HUGE max bids, i.e., $200,000... for $50 item

You would win with a bid of $202.50

and Welcome

ps best to ask eBay questions in the GENERAL area.



[This message was edited by puppy_raiser on November 30, 2003 at 02:00 PM.]

I'm not sure that would be accurate. Since the item was only $25.00 and at the last 6 seconds someone sniped it at $200, wouldn't it keep telling them that they have been outbid? How many other bids could they they post in the last 5 seconds?

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Originally posted by puppy_raiser:
You would win with a bid of $202.50

and _Welcome_

ps best to ask eBay questions in the GENERAL area.

http://home.twmi.rr.com/keithspage/images/dog001.gif http://home.twmi.rr.com/keithspage/images/life.gif

[This message was edited by puppy_raiser on November 30, 2003 at 02:00 PM.]

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Thanks for the welcome! I like your dog motto

Yes!

The snipe bid for $200 would be placed. They would not have time to bid again, so your $200,000 bid would be the high bid. The next bid increment up from 200 is $202.50.

you're giving my secrets away.

I appreciate you helping me figure this out (and it's kinda tough via this format, but hang in there with me).

My understanding is:

If the item was $25.00, and they sniped a bid at 6 seconds for $200.00, they would only end up paying $27.00, right (they are the highest bidder).

So, at 3 seconds, if I sniped a max bid of $2000, the item would be sold at 29.00 (since I was now the highest bidder).

If this is incorrect, please let me know before I loose my home Thanks!

NO !!!

Auction Sniper does not bid in increments. They bid your Max the first time.

The first bid by the $200 snipper is $200.

Correct! You are right....but Ebay continues going up in increments..not directly to the highest bid. In other words, I have bid higher than I have paid. For instance, I bid $75.00 and only paid 2 dollars more than the second highest bidder. Their highest bid was $60.00, and mine was $75.00, but I only paid $62.00. (Ebay doesn't diferentiate between AS and a regular bid does it?)

I have to think about this a bit. I've actually worked out if a regular bidder only had a few seconds to outbid my highest price (200,000), they would only up the price a few dollars.

HOWEVER, if there were 2 AS's going at the last few seconds with extrodinarly high max bids, they both could get in trouble...I think..

I think you/ve got it.

The winning bid is the lesser of 1.) second highest bid + one bid increment, or 2.) max bid (if entered before second highest bid)

only one would get in trouble for this auction.

I meant one person could be looking at a very high Ebay bill (not both)

Thanks for helping me work through that! I made a very high bid on a $25.00 teapot the other day...

So...

If you're not willing to pay $2000 dollars for something, don't bid that much, wether its a snipe or not!

Jak,

The Pupster has done a good job answering your question.

You seem to think there is a difference between manually placed bids and sniped bids. To eBay, a bid is a bid, whether it is placed 3 days before the end of the auction or 3 seconds! The bids are handled the same way by eBay.

Bottom Line: The bidder with the HIGHEST bid wins the auction. The winning bid AMOUNT will be the next valid bid increment above the SECOND HIGHEST bid.

Snipe on!

Jabbergah

In other peoples words. Just bid the very maximum you are willing to pay for that gizmo. Unless that gizmo is worth the 200,000, better back off to what it is truly worth to you. GOOD LUCK

"Shop" and My Snipes

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Just bid the very maximum you are willing to pay for that gizmo. Unless that gizmo is worth the 200,000, better back off to what it is truly worth to you.

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I agree. You might get surprised by a shill bidder who keeps upping the price on you. You just may end up having to pay $1500 for a $25 teapot.

Not likely though. People that use shills to bid up their merchandise don't want to chance getting stuck, so they normally only bid it to a normal sale price and back off. Besides, what a silly thing to worry about. Bid in your snipe the max you will pay and go watch a movie.

The first I heard of this strategy was at one of those anti-sniper forums. Some of the posters said that a sniper strategy was to snipe a huge bid in the final moments of an auction. The intention was to win the item one bid increment higher than the highest non-sniping bidder. The ASSUMPTION, I guess, is all the non-sniping bidders will NOT bid much more than the actual market value of the item. The result would be the sniper would ALWAYS WIN the item at right around true market value.

There are a few falacies with the strategy. 1) As was mentioned earlier in this thread, sometimes some people just get carried away in these auctions and bid amounts HIGHER than actual market values for items. Then when Mr. Sniper comes along with the Mega-Bid, sure he wins, but at an overinflated price. 2) What happens if/when TWO Mega-Bid style snipers bid the same auction? One of them will end up paying the Mega-Bid of the other!! For instance, say the current winning bid of a $50 widget is $35 held by a manual bidder who has a proxy of $60. Mega-sniper#1 snipes a $1000 bid and Mega-sniper#2 snipes a $500 bid! Congratulations, Mega-sniper#1! You've just won a $50 widget for $505!! And don't forget to add that s&h, too!

