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eBay Auction Bidding Strategies--Overcoming the most Frustrating Situation on eBay


The Problem...

It's happened to the best of us.

You've been watching the auction all week, and finally you're about to claim your prize--a rare bronze statue from the Qing Dynasty. Or something just as tantalizing.

You log on a few minutes before the auction closes, and confirm that you're still the top bidder -- no one has challenged you in several days. You're already picturing "your" statue prominently displayed on the living room mantelpiece, your friends green with envy as you tell them about the great deal you got on eBay. You refresh the page a few times, to make sure you're still number 1. You even up your bid a little just to make sure no body tries to outbid you at the last minute.

50 seconds to go...30...10...the auction has ended and the statue is yours!! You refresh the page for the last time so you can see your eBay ID announced as the winning bidder. And that's when your heart drops to your toes. It's not your eBay ID at all, but some joker who calls themselves "SpeedyFingers123".

How could this have happened?

You were the winning bidder with only 10 seconds to go!! Speedy or not, it just doesn't seem humanly possible.

Well, you're right. No one is that fast. SpeedyFingers123 (I made that one up, so if it's your actual eBay ID, please don't sue me!) won the auction in the final 4 seconds. It isn't humanly possible because "speedy" didn't actually place the bid. The bid was place on his or her behalf, from a remote server, using something called Bidding Software.

You've Been Sniped!

The act of placing a bid during the final seconds of an online auction is called "Sniping" and it's perfectly legal on eBay. Bidding wars and sniping are an eBay sellers dream and a buyer's nightmare. Why, you're asking yourself, don't these people just use eBay's trusty proxy bidding process? Why not just discreetly enter the maximum they're willing to pay at the beginning of the auction, then let the cards fall where they may? Well, for a couple of reasons. First, it's not human nature. If all you have to do is outbid the next guy by fifty cents or even five dollars to win, wouldn't you?

Second, it doesn't make economic or strategic sense to place a bid anytime before the last five minutes of an auction.

Think about it. eBay encourages bidders to use the proxy system and place bids early. What this means is that an inexperienced bidder who wants an item will want to be the highest bidder right away, and will keep upping their bid to hold that winning position. They'll only stop when the bidding exceeds their budget. Then the next guy comes along and continues the process. If this starts at the beginning of a seven or ten day auction, and ends with a bidding war in the last 10 minutes, the final price for the item can spiral out of control. Many items sell for far more than fair market value because people get caught up in "bidding fever" -- all they want is to WIN, they're not even thinking about whether the price is realistic.

What to Do?

A better strategy would be for everyone to "watch" the auction until the very end. Again, there's two good reasons. One, the price doesn't spiral up as just illustrated. Two, the auction has zero bids, so it attracts fewer bidders-- less competition. It's a fact that once an auction has at least 1 bid, it becomes a magnet for additional bidders. Shoppers scanning an auction page tend to jump to the ones with bids, figuring there must be something that attracted other bidders. The more bids, the more interesting the item looks.

Wouldn't it be great if a seller started a two carat diamond ring at $0.99 and no one bid until the last five minutes, and they all bid in fifty cent increments? Someone might win the ring for just a few bucks!! Of course, that never happens, but it would be the ideal situation for a buyer-- and it would put eBay out of business in a hurry. eBay encourages early bidding and smiles upon the snipers of the world. eBay makes their profits on listing fees and "final value" fees. The more the item sells for the higher the "final value". This makes eBay very happy. That's why you'll never find any tutorials anywhere on eBay telling you to wait until the end of an auction to bid.

The Solution...

OK, so now that we understand the benefits of sniping, lets get back to our friend "SpeedyFingers123". Speedy probably started out in life just like I did. She learned everything she knew about eBay from eBay and never realized there was such a thing as bidding software. Never knew a computer could do your sniping automatically, bid on your behalf in the last 2 to 8 seconds of an auction, and do it while you're asleep. With sniping software, you tell the software program which auctions you're interested in and how much you're willing to pay. eBay never knows you've seen the auction until your friendly sniping service swoops in and places your bid with only seconds to spare. Neither does your competition. They never see you coming. The only way you can lose is if someone else uses the same program sets their maximum bid higher than yours.

(Yes, my friend, you can still lose. There's no guarantee of winning an auction no matter what system you use, if someone else is willing to pay more. If you set your maximum bid at a million dollars for a hunk of Elvis' belly button lint and some nut is willing to pay a million ten, you're still going to lose!)

"Bidding Fever" Cured

Let's face it, there IS a positive side to losing an auction. It's the satisfaction of knowing that you didn't lose your head and spend more than you could afford!! Trust me, I've been there, done that, and come to regret it. With sniping programs, you can "set it and forget it" and walk away knowing that if you don't win, you couldn't have afforded it anyway.

