Quote:
Originally Posted by Vintagedeputy
I cannot understand the auction mentality of some people. I was watching a pennant auction. Starting price was $9.00 and it’s probably a $30 pennant. With 3 days left in the auction, someone jumped the bid from $9 to $33. Why? I can’t understand why people feel the need to bid so high with so many days left to go. Makes me crazy.
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I think one theory is that a high early bid going into the close will drive out some of those who might otherwise get caught up in the last-minute frenzy and keep bidding past their original intention. Or perhaps they don't snipe and just want to put in their max bid early in case they forget about or don't want to have to remember to do any more bidding. And doesn't the jump mean there is an underbidder at about the same level, and if so how can it be seen as unreasonable? To me, it's always seemed the best approach to put in your max bid early and let it ride. If you're really intent on grabbing something, put in a big max bid. That's just me, however.