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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 Sun. September / 20 / 2020

SPIETH & SATOW AUCTIONS, INC. | Ads | thenewsherald.com - Southgate News Herald
SPIETH & SATOW AUCTIONS, INC. | Ads | thenewsherald.com  Southgate News Herald

Bidding in first of 2 online auctions for confiscated hunting, fishing equipment open, ends Saturday - KSTP
Bidding in first of 2 online auctions for confiscated hunting, fishing equipment open, ends Saturday  KSTP

Relics from Michael Jordan's Bulls Tenure Up For Auction - Talk Radio 1210 WPHT
Relics from Michael Jordan's Bulls Tenure Up For Auction  Talk Radio 1210 WPHT

Carpet, rug and textile auctions – the Fall 2020 - JOZAN
Carpet, rug and textile auctions – the Fall 2020  JOZAN

Auction Prices That Take Your Breath Away - The New York Times
Auction Prices That Take Your Breath Away  The New York Times

Samuels home in Rockport up for auction, listed for $8.75M - fortworthbusiness.com
Samuels home in Rockport up for auction, listed for $8.75M  fortworthbusiness.com

Selected Western livestock auctions | Livestock Auctions | capitalpress.com - Capital Press
Selected Western livestock auctions | Livestock Auctions | capitalpress.com  Capital Press

Travis Barker's 1964 Cadillac Coupe DeVille Hits Auction Block - TMZ
Travis Barker's 1964 Cadillac Coupe DeVille Hits Auction Block  TMZ

Brazil to end biodiesel auctions, permit imports - Argus Media
Brazil to end biodiesel auctions, permit imports  Argus Media

Hundreds of items sold at Biloxi auction - WLOX
Hundreds of items sold at Biloxi auction  WLOX

AUCTIONS BY SCHACKMANN - Ad from 2020-09-19 | Office Services | jg-tc.com - Journal Gazette and Times-Courier
AUCTIONS BY SCHACKMANN - Ad from 2020-09-19 | Office Services | jg-tc.com  Journal Gazette and Times-Courier

Kelleher's Oct. 7 auction offers Central and South America - Linn's Stamp News
Kelleher's Oct. 7 auction offers Central and South America  Linn's Stamp News

City of Biloxi putting on an auction - WXXV News 25
City of Biloxi putting on an auction  WXXV News 25

Christie’s to Put Tyrannosaurus Rex Skeleton Up for Auction - Voice of America
Christie’s to Put Tyrannosaurus Rex Skeleton Up for Auction  Voice of America

MacMurray will auction off art collection - Alton Telegraph
MacMurray will auction off art collection  Alton Telegraph

Over 800 items avaliable at Biloxi auction behind Fire Station #7 - WLOX
Over 800 items avaliable at Biloxi auction behind Fire Station #7  WLOX

State Fleet Vehicle Auction set online Wednesday | State - Bismarck Tribune
State Fleet Vehicle Auction set online Wednesday | State  Bismarck Tribune

Sonic puts its 'cherished' ice up for auction, gets bids above $300 - Fox News
Sonic puts its 'cherished' ice up for auction, gets bids above $300  Fox News

Livestock auctions | News | cadillacnews.com - Cadillac News
Livestock auctions | News | cadillacnews.com  Cadillac News

Warren County Conservation Auction Today - KNIA / KRLS Radio
Warren County Conservation Auction Today  KNIA / KRLS Radio

Altru's gala moves online with auction, digital content - Grand Forks Herald
Altru's gala moves online with auction, digital content  Grand Forks Herald

Retro-Styled 2020 Chevy Tahoe Sells For Big Bucks At Mecum Auctions - GM Authority
Retro-Styled 2020 Chevy Tahoe Sells For Big Bucks At Mecum Auctions  GM Authority

Nashville: An Auction for ACM Lifting Lives Covid 19 Response Fund | Charity Auction - Christie's
Nashville: An Auction for ACM Lifting Lives Covid 19 Response Fund | Charity Auction  Christie's

Arnot Realty president buys 8-acre Ithaca waterfront property for $3.8 million in auction - Ithaca Journal
Arnot Realty president buys 8-acre Ithaca waterfront property for $3.8 million in auction  Ithaca Journal

Annual Auction Of Vehicles Abandoned At Pittsburgh International Airport Goes Virtual - CBS Pittsburgh
Annual Auction Of Vehicles Abandoned At Pittsburgh International Airport Goes Virtual  CBS Pittsburgh

In Time of Pandemic, Auction Houses Cash In Big on Watches - Bloomberg
In Time of Pandemic, Auction Houses Cash In Big on Watches  Bloomberg

