Is snipe bidding killing the hobby?

[Leon]

Originally Posted by cfhofer

You are spot on Drcy!

Let's be honest...we don't snipe bid to just avoid "shill" bids. We snipe bid to avoid "ANY" competing bid, even legitimate ones. It is exploitation of a flaw in eBay's auction system. Correct me if I'm wrong but it is the only auction house in history to function this way.

The purpose of an auction is to sell an item at fair market value. How does a flurry of snipe bids in the final 10 seconds determine fair market value? Now there are some items, say a 1968 Topps Nolan Ryan PSA 7, that the market value is pretty well established. But how much should someone pay for an 1894 Varsity Yale Football Pach Bros photo? Our hobby needs the back-and-forth of bids to determine that. That is healthy for our hobby.

Heritage Auctions owns Gavelsnipe.com and you can bid/snipe (maybe) in Heritage from their sniping service.

And, to me, the flurry of snipe bids is true market. (unless they are shills). I only put in snipes ( I snipe 98% of the time, the other 2% I want the adrenaline rush) when I want something, and absent fraud, others do the same thing. How can that not be true market? In reality no auction in the world has 100% of interested buyers in their auction. I bid in a ton of auctions, ebay and otherwise....and help run a small auction company, so have my own views..... Fun debate.....