I was humored when I read this so-called sniper strategy, because I don't think there is ANYTHING I want with money-no-object terms! In fact, I'm not interested in paying true market values for items -- I want BARGAINS! Maybe I'm influenced by the fact I'm not an avid collector of anything. Collectors of something that is intrinsically rare to some extent may more feel pressure to get that item that will complete their collection of widgets, and therefore may lean in the money's-no-object direction!

Like was recommended by others, don't snipe a bid that you would regret if the bidding actually DID go all the way up to your MAX!

My 10 cents...

Jabbergah

And, your 10 cents is my 10 cents, exactly, Jabber!

Well, my first big snipe is just 24hr or so away. I’ve only seen one other exactly like it in 2 months now. It went for almost $900! Current price is less than $275, but this type item brings LOTS of late bids. The other one had 4 bids in the last 60 seconds! Seller left some vital info out of the title, so hoping those guys with the deep pockets don’t find it. Keep your paws crossed for me.

Night all.

If I can have the praying dog, I'll keep my finger crossed for you!

A dog for a dog. Sounds like an even exchange.

Take it! You gave me the OMG dog.

Best of luck. All you can do is bid your max and hope for the best. We are pulling for you.

"Shop" and My Snipes

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In fact, I'm not interested in paying true market values for items -- I want BARGAINS!

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Me too Jab! Even if it's something I can't buy locally I still try to get a bargain on it. Sometimes I do and sometimes I have to decide how bad I really want it. Sometimes "want" wins out over "bargain."

Did you win the big snipe you mentioned in this thread?

Jabbergah                                                    

NO ! !

This was one of those auctions I should have bid manually at $500 or so first and then snipped.

Current price with 1 day left was $275 or so with 4 bids. The seller cancelled all bids and ended auction early. Guess he was afraid of the selling price being to low. Item was never relisted by the seller.

...but thanks for asking.

That's a shame, Puppy. Did you ever follow up with an e-mail to the seller to see what the scoop was? Was is sold off ebay? Did he plan to relist? etc.

Jabbergah                                                    

If he hasnt already relisted I'd say it sold off ebay.

Lexie

No, no follow-up. I'm sure he knew what it was worth. Only collecters spend the bucks to get one in the first place.

His reply would have been. 'Well, you should have bid on it!'

Probably in his safe, and will try again in 6 or 8 months.

You might try sending an email that says "I didn't see your auction until after it closed, is it still available?"

Puppy,

I'm with Shirley on this on the followup e-mail. However, if you are uncomfortable with the little white lie Shirley's e-mail would entail, just say, "I didn't get a chance to bid in your auction until after it closed, is it still available?" Then if the guy is willing, arrange a purchase off ebay. Or if he (or you) is a stickler to observe ebay TOS, come to an agreed BIN price. He can do a cheap relist (no extra pics or extra cost listing frills) of it at an agreed time at the agreed price, and you POUNCE on it immediately!

Shirley & I think it's worth a try!

Jabbergah                                                    

No, the white lie doesn't bother me. It's been over a month now. To late....

Another will come down the pike. No time limit on how long I'm willing to wait. I don't need it, I just want it.

Puppy,

I can be RELENTLESS when spending OPM (Other People's Money)! This'll probably be my last run at this, and then I'll let you go!

OK, you mentioned you think it is too late since it has been over a month since the cancelled auction. If you REALLY do want this item, I still think it's worth a shot. You might even be able to get a DEAL, especially since you think the seller may have cancelled due to low bids! He may feel the demand for the item is not as good as he thought -- may make him more flexible on price.

Your e-mail can say, "I didn't get a chance to bid in your auction until after it closed, and I was hoping you might relist? Is it still available? Would you be willing to accept $XXX for it? If not, what amount were you hoping to realize for it?" or something similar. Open negotiations with a lowball offer, you never know the deal you might get!

I DO get the impression this item is more firmly in your "Like to Have" column than in your "GOTTA Have!" column! Either that, or the widget is not EXACTLY what you're looking for? Maybe missing some features that you'd like it to have? Even so, it would still be an interesting exercise to run out the lead. If/when you get a response from the seller, no matter what the price is (unless it's what you offered!), you can always say "Thanks! That seems like a fair price, but no thanks. I was hoping to pick up the widget for less than that." or whatever.

OK, I'll let go of the issue now!

Jabbergah                                                    

...a dead horse, comes to mind, doesn't it!

Jabbergah                                                    

...When I can't think up new topics, I just revive dead ones!

Jabbergah                                                    

Sorry Jabber, had to run out for a while.

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more firmly in your "Like to Have" column than in your "GOTTA Have!"

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yep!

Puppy,

I LIKE the award! I wouldn't be surprise to see it appear after other posts I do!

Jabbergah                                                    

There are several that deserve it Much more than you. (like LS).

Windy is just fine, it's repeating the same nonsence time after time that gets my new found award.

Hi Puppy, How did this bid come out?? You've left us hanging on a string, on pins and needles, etc....

"Shop" and My Snipes

Hi Shop !

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Shop:
How did this bid come out??

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What bid?