of speculatively bought stuff, and my paypal account no longer makes me whimper.
Your percentage may not be 10%, but having this guideline really took the edge off the habit.

And <bang>, I'm no longer a lurker...

P.

GabbaGabbaHey

precipice wrote: »

The only times I'll ever bid early are
1) If I'm concerned the seller will pull the auction if they don't get a nibble.
2) It's an item when people who know me might be bidding too. Nobody wants to get into a snipewar with their friends when there'll be another item along soon enough
3) I really, really want something, that is far more valuable to me than to anyone else, and can't trust the sniper. This has to be a very conscious decision to throw money away.
4) There is no case 4.

BIN stomping?

precipice

GabbaGabbaHey wrote: »

BIN stomping?

There is no case 5...

P.

codger

precipice wrote: »

And <bang>, I'm no longer a lurker...

P.

. . . but what a quality lurker though.

Welcome to MSE.

Whether there's a case for it or not.

:j

moomin_white

Avoriaz wrote: »

It makes no difference. If someone else bids higher than you, then you will lose to them no matter when you each bid.

The “bid once, bid your maximum and bid late” maxim is the best way to bid.

If someone else is prepared to bid more than your maximum, they will win whatever.

Bidding early tempts others to outbid you and also might tempt you to yourself get sucked into a bidding war and bid over your own maximum.

Neither of these are desirable.

When you lose, so what? There will be another auction along soon that you can win at a lower price.

Overpaying is not a good buying strategy.

i think alot depends on what you are bidding on. I would never overbid on something that is readily available. The stuff i buy on ebay is antique jewellery - which can't be bought new and you don't see the same things cropping up everyday! i think it's hard to overbid on items that are one of a kind.

You say 'Bidding early tempts others to outbid you' - i don't think this is always the case, and personally other people bidding on an item has often put me off bidding!

moomin_white

codger wrote: »

The late bid didn't fail because it was late.

It failed because it was lower than yours.

To say that "bidding late can often lose you an item" is nonsensical. The amount is everything -- not the timing.

wow! some posters on here really know how to make you feel welcome!

thing is with bidding late, especially if there are no other bids yet - people are often tempted to bid low because they think no one else is going to bid. That is what i trying to get at.

Mozette

Avoriaz wrote: »

It makes no difference. If someone else bids higher than you, then you will lose to them no matter when you each bid.

The “bid once, bid your maximum and bid late” maxim is the best way to bid.

If someone else is prepared to bid more than your maximum, they will win whatever.

Bidding early tempts others to outbid you and also might tempt you to yourself get sucked into a bidding war and bid over your own maximum.

Neither of these are desirable.

When you lose, so what? There will be another auction along soon that you can win at a lower price.

Overpaying is not a good buying strategy.

What A said... (again!)

Avoriaz

moomin_white wrote: »

wow! some posters on here really know how to make you feel welcome!

thing is with bidding late, especially if there are no other bids yet - people are often tempted to bid low because they think no one else is going to bid. That is what i trying to get at.

Welcome to the forum MW. We are usually quite nice really.

Those people are doing it wrong and should not be tempted to bid too low.

If you “Bid once, bid your maximum and bid late” there are two possible outcomes. *

You will win at a price you are prepared to pay or you will lose because someone else was willing to pay more.

There is no point bidding below your maximum just because you think no one else is going to bid? If no one else bids, then you will win at the starting price regardless of how high you bid.

Say an item starts at £5. Even if you bid £20, you will get it for £5 if no one else bids. If you are willing to pay £20, then bid £20. Don’t bid £10, lose out to someone who bids £12 and then regret not bidding £13 or £15 or £20. That is just daft. Always bid the maximum that you are prepared to pay.


* For simplicity I have excluded the third possibility that someone else was willing to pay the same as you but bid earlier and therefore their bid takes precedence over your equal bid. That is a downside to bidding late but it happens so rarely that it can be ignored, especially if you bid an odd amount like £20.02 rather than £20.

Avoriaz

Mozette wrote: »

What A said... (again!)

Flattery will get you everywhere with me.