I'm still trying to figure out why "putting in the max value you mean to pay as soon as possible" is not the optimal strategy. I don't eBay much, but I don't get sniped, because I do this. All sniping does is raise the amount I have to pay (but still at or below my max) at the last minute in a way I completely expect, or causes the amount to go over what I'm willing to pay, in which case I shrug and move on with life.
This whole sniping thing is one of the larger gigantic wastes of time and fury I can think of. Use the system as designed and it all works.
Sniping works because there will always be a large number of people like region2's quote who don't understand the microeconomics if bidding (I'm not going to present a tutorial here, but I have written about this elsewhere).
One of the more interesting and effective applications of sniping is in the form of bid groups. It's clear region2's quote has never used bid groups. When bid groups are called for, they give the sniper ABSOLUTE SUPERIORITY, over and above the advantage conferred by sniping in a single auction. I recently paid only a fraction of the average price paid by my non-sniping competitors in a bid group of about 10 very similar items, all ending within seconds of one another.
This message has been edited. Last edited by: azureson,
Actually the replies in Region2's thread are quite lucid.
I think it does boil down to consumer ignorance.
Snipers, by definition, are more rational, making up their minds at an early stage of the process. This gives them time to assess bidding trends and to withdraw or increase their bid. It also allows them to look at other bidding "opportunities" if something "better" appears.
It removes most of the competitive element (I know I am as bad as the next man at a real auction - that's why I don't go to the local auction rooms!)
There is something quite "pure" in an all sniper auction - almost a theoretical "perfect market" where buyers make their guesses based upon their take of the current value of the item with no influence from other participants.
Still totally unpredictable though - I now know I am showing classic gambling traits for I love the thrill of the "chase" and the throw of the dice. It is an addiction and if I don't stop buying cameras, the office will either collapse into the kitchen or the wife will file for divorce!
