Author Topic: Drat! I missed the winning bid on eBay for something I really, really wanted.  (Read 3068 times)

Yvette

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It is my own fault.  I thought no-one else would want to bid on what I wanted and didn't increase my bid.  :-(

Nevermind.  I'll keep looking.

Jockice

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What was it? Must admit, ebay is a total mystery to me. I've never even looked at it. However a friend of mine bought something using it on my computer when his wasn't working about three years ago, so I get regular 'valued customer' emails from them. If only they knew eh?

Minniehaha

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Aww, I hate it when that happens, Yvette.  >hugs<  Jockice, you old fraud you!  ;-)

boccius

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The way round being outbid is to put in your highest bid first, then go away and forget about it.

Viz, an item is currently 5. You are willing to pay 20. So put in a bid for 20.

It doesn't mean you will pay 20, just that as the auction proceeds, and new bids come in, your 20 will outbid them all. Unless, of course, someone else is willing to pay 21...

But doing it in this way, you don't get caught up in the adrenalin-rush process of bidding. Works for me.

A

Yvette

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Yes, I should have done it but didn't.  Am not on top form at the moment.

SunshineMeadows (on Sabbactical)

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Quote
The way round being outbid is to put in your highest bid first, then go away and forget about it.

Mr Sunshine says the same thing but I don't follow the advice because sometimes it is hard to gauge the value of something until you know other people are bidding on it. Classic laws of supply and demand come into play eg if it is a hard to find item people will be willing to pay more for it.

I buy most of my shirts/blouses from Ebay because while shops like Evans do do bigger sizes they often only sell the items I like for a very short time and then for ridiculous money like 35.

I am like Yvette, I really dont like something being snatched away and so use a bit more strategy lol. Highest bid then go back on the day the auction ends and see who else is bidding then when possible (if I really want something) go in in the last three minutes and add a higher bid  >taz<

boccius

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I am talking about the value of something to you, not its objective worth.

If it's worth 25 to you, that's what it's worth. If you really would pay 35 for it, then that's what it's worth - to you.

Ask yourself the question, "How much do I really want this thing?"

A

SunshineMeadows (on Sabbactical)

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Boccius,

I know where you are coming from it is just the value I ascribe to something can go up if I know other people are bidding. If I add a maximum bid and dont look at it again the other bidders have an opportunity to bid beyond my maximum bid and thereby see what I was willing to go up to. Sometimes this means I could get out bid by just 50p. Whereas if I make an initial bid lower than my maximum bid there is room for me to increase the bid when and if my initial highest bid is outbid.

There are pitfalls though because I can sometimes end up paying more than I should given my initial thoughts on the value of the item.

Also I have noticed that sometimes when I am the only bidder and I added a maximum bid on something of say 20 and the seller put a starting price of 99p, the bidding will sit at 99p until the very end when another bidder will start bidding. When I know the item is probably worth 100 I do wonder if the seller got a friend to bid up and I end up paying more.

The maths of it is easy but working out what influence human nature has is more difficult to predict.

Mr Sunshine completely disagrees with all this.  :-)

boccius

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The nub seems to be this:

and thereby see what I was willing to go up to

That shouldn't change. If something is worth 25 to you, it's worth 25 to you. Just because someone else wants it as well, it shouldn't change your opinion of it, otherwise you're just being swept along by auction fever, which of course is what Mr.Auctioneer wants to happen.

Make your mind up. (possibly echoing Mr Sunshine M.)

A


stalwart

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The reason you get outbid at the last moment is because people use snipers which you place a maximum figure and then it will go up in pennies until your maximum is reached.

www.en.wikipedia.org/wiki/Auction_sniping

boccius

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That's an interesting article, Stalwart, thanks.

Doesn't change the essence of the problem, though, which is knowing just how much an object is worth - to you - and thus avoiding both bidding wars and auction snipers.

A

stalwart

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Yes, but it helps with auction fever, as long as you set your price then don't look until it's over >whistle<

seegee

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I think I looked at e-bay once (not intending to buy, simply to see what it is as so many people use it) - totally overwhelming, far too much information to process.  I didn't register of course.

I'm with Allen though; an item is worth (in money) what you are willing to pay for it, neither more nor less. 
The crown jewels may be valued at billions, but to me they are probably worth nothing - not the cost to travel to where they are kept or the entry fee to look at them, let alone what they are supposedly "worth".

Hurtyback

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I have used snipers in the past with some success, most of them offer free trials.

boccius

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I think it's the same as gambling (which I don't) or lending (nor that).

You should only gamble what you can afford to lose.

You should only bid what you think something's worth (to you).

If what you're after is a bargain, something cheaper than it ought to be, then I'd question your grasp of 'The Market' in general!

A