Quote:
Originally Posted by perezfan
The phenomenon I will never understand is this (which happens ALL THE TIME...)
An item goes over a week with no bids at all. Then I place the initial bid on it. Within one minute it gets another bid (after a week or two of complete stagnancy). I can't count the number of times this has happened.
Are there really vultures who refrain from bidding for a week to 10 days, but are watching so closely that they pounce as soon as someone else bids? And what good is that strategy, given the fact that the closing is still a few days away?
What possible rationale do they have and what benefit do they derive from it?
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With our auction this actually makes sense. If an item only gets one bid it doesn't go into extended bidding (because there can be no competition) so some people hold out hope that they can scoop it up for that one bid right before extended bidding. Basically sniping it. But as soon as someone else bids they have to get their placeholder bid in so that they can bid in extended bidding. If you have several people watching the item what you described isn't just possible, but likely.