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Sniping is another one that makes me sadOriginally Posted by P3R3
Don't understand the logic here. You bid your maximum amount (presumably) yet your not happy you were outbid at last minute? The fact that it was last minute or two hours before what does it matter? Bottom line is that your max. bid wasn't high enough.Originally Posted by Zubberah
Well I would have gone higher had I gotten the chance. The thing about snipers is they will bid exactly $1 more than you at the last second, basically anything reasonable would have been sniped. I am working a strategy to beat these guys though.Originally Posted by P3R3
Well I would have gone higher had I gotten the chance. The thing about snipers is they will bid exactly $1 more than you at the last second, basically anything reasonable would have been sniped. I am working a strategy to beat these guys though.Originally Posted by P3R3
But they don't know your max bid, they only know that you are the max bidder and your bid is at least the second highest max bid plus the increment. Which are you more afraid of: Losing to a sniper or having your bid pushed up at the last minute by a sniper? If your max bid is no more than what the object is worth to you, then if you win you still come out ahead; and if you lose, you didn't want to win at the winning price anyways. I think you'll find, when you work out your optimal strategy that, if you're going to bid at all, it never pays to bid less than what you're willing to pay. And if you do that, you should feel no additional regret for losing in the last minute rather than a day before the end.Originally Posted by augustin
No, I am a computer engineer and I know people that wrote programs to do this. These programs can bid multiple times per second to find what you max bid is!Originally Posted by P3R3
Yeah, but that's the point --- you pay for the privilege. I didn't suggest that you couldn't, just that you wouldn't unless you were willing to pay 71, in which case I shouldn;t have expected to win at 50 whether you are sniping or bidding three days before the end of the auction.Originally Posted by augustin
Its cool, I found a way to beat the snipers at their own game, by placing a lower bid then have a succession of higher bids. Thats how I won my Golf Driver last night.Originally Posted by P3R3
Its cool, I found a way to beat the snipers at their own game, by placing a lower bid then have a succession of higher bids. Thats how I won my Golf Driver last night.Originally Posted by P3R3
In some auction systems everyone just makes a blind bid once, without seeing the other bids, and the winner pays his own price, or the second highest priceOriginally Posted by Great Zamfir
At least in sealed bid auctions, the conventional wisdom is that sellers do better with a second price auction than with a first, because the incentive for bidders to lower their bid to shrink the amount you pay is not there.Originally Posted by augustin