What's that I hear you saying? "But I could have had it if I'd just upped my bid by another fifty cents!" Hey, did you listen to anything I just said? Do you want to drive yourself nuts? It's only stuff, after all. You can't take it with you, and there will always be more. The beauty of eBay is that there will probably be another just like it, or at least something just as fabulous.

You're in Control

There's another big advantage to using bidding software. Two things, actually. First, sniping programs allow you to do something called "contingency bidding". Suppose you're interested in several very similar items and you want to win at least one of them but not all. Provided they're not all ending at the same time, you can create a contingency plan telling the bidding software to cancel your bids on the other items as soon as you win one of them.

Second, you can change your mind about an item you're bidding on at any time (except in approximately the last 15 minutes). On eBay, it's a huge "no-no" to retract a bid. You can only do this under the most dire of circumstances. Do it too many times you'll be politely asked to leave. Permanently. But, because eBay doesn't register your bid until the Sniping program enters it for you, (at the very end of the auction) you can cancel your "snipe" with no penalty. You're canceling what you've programmed into the sniping software, not an actual bid on eBay. Isn't that nice? No more "watching" an auction you're unsure about, and then forgetting to bid on it. No more babysitting your computer so you can be there for the final moments of the auction. No more finding out you've read the description wrong and you're bidding on an item you don't want. Or finding something you like better after you've already committed yourself to another item, and having to pass on it. (Or worse, spending way too much on both!) And, finally, you have the satisfaction of knowing that winning doesn't depend on the speed of your fingers or your internet connection.

Believe me, the first time you snatch an item away from SpeedyFingers123-- or anyone else for that matter-- you'll be hooked.

© 2004 NetBrainer LLC. An eBay Power Seller and rabid eBay shopper, Carolyn Schweitzer is the owner and editor of "NetBrainer", a site dedicated to improving the performance of buyers and sellers on eBay. (You can learn more about sniping programs at NetBrainer.com ). Carolyn also provides weekly recorded tips on eBay for "Third Mind USA Small-Biz radio".


TODAYS NEWS BY OFFICEJAX FREE ADVERTISING AND AD EXCHANGE SOLUTIONSMORE RESOURCES updated Mon. January / 21 / 2019

Top Ten Bargains from the Barrett-Jackson Collector Car Auction. - MSN Autos
  1. Top Ten Bargains from the Barrett-Jackson Collector Car Auction.  MSN Autos
  2. Barrett-Jackson: 10 cool cars to watch on the last day of auctions on Sunday  AZCentral
  3. First Production 2020 Toyota Supra Sold For $2.1M At Auction  Motor1.com
  4. Here are the top-selling cars at 2019 Barrett-Jackson on Friday  Phoenix Business Journal
  5. View full coverage on Google News

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As Buyers Move Away From Private Auctions, How Should Publishers Adapt?  AdExchanger

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Barrett-Jackson: Cars to watch on the last day of auctions Sunday  AZCentral.com

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Auctions Up 20% on Invaluable as Collectors Embrace Online Bidding  EcommerceBytes

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Local non-profit buys horses from auctions to save them from possibly being slaughtered - NewsChannel5.com
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Rago Auctions: Modern Ceramics & Glass  Artsy

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India Plans 40 Gigawatts Of Solar & Wind Auctions Every Year Till 2028  CleanTechnica

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Rago Auctions: Modern Design - Artsy
Rago Auctions: Modern Design  Artsy

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Bumblebee Camaros Go To Auction – Fan Fest | For Fans, By Fans  FanFest News

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James Garner's 'Rockford Files' Pontiac Firebird is crossing the auction block  Fox News

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Naples Winter Wine Festival's online auction will start Monday  Naples Daily News

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2Pac's Pornographic Sex Drawing Is Hitting the Auction Block  Complex

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Golf cart raises $58,000 at Russo and Steele car auction for family of fallen Salt River officer  AZCentral

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Where to watch the 2019 Barrett-Jackson auction on TV  AZCentral

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Artifacts from Berkeley's Spenger's restaurant up for bid at auction  KRON4

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The art market in 2018: the year of Banksy and blockchain auctions - Financial Times
The art market in 2018: the year of Banksy and blockchain auctions  Financial Times

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2017 Optic Patrick Mahomes 1/1 Auto Among Goodwin Auction Highlights  Beckett Media, LLC

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Five Vintage Supercars Headline the Mecum Auction in Florida  Robb Report

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Finest-Known 1885 Trade Dollar Brings $3.96 Million: Heritage Auctions - CoinWeek
Finest-Known 1885 Trade Dollar Brings $3.96 Million: Heritage Auctions  CoinWeek

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Seller Lists Four Luxury Homes For Auction In A Single Week  Forbes

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Lampert wins Sears bankruptcy auction with $5.2B bid - AOL
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Auction of Nazi pins in Wisconsin draws criticism - Milwaukee Journal Sentinel
Auction of Nazi pins in Wisconsin draws criticism  Milwaukee Journal Sentinel

Among the items for sale Saturday at a southern Wisconsin auction business is a box of World War II German replica pins featuring swastikas.


