Quote:
Originally Posted by AGuinness
How do auction houses come up with their bid increments? Last night, I was interested in a card in the Leland's auction, which was at $76 (before juice and shipping). The next increment was $101, and when including the juice, the final price would have been above what I was willing the pay for it. However, at say $89, splitting the difference, I would have placed a bid.
Seems to me the bid increments, in some cases, may dissuade bidders.
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100% agree. beyond stupid. Certainly losing me on lots of auctions.
I buy most of my stuff on e-bay, but saw something I liked at one of the big auctions houses. Current bid was $5,000. Bid tab only let me put in $5,500 and select "up-to" bid. i actually wanted to bid at $5,700, but the bid software wouldn't let me. It was either $5,500 or $6,050 becasue of the increments
So I clicked on $5,500, which would force the next bidder to $6,050, and with the 20% buyers fee, would put them over the value of the item. Still with me?
so my bid goes in and the price goes to $5,240 and i'm current high bidder. Good, I've got some room for the shillers. Go back to my day job as I don't have time for the idoitic mulitple closing of the auction. Check in for the final price and it sales for $5,650.00. Wait a minute. WTF? How could another bidder only be 2% over my high bid. I had to put in 10% increments but someone else gets 2%?
I'm done with this BS. You essentially need two accounts to find the sweet spot for bid values. Or get a degree in bid increment analytics. This is a enjoyable hobby for me, not school. Can't wait for most of these AH's to be put to rest by PWCC.