In a message dated 1/31/01 2:57:56 PM Eastern Standard Time,
[EMAIL PROTECTED] writes:
<< Mafud's idea of one bidder wearing another down doesn't really work with
his example. >>
It does work (for me): it's *my* example.
By "wearing down" I mean if you are opposing me for an item, and my maximum
bid (which may or may not be the ultimate winning bid), but is large enough
so eBay is bidding for me (more than *you* or any bidder is willing to spend
on said item), and you think by pecking away at the last minute you'll win,
you're probably wrong to try. Why?
On eBay, the only "proxy" bidding is done for the highest maximum bidder
(me), no others.
Example: my maximum bid is $100. The item is at $61.50 with 5 minutes to go.
You want to outbid me, but to win, your last bid *must* exceed my maximum or
you get the dread "sorry, but another bidder-yada-yada-yada."
Now you have to rebid, trying to find the magic bullet (my maximum bid). With
2 minutes left, the bid (my proxy) has reached $78, still $22 from my
maximum, still $23 from anyone else winning.
Now, there is only 1 minute and you've figured it out: you bid $101 and try
to get it in-EEECHHH!
As has been noted, a poor Internet connection can foil the best of "sniping"
plans.
Suppose you *do* get it in?
I so-called "lose."
But then, by my way of thinking, I've just saved $100 on something I merely
"wanted," not "needed" (unless it's an AF280T flash to go with my AF400T).
But better for me, I *know* there's another one (whatever *it* is) *just like
it* coming down the pike sooner or later and I *do* still have my $100...
Remember: in those last hectic minutes, the highest maximum bidder only has
to watch, not break a sweat while eBay goes about trumping all bids lower
than his (actually eBay's); (look up "proxy") maximum bid.
Mafud
[EMAIL PROTECTED]
[EMAIL PROTECTED]
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