Snipes are killing ebay auctions

[53Browns]

It's time for my "stupid question" of the day. What is an auction snipe? Help? Thanks in advance!

~Bill

[Rich Klein]

That Barry or it might have been another dealer that when no bids come in on items earliy -- that could be a sign that there is no interest.

From the seller's view, I understand this totally, instead of risking a major loss thay cancel the item and go home.

WHat might work for BOTH sides is for a "middle ground" bid to be put in, that middle ground bid would show the seller that the items do have interest but you are still not tipping your hand as to how much you want to bid. If I were a seller and I had a item which usually sells for $100 and saw a $50-60 bid, I might let it continue to run. If I only see a $20-25 bid -- I might say enogh is enough and take the item off.

Regards
Rich

[mintacular]

What is an auction snipe? Help?--There are programs such as Gixen that I use whereby you can set a snipe or high bid on eBay auctions, sniping is perfectly legal/acceptable.

So if you see a 1954 Aaron you like with 6 days left or whatever and don't want to wait around you just simply place your snipe/high bid and the program will place your bid with 1-5 seconds left in the auction. This sniping allows you to place a bid at the last moment so no person will see your bid in enough time to counter it with a higher one. In theory you should win more auctions, and for a better price.

[insidethewrapper]

The sellers on Ebay should set a "Reserve" Minimum and not allowed to end their auction early. That's the purpose of a reserve.

Also, how to the snipe websites make money if it is free. Any problems with giving them your ebay password ? Thanks

[egbeachley]

Originally Posted by insidethewrapper

The sellers on Ebay should set a "Reserve" Minimum and not allowed to end their auction early. That's the purpose of a reserve.

Also, how to the snipe websites make money if it is free. Any problems with giving them your ebay password ? Thanks

Agree about reserves, sellers should use them instead. However there is a large population who have a fit when they see an auction has a reserve and refuse to bid on it. But admittedly, they should be used judiciously at, say 70%, of card value. Doesn't do anyone any good to set the reserve at where the BINs are at now.

I assume snipe websites make money by advertising.