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CompUSA closing specials?
mpm32:
Yeah but why show your hand on the first day.
ChadTower:
Because you don't need a hand. You know your max, you put it up, and it either fails or wins. If you fail you bid on another item. It doesn't have to be a mind game.
Grasshopper:
--- Quote from: ChadTower on December 19, 2007, 02:05:08 pm ---
Because you don't need a hand. You know your max, you put it up, and it either fails or wins. If you fail you bid on another item. It doesn't have to be a mind game.
--- End quote ---
That strategy would be fine if everyone else did the same. But you're ignoring the psychology of the bidding process. People have a tendency to react to other bidders, especially if they're inexperienced. That's why almost all experienced Ebayers snipe. It's the best way to avoid getting into a bidding war.
The key to getting the best deals on Ebay is to do the following:
- Do your research both on and off ebay. In particular, look at what similar completed items went for to see what the going rate is. Also, check whether the seller is slowly drip feeding multiple items onto ebay over time. If he is and the price goes too high then you can always wait until next time.
- Bid only once.
- Bid as late as possible, preferably in the last few seconds.
ChadTower:
I'm not ignoring that psychology, I just have different goals. You have described the way to get something at as low a price as possible. That is not everyone's end goal. I bid what I will pay, and while I would be happy to pay less, I'm not there to nickel and dime the price down 15%. If someone is willing to pay more than I am then they get the item and I get to bid on the next one.
mpm32:
I snipe. Especially if I really want the thing. And if I bid conventionally, I won't bid until the last 5 minutes. And in those cases it's because I really hope I don't win the thing so I don't have to explain it to the wife. ;)
And I've been bidding at real live auctions for many years and I usually won't bid until the action starts slowing down there as well.
And if you have a set price why not shop at the store? What's the point of ebay if not to get the cheepest price possible. ;)
Also, what if there's no next item?
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