Re: A Real Newbie Question

bm3wMember

I'm looking at a specific auction that ends at 20:00PDT on a certain weekday date. The price is now low enough, to make me want to wait until the last moment to put in my bid.

Question:
(Hypothetically)
The current bid is $10,000 and I am willing to bid $20,000, and another bidder is willing to go to $19,000. If the current bid ($10,000) remains as the last one before we both bid, will the increment go up by $100 from the last bid, or will E-bay automatically increase it to $19,000 before it looks at my bid and then increase it to $19,100?

Your answer will obviously have a great impact on my final amount.

Thanks for your time and help.

John

9/2/0312:09 PM

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rickMember

It will place one bid at $20,000. Your closing price will be $19,100.

9/2/0312:57 PM

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steveExpertSniper

The remaining $900.00 will be in a hidden proxy reserve.

9/2/031:09 PM

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rickMember

Steve,

Any advice to our associate about an auction ending 20:00PDT on weekday as it pertains to lead time?

It's that "wait until the last moment" comment.

9/2/031:13 PM

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steveExpertSniper

Well, many auctions ending on the even hour, half-hour, or quarter-hour are going to be jammed up with last-minute bids, proxy and maybe snipes too. It all depends on how popular and attractive the item is in terms of collectability, appearance, current bid price, etc. As a rule, I allow 10-15 seconds lead time for such auctions on a weekday, 15-20 on a Sunday afternoon or evening. Remember that proxy bidders will be affected by a slowup just as much as your snipe will be, so don't worry about tipping your hand and getting a counter-bid.

Congratulations on your well-deserved "promotion," by the way!