Different bidding patterns

[ALR-bishop]

I guess I need to devise a strategy.

[bnorth]

Originally Posted by ALR-bishop

I guess I need to devise a strategy.

You will be OK Al. I have tried many bidding strategies on eBay to scare away other bidders with no luck.

[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?

[ruth-gehrig]

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?

Not a whole lot makes rational sense when it comes to bidding strategies in my opinion. I gave up on thinking much about it a long time ago . I think people allow their emotions to get involved which really throws clear thinking out the window lol

[Yoda]

I think whatever your strategy you have to figure in bidder madness during extended bidding.

[Peter_Spaeth]

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?

Does this happen more with particular auctions?

[Snapolit1]

Many times I visit auctions I check out "Recent Bids".

I often see something cool this way and throw down a bid. Gets me out of my usual searches.

I do appreciate how this can look odd, coming out of nowhere.

Originally Posted by Peter_Spaeth

Does this happen more with particular auctions?

[JollyElm]

1055. The Multiple Bid Absurdity Principle
The rationale that any bid you make during the course of an auction is a wasted bid, because it harms you by needlessly and artificially raising the price of the item. Logically speaking, the ONLY bid one should ever make is an all-in, last moment snipe bid.

[perezfan]

Originally Posted by Peter_Spaeth

Does this happen more with particular auctions?

Here's who comes to mind, regarding that circumstance...

Huggins & Scott
Heritage
Lelands
Clean Sweep
REA
Hunt's
Mears
Memory Lane
Mile High
Hake's

Other than the fact that REA now owns Huggins, I see no commonality there. So I would say it's a widespread phenomenon.

[raulus]

I guess LOTG is exempt from those patterns!!??

[perezfan]

Originally Posted by raulus

I guess LOTG is exempt from those patterns!!??

Haha... good observation! I could not think of an instance that it happened with LOTG (and I bid with them a lot!)

[Aquarian Sports Cards]

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?

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.

[Peter_Spaeth]

Originally Posted by Aquarian Sports Cards

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.

I don't think Mark meant the item had NO bids and then he opened it, I think he meant there had been no ACTIVITY for a week, but he can correct me.

[vintagerookies51]

I used to bid mainly on eBay, where 10 years ago everybody (including me) seemed to be using a sniping service that would double or triple the auction price in the final seconds. That doesn't seem to happen as much anymore, at least on the stuff I'm selling and bidding on.

I honestly don't really like the bidding on auction houses, where you're required to make an initial bid and then there's no last minute action with the way they close. It has its benefits though.

[BioCRN]

Originally Posted by vintagerookies51

I honestly don't really like the bidding on auction houses, where you're required to make an initial bid and then there's no last minute action with the way they close. It has its benefits though.

I know many people like the never-ending extended bidding grind, but I'm 100% bid to my max before going into extended bidding or shortly afterward.

I refuse to get into that sleep-robbing dopamine rush of 15-minute doses of bidding that goes on for hours. I'm an East Coast person. I refuse to play those games for my own sanity.

[Aquarian Sports Cards]

Originally Posted by Peter_Spaeth

I don't think Mark meant the item had NO bids and then he opened it, I think he meant there had been no ACTIVITY for a week, but he can correct me.

"An item goes over a week with no bids at all. Then I place the initial bid on it"

[Peter_Spaeth]

Originally Posted by Aquarian Sports Cards

"An item goes over a week with no bids at all. Then I place the initial bid on it"

Ah I missed that. But still not sure I understand it, as people would have to place an initial bid anyhow, no?