Another Newbie Question

You got it.
Enter your snipe at AS and don't bid early on eBay.

Sometimes it's soooo tempting to put in an early bid on an important auction, but that calls attention to the fact that you're interested in the item and the proxy bidders will feel like they have to bid higher to overcome your bid. That drives up the price.

Right on - the only exception seems to be if it's an ultra-rare collectible item that is going to fetch big bucks whether you bid early or late.

I'm not sure AS is much help in that kind of auction, since eBay gives the auction to the earlier bidder if both bids are equal. I think it was Rick who pointed out a long time ago that the only reliable way to win something like that is to place a really large proxy bid early in the auction, and hope no one else has pockets deeper than yours. I tend not to bid on those kinds of things on eBay.

quote:

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place a really large proxy bid early in the auction

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I agree except for the early part. I see little difference in bidding for the very common, or the very rare. Your best choice is to stick with sniping. The higher the price, the less chance there is for a tie.

Doesn't sound like Rick to me. Maybe you misunderstood... how about earlier, like 15 seconds instead of 7?

I defer to your knowledge, Puppy, as I think you must bid more often on that kind of thing.

But I was thinking of a post months ago in which (I think) Rick said the only reliable way to win those "one-of-a-kind, never see it again in your life" items is to place a really huge bid, like 2-3 times what the item would be appraised at, and get your bid in early so that you'll beat all equal bids. Obviously not all of us have this option.

I can see how this might work using a snipe, too, but with a snipe you're taking the chance that one of the proxy bidders has already placed a bid larger than yours, in which case they'll win. I'm acquainted with a person of considerable means who does this. When he's really serious about acquiring something, he bids high and early, and I think his win rate is close to 100%.

(Rick, please do correct me if I've misinterpreted what you posted.)

Gordo,

Is this the post?
>> here <<

Yes, that's the one! Thank you, Rick.

That whole thread is a good read, too. Obviously there is some intelligent disagreement about the matter.

The problem with bidding a lot more than the item is worth is that someone else might do the same thing and then either you or the other person will end up buying it for that price or (probably) getting a NPB and a negative.

Trust me, when the person I'm thinking of places a bid, he's good for it.

The only time he withdraws a bid is when the item in question turns out to be a fake - which should give you an idea of the rarity of the things he bids on.

And no, he's not Bill Gates.

Here's an example of what happens when two nuclear bids collide:

<<click here>>

Cool example, Falcon Gal! Imagine financing a....SWEATSHIRT!

That is just hilarious!

Yeah, a one of a kind... Abercrombie & Fitch.
Wow.

If ownership FAR outweighs ALL other considerations, including bankruptcy, then placing an unmitigatedly high proxy bid would still be my recommendation. As long as all parties to the auction adhere to their obligations, the person that bids the highest gets the goodie(s). Sniping can reduce the amount one has to pay (rational snipers wouldn’t pay a sniping fee unless they expected to have a lower closing price), but in this case, ownership is the priority instead of cost. A snipe does have some drawbacks, in that it doesn’t always take place. Once a proxy bid is locked in – it’s locked in (other than a seller that doesn’t like you, or the item is cancelled - which is less likely when someone has placed a proxy bid). With a proxy bid, such things as Ebay’s surges, outages, server problems (ebay’s or AS’s), maintenance, worms, full moons, bugs, temporary insanity, or acts (Why do they call them acts?) of nature are no longer considerations (although those are rare, they aren’t impossible).

Using this method (known as the “Money Is No Object” method) won’t please those that inherit your estate, but if having the particular item is the most important thing to you, and you have MINO bucks, using this method will improve your life while you are alive (redundant), and help the seller to afford to send his/her children to an Ivy League university and/or afford a Porsche.

Well, as another acquaintance likes to say, you will never see a hearse with a Brinks truck following it.

Who was it who posted those words of wisdom: "I have figured out that money doesn't matter in life... what I want is stuff"?

If you invest heavily in rare collectibles, your estate might even be worth more in the end, assuming the market holds up.