30 Sep
2010
30 Sep
'10
3:40 p.m.
On 9/30/10 5:33 PM, Zane H. Healy wrote:
Sniping is basically built into the system.
Note that "sniping" (or at least a form of it) isn't strictly an ebay
phenomenon. When I was attending many live auctions in days of yore, I
would employ a similar strategy, let the other folks determine a
baseline for your bid and wait for most of the other bidders to drop
out. Someone mentioned bidding at "going", I would do exactly that.
Obviously the main difference is that the bidding would then continue,
but it's a similar notion. Silent auctions also frequently work this
way, it's usually better to not drive the price up yourself by
continuously bidding against someone else, wait until it gets close to
the end and then engage in battle.