Some people just don't get it!

quote:

This whole sniping thing is one of the larger gigantic wastes of time and fury I can think of.

LOL!! If this person thinks sniping is a gigantic waste of time, what must they think of a STUDY and analysis of sniping?!

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.

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!