High Bidders Who Overbid on Ebay?

[frankbmd]

Increasing your max bid on Ebay does not require any minimum increment. If a bidder is the high bidder at $99.99, he can then sequentially place bids of $100, $100.01, $100.02, $100.03, etc. for as long as he wants to. The bid count will go up, but otherwise nothing changes. An underbidder seeing a string of overbids by the high bidder could react in several different ways.

1. He could be intimidated thinking the high bidder was out to win at all costs.

2. He could be vindictive and sequentially increase the bid slowly to force the high bidder to pay more.

3. He could be seriously interested in the item and raise the bid in a playful manner to determine if there was any pattern (ie fixed increment) to the overbidders pattern, so as to determine what a successful snipe bid might be without shooting the moon.

There may be other motives for either bidder, either of whom might be accused of shilling with a pattern such as this, but starting another shilling thread is not my intent.

I have considered the string of penny overbids to intimidate other bidders, but have never done it. All it takes is one underbidder, who doesn't even realize he is being intimidated to foil that strategy. Otherwise it just seems foolish to me to overbid multiple times as the end result will probably be a higher price paid regardless of which party wins.

If the high bidder has overbid just over the previous high bidder and below the incremental bid, which is easily determined, a single overbid to establish a new unknown threshold seems like a fair strategy.

I guess my question is how do members react when they see a string of 3 or more bids by the high bidder at the top of the list. Are you intimidated (#1), vindictive (#2), just a playful pattern seeker (#3), or suspect a shill (#4)?

I suppose (#5) should be added for those who place such overbids. And I would ask your reasoning for such bids, if I am missing something.

Added note: My son's PhD thesis was on "Auction Theory", which we discuss from time to time. I guess he's just a chip off the old block.

[Sean]

Frank, if I really wanted the card I would respond with a #3 strategy, trying to guess the pattern and ultimate high bid. I might get carried away and bid more than I had planned. I would have to really want this card, though.

[HRBAKER]

Frank,
Sadly I have reached the point where I assume that almost nothing on ebay is an "arms-length" transaction, so I set a snipe for the most I am willing to pay and move on.

[Runscott]

Originally Posted by HRBAKER

Frank,
Sadly I have reached the point where I assume that almost nothing on ebay is an "arms-length" transaction, so I set a snipe for the most I am willing to pay and move on.

Ditto - no head games for me with ebay.

[frankbmd]

Sean, I'm with you on #3.

I fully realize there are many one time max bidders with a take or leave it strategy out there.

I also realize that everyone doesn't have time for head games, but the idea of placing a list of overbids just seems to invite curiosity or vindication to the determent of the overbidder, which was really my point.

[doug.goodman]

The only bids that I pay any attention to, on items I am interested in, are those that are for more than I am willing to pay for the item. As soon as I see one of those, I lose interest in the item.

Doug

[Shoele$$]

Originally Posted by Runscott

Ditto - no head games for me with ebay.

Exactly, I NEVER bid on ANY auction until the final 10 seconds......that's my rule. If my highest and best snipe doesn't take it down, oh well, I tried. It actually really annoys the living f*ck out of me when I see two jack asses bidding back and forth litterally for days.......silliness.

[Sean]

Originally Posted by Shoele$$

Exactly, I NEVER bid on ANY auction until the final 10 seconds......that's my rule. If my highest and best snipe doesn't take it down, oh well, I tried. It actually really annoys the living f*ck out of me when I see two jack asses bidding back and forth litterally for days.......silliness.

I actually get a laugh out of this kind of bidding, because it gives me an idea of how much they will each increase their bids, and I know that if I really want the card I can beat them. I usually still lose it to guys who use your last second snipe stategy.

[doug.goodman]

Originally Posted by Shoele$$

Exactly, I NEVER bid on ANY auction until the final 10 seconds......that's my rule. If my highest and best snipe doesn't take it down, oh well, I tried. It actually really annoys the living f*ck out of me when I see two jack asses bidding back and forth litterally for days.......silliness.

Finally! Somebody else who understands.

[HexsHeroes]

Originally Posted by Shoele$$

Exactly, I NEVER bid on ANY auction until the final 10 seconds......that's my rule. If my highest and best snipe doesn't take it down, oh well, I tried. It actually really annoys the living f*ck out of me when I see two jack asses bidding back and forth litterally for days.......silliness.

. . . near the start of an eBay auction, so that the seller knows there is another interested buyer before considering selling outright to someone else.

My strategy developed from having lost out on items due to waiting to place my initial bid (snipe) at the very end, and having the seller end the auction unexpectedly. I have always assumed the seller got an offer contingent on ending the auction early. My strategy is far from full-proof as a small number of auctions have still ended early (with me out of luck) but I have also benefitted from afew eBay messages from sellers requesting counteroffers to other offers made to them. And for those that ended early without my having had the opportunity to make an offer, I have always followed up with the seller to let him know how much I would have offered. Never resulted in gaining an item, but maybe helped the seller change how he considered outright offers, and may yet benefit me in the future.

[EvilKing00]

Originally Posted by HRBAKER

Frank,
Sadly I have reached the point where I assume that almost nothing on ebay is an "arms-length" transaction, so I set a snipe for the most I am willing to pay and move on.

same here

[atx840]

Originally Posted by CW

http://www.gavelsnipe.com/index.php

+1

[ullmandds]

I don't analyze bidding patterns for shilling...or suspicious behavior...nor do I play major bidding games.

If an item is one I really want I will place my max snipe...and I usually forget about it until it's over...or I'll watch the countdown to see if I won.

I also often place a bid I'm comfortable with...not necessarily the next bidding increment so I don't see these little bump bids.