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Martin County equestrian estate on auction block - TCPalm
Martin County equestrian estate on auction block  TCPalm

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Bid on fine art at Superior auction - Superior Telegram
Bid on fine art at Superior auction  Superior Telegram

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This Estate In Florida Will Be Sold At Auction With No Reserve - Forbes
This Estate In Florida Will Be Sold At Auction With No Reserve  Forbes

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Slow banks slow auction sales - NEWS.com.au
Slow banks slow auction sales  NEWS.com.au

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Petrobras preempts three pre-salt areas ahead of sixth auction - UPI News
Petrobras preempts three pre-salt areas ahead of sixth auction  UPI News

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Ericson Livestock Auction report | Markets - High Plains Journal
Ericson Livestock Auction report | Markets  High Plains Journal

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9th annual New City Arts and the Haven Art Auction - CBS19 News
9th annual New City Arts and the Haven Art Auction  CBS19 News

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Bangor Mall up for auction according to online real estate site - WABI
Bangor Mall up for auction according to online real estate site  WABI

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Final day for Blue Healer’s Georgia Tech auction and a chance to catch Duke in Cameron - Duke Basketball Report
Final day for Blue Healer’s Georgia Tech auction and a chance to catch Duke in Cameron  Duke Basketball Report

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Sears survives bankruptcy auction and will keep 400 stores open  The Denver Post

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FCC's 28 GHz auction suspended due to weather - FierceWireless
FCC's 28 GHz auction suspended due to weather  FierceWireless

Heavy snowfall in the nation's capital has prompted the FCC to suspend the 28 GHz spectrum auction. The agency plans to resume activities on Jan. 15 with six ...


Irwin Builders Supply site sold, auction set - Tribune-Review
Irwin Builders Supply site sold, auction set  Tribune-Review

An auction is set for Jan. 26 to sell a variety of home building products at the last remaining vestige of Irwin Builders Supply Corp., which was sold last month to a ...


Arkansas livestock auction summary | Markets - High Plains Journal
Arkansas livestock auction summary | Markets  High Plains Journal

The summary of livestock auctions in Arkansas for the week ending Jan. 12, showed estimated receipts of 10540 head selling, compared to 3060 head a week ...


See the top cars sold at 2019 Barrett-Jackson on Wednesday - Phoenix Business Journal
See the top cars sold at 2019 Barrett-Jackson on Wednesday  Phoenix Business Journal

Three classic cars muscled their way to become the top sellers Wednesday at the ongoing auto auction in Scottsdale.


Kansas City-based auto auction forms charity, donates more than $1 million in six years - KSHB
Kansas City-based auto auction forms charity, donates more than $1 million in six years  KSHB

Over the past six years, the KCI Auto Auction has donated $1.25 million to three Kansas City-based organizations.


New City Arts and The Haven Host Annual Art Auction for Housing2Home - NBC 29 News
New City Arts and The Haven Host Annual Art Auction for Housing2Home  NBC 29 News

New City Arts and The Haven hosted their annual art auction in an effort to help homeless individuals in the area.


Belly flop competitions, art auctions and Shrek: What life is like aboard Harmony of the Seas - Dorset Echo
Belly flop competitions, art auctions and Shrek: What life is like aboard Harmony of the Seas  Dorset Echo

I NEVER thought I'd see the day but I've changed - and in a way that I didn't think was possible.


A Mistakenly Made Penny Sold At Auction for Over $200,000 USD - HYPEBEAST
A Mistakenly Made Penny Sold At Auction for Over $200,000 USD  HYPEBEAST

Pittsfield, Massachusetts resident Don Lutes Jr. struck auction gold with a copper penny that was accidentally created by the U.S. Mint. Lutes Jr. received the ...


New auction house opens in downtown Story City - Ames Tribune
New auction house opens in downtown Story City  Ames Tribune

A new auction house has opened in downtown Story City, and the owners want it to be more than a place to just buy and sell things. Kyle and Jennifer Miller ...


Singer Ray J buys Camaro for $165,000 to benefit charity at Barrett-Jackson Thursday - AZCentral
Singer Ray J buys Camaro for $165,000 to benefit charity at Barrett-Jackson Thursday  AZCentral

Singer Ray J placed the winning bid of $165,000 on a 1967 custom Camaro, all of which goes to benefit Childhelp through SEMA Cares. (Photo: Courtesy of ...


