Quote:
Originally Posted by Exhibitman
Don't laugh, that is a viable strategy that I try to employ. A strategic bid can dissuade others from going into a card, especially where the bid increments are fixed sums rather than set percentages of the last bid. Take REA for example, which uses a fixed dollar increase. If you have a $500 bid, the next mandatory increment is $100 [20%]. Which equates a price jump with BP from $592.50 up to $711.00. If the item has a retail of around $700, by occupying the $500 tier you force the next guy to 'overpay' for the item.
The other thing that works when an auction allows a straight bid, like Legendary, is to play king of the mountain. I will sometimes place a straight bid rather than a max bid to prevent bargain hunters from pot-shotting my bid at a low number because the fewer people who place initial bids the less competition there is in O/T. If I get lucky, no one bids and the item closes at my straight bid. Of course, the art is not overbidding...
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Thanks, Adam, that's some great advice, and I'll take all the advice I can get when it comes to auction house extended bidding, at which I am a novice. It's definitely a different beast than eBay bidding with a set ending time. Auction house bidding is more like true auction style bidding.
Amazingly, my high bid actually held, so it worked this time! It was lot
80041, which I believe ended at a very fair price. Admittedly, someone with deep pockets could've come along and paid a couple hundred dollars more, and it still would've been a fair deal, so I'm pleased to add this one, finally.