234 Classic Cars Featured in the Biggest Ever Classic Car Auction - Sports Car Digest
234 Classic Cars Featured in the Biggest Ever Classic Car Auction  Sports Car Digest

State's popular surplus equipment auction goes online - ABC 36 News - WTVQ
State's popular surplus equipment auction goes online - ABC 36 News  WTVQ

Legendary Dodgers broadcaster Vin Scully on the current state of baseball and his plan to auction off mementos - CNN
Legendary Dodgers broadcaster Vin Scully on the current state of baseball and his plan to auction off mementos  CNN

Stylish Midtown Home Auction, October 15th. Whether you're looking for - Tulsa World
Stylish Midtown Home Auction, October 15th. Whether you're looking for  Tulsa World

STORAGE AUCTIONS - Columbia Star
STORAGE AUCTIONS  Columbia Star

Rotary Auction pulls in a surprising total - Hoptown Chronicle
Rotary Auction pulls in a surprising total  Hoptown Chronicle

Wyoming Elk Antler Auction Goes Online Due to Coronavirus - Kgab
Wyoming Elk Antler Auction Goes Online Due to Coronavirus  Kgab

El Paso County still holding auctions in person, looking for options to make them safer - KFOX El Paso
El Paso County still holding auctions in person, looking for options to make them safer  KFOX El Paso

AUCTION PREVIEWS Tues. Sept. 22nd Farm Tractors,Tools & Household Furnishings - NNY360
AUCTION PREVIEWS Tues. Sept. 22nd Farm Tractors,Tools & Household Furnishings  NNY360

Market Analysis: 1894-S Barber dime leads bidding at Heritage auction of Simpson Collection - Coin World
Market Analysis: 1894-S Barber dime leads bidding at Heritage auction of Simpson Collection  Coin World

Unicorn Auctions Offers An Online Whiskey Auction Model To American Consumers - The Whiskey Wash
Unicorn Auctions Offers An Online Whiskey Auction Model To American Consumers  The Whiskey Wash

Reeves and Catherine Skeen to serve as March of Dimes Signature Chefs Auction co-chairs - Charleston Post Courier
Reeves and Catherine Skeen to serve as March of Dimes Signature Chefs Auction co-chairs  Charleston Post Courier

Digital auto auctions are effective and safer - Automotive News
Digital auto auctions are effective and safer  Automotive News

Two DNR auctions of confiscated hunting, fishing equipment set for this fall - Pine Journal
Two DNR auctions of confiscated hunting, fishing equipment set for this fall  Pine Journal

Honolulu Police Department auctions evidence online - KHON2
Honolulu Police Department auctions evidence online  KHON2

SEPTEMBER ACTION AUCTION HOT DEALS - kmmo.com
SEPTEMBER ACTION AUCTION HOT DEALS  kmmo.com

Rotary Auction heads into final night; grill crew selling the last Boston butts - Hoptown Chronicle
Rotary Auction heads into final night; grill crew selling the last Boston butts  Hoptown Chronicle

The Blatant Hypocrisy of the Sotheby’s Hip-Hop Auction - Pitchfork
The Blatant Hypocrisy of the Sotheby’s Hip-Hop Auction  Pitchfork

Better Auctions, Better Service, Just Plain Better. | Sponsored Content | lancasteronline.com - LancasterOnline
Better Auctions, Better Service, Just Plain Better. | Sponsored Content | lancasteronline.com  LancasterOnline

DNR sets two confiscated hunting, fishing equipment auctions for this fall - Brainerd Dispatch
DNR sets two confiscated hunting, fishing equipment auctions for this fall  Brainerd Dispatch

Warren County Conservation Auction Pickup - KNIA / KRLS Radio
Warren County Conservation Auction Pickup  KNIA / KRLS Radio

Virtual auction to support Little Britches - The Greater New Milford Spectrum
Virtual auction to support Little Britches  The Greater New Milford Spectrum

Concierge Auctions Announces September/October Global Auction Lineup of $160 Million in Properties—Most No - EIN News
Concierge Auctions Announces September/October Global Auction Lineup of $160 Million in Properties—Most No  EIN News

SONIC Auctions off a Cup of Its Famous Ice - Business Wire
SONIC Auctions off a Cup of Its Famous Ice  Business Wire

RM Sotheby's Auburn Auction celebrates 50 years of a Labor Day tradition - wpta21.com
RM Sotheby's Auburn Auction celebrates 50 years of a Labor Day tradition  wpta21.com

