8 Feb
2011
8 Feb
'11
12:29 p.m.
On 2/8/2011 12:38 PM, Tony Duell wrote:
This is not a function of sniping.
If the $20 bidder was an early
bidder, you still would have won at the same amount. By definition,
assuming snipers would have bid either way, sniping cannot push prices
up more than early bidding. If every sniped bidder bid early, either
the item sells for the maximum bid placed during round 1, or someone
puts in a round 2-n higher maximum bid. Thus, as the time to place 2-n
round bids approaches 0 (the snipe), the maximum bid settles on the
maximum of round 1 bidders amounts.
Jim
That makes no sense.
sniping does not drive up prices like early bidding does.
Of coursei it does. If I
(early bid) $50 for an item with an opening bid
of $5, say, and somebody snipes me at the last minute with a $20 bid,
then the price I have to pay has been driven up.