Bidding Strategies

[zljones]

Originally Posted by doug.goodman

In an auction like ebay with a fixed end time, the logical way to spend the least money is to bid your maximum amount at the last possible second.

In an auction with a moving end time, the logical bid is the next increment at the next possible second. You have to outlast the competition.

Doug

I am one that is a sniper bidder. I bid at the last second for two reasons. One because when I drop that last second high bid the other bidder(s) often do not have enough time to think about how to outbid me since they have about 5 seconds or less to decide to ever try outbidding me. A last second bid puts other bidders in panic mode as they have to quickly decide what to do. and often bid too low. The second reason I do it at the last second is because I can not sleep if there is something going I really want, I sit there and I watch the seconds tick away.

Because of bidders that go to bed at decent times (unlike me) or are busy on Friday and Saturday nights (like I am), I always put up things I want to sell on Sunday nights at around 8pm central time. That is the most likley time everyone is relaxing and ready to bid before bed and they are done running around during the week or on the weekend.