Digital auctions no substitute for in-lane - Automotive News
Digital auctions no substitute for in-lane  Automotive News

Hardwood floor from Kobe Bryant's final game expected to auction for more than $500,000 - CNN International
Hardwood floor from Kobe Bryant's final game expected to auction for more than $500,000  CNN International

12-carat diamond ring realizes $143,750 in Andrew Jones Auctions' first-ever Fine Jewelry, Watches & - EIN News
12-carat diamond ring realizes $143,750 in Andrew Jones Auctions' first-ever Fine Jewelry, Watches &  EIN News

HiBid.com Auctions Soared Past $45.3 Million Last Week; Farm Equipment, Coins, Classic Cars & More for Sale Now - PRNewswire
HiBid.com Auctions Soared Past $45.3 Million Last Week; Farm Equipment, Coins, Classic Cars & More for Sale Now  PRNewswire

Calhoun County Fair announces 2020 Junior Livestock Show and Auction changes - Victoria Advocate
Calhoun County Fair announces 2020 Junior Livestock Show and Auction changes  Victoria Advocate

Entertainment 360: Art shows, contests, auctions happening | News - goskagit.com
Entertainment 360: Art shows, contests, auctions happening | News  goskagit.com

4-H Foundation begins online auctions | Local News | starbeacon.com - The Star Beacon
4-H Foundation begins online auctions | Local News | starbeacon.com  The Star Beacon

Louis Armstrong’s 1948-Made Trumpet Heads to Auction - Rolling Stone
Louis Armstrong’s 1948-Made Trumpet Heads to Auction  Rolling Stone

EPAC to host online fundraising auction for theater - Fly Magazine
EPAC to host online fundraising auction for theater  Fly Magazine

High-End Loft Reduced 27 Percent, Going the “Auction” Route - SocketSite
High-End Loft Reduced 27 Percent, Going the “Auction” Route  SocketSite

FullBeauty's $41M bid wins Catherines plus brand at auction - Retail Dive
FullBeauty's $41M bid wins Catherines plus brand at auction  Retail Dive

Notorious B.I.G.'s $6 plastic crown sells for $594,750 in auction - New York Post
Notorious B.I.G.'s $6 plastic crown sells for $594,750 in auction  New York Post

Nazmiyal's exciting Online Auction of Antique and Vintage Rugs is Poised to Excite Collectors Worldwide! - PRNewswire
Nazmiyal's exciting Online Auction of Antique and Vintage Rugs is Poised to Excite Collectors Worldwide!  PRNewswire

Real-life 'Pianist' possessions up for auction in Poland - The Jakarta Post - Jakarta Post
Real-life 'Pianist' possessions up for auction in Poland - The Jakarta Post  Jakarta Post

Texas Coast villa of late car dealership icon Allen Samuels up for auction (slideshow) - San Antonio Business Journal
Texas Coast villa of late car dealership icon Allen Samuels up for auction (slideshow)  San Antonio Business Journal

Abraham Lincoln's lock of hair sells for more than $81,000 at auction - CNN
Abraham Lincoln's lock of hair sells for more than $81,000 at auction  CNN

T. Rex Skeleton up for Auction for $6-8 Million - Nerdist
T. Rex Skeleton up for Auction for $6-8 Million  Nerdist

Auction.com enables remote bidding on live foreclosure properties - HousingWire
Auction.com enables remote bidding on live foreclosure properties  HousingWire

Artworks by Lichtenstein, Blanchard, Benton and others are in Neue Auctions' Fine Art & Antiques auction, - EIN News
Artworks by Lichtenstein, Blanchard, Benton and others are in Neue Auctions' Fine Art & Antiques auction,  EIN News

Museum of Contemporary Art San Diego’s virtual Art Auction runs Oct. 1-15 - Del Mar Times
Museum of Contemporary Art San Diego’s virtual Art Auction runs Oct. 1-15  Del Mar Times

Colin Kaepernick's rookie NFL jersey could sell for this huge sum at auction - Fox Business
Colin Kaepernick's rookie NFL jersey could sell for this huge sum at auction  Fox Business

The Changing Face of Distressed Property Auctions - DSNews.com
The Changing Face of Distressed Property Auctions  DSNews.com

Paws for People virtual art auction runs Sept. 28-Oct. 4 - CapeGazette.com
Paws for People virtual art auction runs Sept. 28-Oct. 4  CapeGazette.com

LA’s Century-OId Pacific Dining Car Is Selling Everything at Auction - Eater LA
LA’s Century-OId Pacific Dining Car Is Selling Everything at Auction  Eater LA

banksy's rebellious adaptation of claude monet masterpiece up for auction at sotheby's - Designboom
banksy's rebellious adaptation of claude monet masterpiece up for auction at sotheby's  Designboom