Gary Sinise, Richard Rawlings team up to auction car for good cause - FOX 10 News Phoenix
Gary Sinise, Richard Rawlings team up to auction car for good cause  FOX 10 News Phoenix

SCOTTSDALE, Ariz. (FOX 10) -- Actor Gary Sinise is perhaps best known for his role as Lieutenant Dan Forrest Gump and astronaut Ken Mattingly in Apollo 13.


Auction for fancy car numbers nets QR8.5m - The Peninsula Qatar
Auction for fancy car numbers nets QR8.5m  The Peninsula Qatar

Like auctions in the previous years, the seventh online auction for 25 fancy car number plates this year too was a big hit among enthusiasts as the authorities ...


The Five Slickest Cars Up For Auction Next Weekend At RM Sotheby's Arizona - Forbes
The Five Slickest Cars Up For Auction Next Weekend At RM Sotheby's Arizona  Forbes

These are the five most interesting vehicles up for auction at the RM Sotheby's Auction in Scottsdale, Arizona. The auction takes place January 17-18, 2019.


BFAMI: Benefit Auction 2019 - Artsy
BFAMI: Benefit Auction 2019  Artsy

Artsy exclusively presents BFAMI: Benefit Auction 2019. BFAMI supports Educational Programmes for Underprivileged Youth. Exciting benefit auction featuring ...


Catherine Deneuve Shares Trove of Yves Saint Laurent in Christie’s Auction - Hollywood Reporter
Catherine Deneuve Shares Trove of Yves Saint Laurent in Christie’s Auction  Hollywood Reporter

French actress Catherine Deneuve shares her YSL items in auction, including the gowns she wore to the Academy Awards in 1993 and 2000.


Strong finish for 2018 auctions, $58M in property sold - New Zealand Herald
Strong finish for 2018 auctions, $58M in property sold  New Zealand Herald

The commercial and industrial property market enters 2019 on the back of a strong finish to 2018, with a total of 38 properties around the North Island selling at a ...


Sears, Kmart may survive: Eddie Lampert wins Chapter 11 bankruptcy auction - USA TODAY
Sears, Kmart may survive: Eddie Lampert wins Chapter 11 bankruptcy auction  USA TODAY

Sears Holdings could escape its brush with annihilation after the retailer's chairman and largest investor prevailed in an auction for a shrunken version of the ...


58,000 view catalog for sold out Melissa Gilbert, Timothy Busfield estate auction - Livingston Daily
58,000 view catalog for sold out Melissa Gilbert, Timothy Busfield estate auction  Livingston Daily

Stacy Luoma and her grandmother Arbilla Moore made off with about $515 in personal possessions once belonging to "Little House on the Prairie" star Melissa ...


3,500 cars up for auction at Osceola Heritage Park - WKMG News 6 & ClickOrlando
3,500 cars up for auction at Osceola Heritage Park  WKMG News 6 & ClickOrlando

A one-of-a-kind car auction has rolled into Osceola Heritage Park, inundating 190 acres with thousands of vehicles.


Rare wines available for public online auction - Business Observer
Rare wines available for public online auction  Business Observer

Coveted Screaming Eagle wine vertical is the featured attraction at the 19th annual Naples Winter Wine Festival.


The Ultimate Rhode Island Auction—Complete with Pirates, Sharks and Glass Saddles - GoLocalProv
The Ultimate Rhode Island Auction—Complete with Pirates, Sharks and Glass Saddles  GoLocalProv

Forget the record sale price of a piece of Newport Colonial furniture in 1989 for more than $12 million, or the infamous 1988 “two-day auction of English furniture ...


SA auction market strongest on mainland - NEWS.com.au
SA auction market strongest on mainland  NEWS.com.au

Adelaide's auction market continues to kick goals as a new report reveals it recorded the highest clearance rate of any mainland city over the December quarter.


Netherlands Ponders Restrictions on Huawei Ahead of 5G Auction - Yahoo Finance
Netherlands Ponders Restrictions on Huawei Ahead of 5G Auction  Yahoo Finance

The economy ministry is set to auction 5G mobile frequencies this autumn, with the criteria for selection depending on the government's China strategy, due to ...


Historic Tommy gun hits the auction block - WWLP.com
Historic Tommy gun hits the auction block  WWLP.com

A small Kentucky town is auctioning off a piece of history, a rare Thompson machine gun that could sell for an estimated $100000.


Will Supreme skateboards auction yield US$1 million for Sotheby’s? - South China Morning Post
Will Supreme skateboards auction yield US$1 million for Sotheby’s?  South China Morning Post

Exquisite '20 years of Supreme' ensemble includes an archive of diligently and passionately assembled skates by collector Ryan Fuller.


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