I am doomed. Utterly doomed.

[gerisullivan]

I just became a registered eBay user. It's my first time. Yes, of course I did so to bid on something. It's a very low-cost item. Yeah, right.

I am doomed.

I am not, however, going to increase my bid. Either I'll get it or I won't.

It's not even what I went looking for.

Of course it isn't.

Doomed. Doomed. Doomed.

I am suspiciously cheerful and confident for someone who has successfully avoided this fate for the last decade and more.

Film at 11. In the meantime, advice for an eBay neo would be very welcome. What mistakes should I endeavor to avoid? Well, beside the mistake of registering in the first place?

Comments

[smofbabe.livejournal.com]

The first time I bid on something on Ebay, I naively bid the max I wanted to pay, and figured I'd get it or I wouldn't (and I naively bet an even dollar amount, too). Then, I discovered that the standard way things are sold on Ebay is as follows: naive people bid the max they want to pay. Between 3 - 5 minutes before the auction is about to end, experienced Ebay buyers start sitting on the item and take it away from the naive bidders by figuring out how much the max is and adding $1 or something similar.

I railed against this practice but it's so common that I've given up complaining about it. I now wait until near the end of an auction, put in my price, and keep updating to see whether the price is increasing. If so, I might go an extra few dollars if I love it but as everyone else said, be careful of being caught up. However, I also hate to see people lose an item when a tiny bit more at the last minute might secure it because unfortunately that's how the game is played.

I echo other caveats about shipping charges, checking the going price for items elsewhere, and reviewing feedback. I've only been burned once on Ebay and have bought many, many nifty things -- and sold some excess stuff for bucks -- have fun!

[mjlayman.livejournal.com]

But that means you didn't bid your max to start with.

[sethb.livejournal.com]

If you're willing to pay "an extra few dollars" why didn't you bid them in the first place? It won't cost you anything unless the next bidder is willing to pay more than your original bid and less than your "few extra dollars" bid.

[minnehaha.livejournal.com]

See. I told you. It's all psychological. This isn't "economic man" talking.

B

[smofbabe.livejournal.com]

If you're willing to pay "an extra few dollars" why didn't you bid them in the first place? It won't cost you anything unless the next bidder is willing to pay more than your original bid and less than your "few extra dollars" bid.

Because the max is often not the "Absolute max, I won't pay a penny more" price. It's usually a round-number max that is approximately the max you're willing to pay. Also, as minnehaha has said, if you post your max right away, you set the bidding war at that price.

Second point is self-evident. Regarding the first point, if I set, say, $25 as my max but it's something I really, really want, and someone snipes at the end to $26, I'd probably bid $27 to get the item. It's $2 above my max but not *that* much more than my max and because it's the last minute I know I've won the item.

[sethb.livejournal.com]

But if you bid $25, and the second highest bidder bid $15, then the sniper only sees $16 as your current bid. Does he have time to bump it to $26? (Or, if he offers $30, you'll see $26 and your $27 bid will only make him pay $28.)

I agree with the idea that an auction shouldn't end for 5 minutes after the last bid (at least, that should be a seller option).

[smofbabe.livejournal.com]

But if you bid $25, and the second highest bidder bid $15, then the sniper only sees $16 as your current bid. Does he have time to bump it to $26? (Or, if he offers $30, you'll see $26 and your $27 bid will only make him pay $28.)

Not sure I can explain this psychological game but I'll try: Your scenario is that you bid $25 originally as your max. Other people who bid less are always going to be outbid until someone reaches slightly beyond that, and so the auction runs up to $25 before the end. Then, at the end, people who come in last minute start bidding even higher.

However, what if you don't put in a max of $25, but of $15, even though you're willing to pay $25. The bar at which bidding over the maximum bid starts might then be $15, not $25. (It might also be $25 from someone else but maybe not.) The last-minute "outdo each other" bids then start at a lower rate. Possibly if the wrangling starts at $15 at the last minute, time runs out before it can even get to $25, your original max, so someone (hopefully you) gets the item for less.

Think of it as poker, and not showing your best hand too early and thus running up the bets too quickly. I'm not saying this is fair, but it does seem to be how Ebay mostly works.