T. Boone Pickens' estate and art up for grabs in 2 auctions, one in Dallas - CultureMap Dallas
T. Boone Pickens' estate and art up for grabs in 2 auctions, one in Dallas  CultureMap Dallas

Barnhart auction will be a lifetime of memories - The Hillsdale Daily News
Barnhart auction will be a lifetime of memories  The Hillsdale Daily News

Steal a masterpiece at The Great Art Heist auction benefiting arts in Dare County - OBXToday.com
Steal a masterpiece at The Great Art Heist auction benefiting arts in Dare County  OBXToday.com

Downtown properties headed to auction after hotel plans are scrapped - Louisville Business First
Downtown properties headed to auction after hotel plans are scrapped  Louisville Business First

Marshall School of Medicine Kicks Off Online Auction for Student Scholarships - HNN Huntingtonnews.net
Marshall School of Medicine Kicks Off Online Auction for Student Scholarships  HNN Huntingtonnews.net

A Baseball Life: Vin Scully Auctions Items From 67-Year Career - NBC Southern California
A Baseball Life: Vin Scully Auctions Items From 67-Year Career  NBC Southern California

DNR to hold auctions on confiscated hunting, fishing equipment - KSTP
DNR to hold auctions on confiscated hunting, fishing equipment  KSTP

Got Art? Get More, As Pasadena Art Alliance Auction Goes Online, Today – Pasadena Weekendr - Pasadena Now
Got Art? Get More, As Pasadena Art Alliance Auction Goes Online, Today – Pasadena Weekendr  Pasadena Now

U.S. resumes oil, gas lease auctions; bids weaker than pre-pandemic levels - Reuters
U.S. resumes oil, gas lease auctions; bids weaker than pre-pandemic levels  Reuters

Auction to help museum that's reopened after months - Bainbridge Island Review
Auction to help museum that's reopened after months  Bainbridge Island Review

Virtual art auction for foothills fire begins this Sunday - The Bozeman Daily Chronicle
Virtual art auction for foothills fire begins this Sunday  The Bozeman Daily Chronicle

RM Auctions sales top $17 million | Thestar - KPCnews.com
RM Auctions sales top $17 million | Thestar  KPCnews.com

A baseball life: Scully auctions items from 67-year career - Associated Press
A baseball life: Scully auctions items from 67-year career  Associated Press

Banksy’s Monet tribute going up for auction next month - NME
Banksy’s Monet tribute going up for auction next month  NME

Bloomsburg Fair livestock auction goes virtual - WNEP Scranton/Wilkes-Barre
Bloomsburg Fair livestock auction goes virtual  WNEP Scranton/Wilkes-Barre

Bill Wyman Auction Breaks Records for Highest Selling Bass Guitar, Amplifier - Rolling Stone
Bill Wyman Auction Breaks Records for Highest Selling Bass Guitar, Amplifier  Rolling Stone

Auction buyers relying on condition reports for online sales - Automotive News
Auction buyers relying on condition reports for online sales  Automotive News

'I had totally forgotten': Autographed Michael Jordan bat rediscovered in car trunk 26 years later - USA TODAY
'I had totally forgotten': Autographed Michael Jordan bat rediscovered in car trunk 26 years later  USA TODAY

Cargill Acquires Chinese Soybean Processor in Auction - Agweb Powered by Farm Journal
Cargill Acquires Chinese Soybean Processor in Auction  Agweb Powered by Farm Journal

U.S. Treasury's record debt auctions may swamp market appetite without more support from Federal Reserve - MarketWatch
U.S. Treasury's record debt auctions may swamp market appetite without more support from Federal Reserve  MarketWatch

Brianerd Area Auction • Saturday, August 29th | Auctions - ECM Publishers
Brianerd Area Auction • Saturday, August 29th | Auctions  ECM Publishers

Catawiki's Exclusive Art & Photography Book Auction is Live | Fine Books & Collections - Fine Books & Collections Magazine
Catawiki's Exclusive Art & Photography Book Auction is Live | Fine Books & Collections  Fine Books & Collections Magazine

Report -- Josh Gordon sells Super Bowl LIII ring for $138K at auction - ESPN
Report -- Josh Gordon sells Super Bowl LIII ring for $138K at auction  ESPN

NDDOT holding online vehicle auction Sept. 23 | INFORUM - inforum.com
NDDOT holding online vehicle auction Sept. 23 | INFORUM  inforum.com

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