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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 Tue. March / 28 / 2023

Inside the New York auction house driving the rare-book craze in the Orthodox world - The Times of Israel
Inside the New York auction house driving the rare-book craze in the Orthodox world  The Times of Israel

Sydney auctions: North Ryde sellers 'in tears' after surprise result - realestate.com.au - realestate.com.au
Sydney auctions: North Ryde sellers 'in tears' after surprise result - realestate.com.au  realestate.com.au

Alex Murdaugh's sister-in-law snags family belongings ahead of auction - Yahoo News
  1. Alex Murdaugh's sister-in-law snags family belongings ahead of auction  Yahoo News
  2. Who Is Christy Murdaugh? Family Member Buys Up Auction Items  Newsweek
  3. Murdaugh estate auction items include ‘alibi couch’ and Maggie’s bike  New York Post

New York’s Iconic Flatiron Building Sold for $190 Million in a Bitter Auction on the Steps of a Manhattan Courthouse - artnet News
New York’s Iconic Flatiron Building Sold for $190 Million in a Bitter Auction on the Steps of a Manhattan Courthouse  artnet News

Questions Grow Around Alsdorf Art Collection in Chicago - ProPublica
Questions Grow Around Alsdorf Art Collection in Chicago  ProPublica

Heritage Auctions in Beverly Hills hosts 850-piece Disney auction that includes pieces from movies and parks - KABC-TV
Heritage Auctions in Beverly Hills hosts 850-piece Disney auction that includes pieces from movies and parks  KABC-TV

10 most expensive Disneyland items in auction of nearly 900 theme park collectibles - The Mercury News
10 most expensive Disneyland items in auction of nearly 900 theme park collectibles  The Mercury News

Toby Moskovits' Bushwick Generator Headed to Foreclosure Auction - The Real Deal
Toby Moskovits' Bushwick Generator Headed to Foreclosure Auction  The Real Deal

Tamarama owners cash in on $13 million beachside auction sale - Sydney Morning Herald
Tamarama owners cash in on $13 million beachside auction sale  Sydney Morning Herald

Bikes sell at 80% discount in mega auction - Yahoo Sports
Bikes sell at 80% discount in mega auction  Yahoo Sports

Portugal to launch Europe's first auction for piped hydrogen - Reuters
Portugal to launch Europe's first auction for piped hydrogen  Reuters

Mecum Auctions on track for growth as classic car event enters fifth year in the Valley - The Business Journals
Mecum Auctions on track for growth as classic car event enters fifth year in the Valley  The Business Journals

By next week, AES Ohio customers should know what electric costs ... - Dayton Daily News
By next week, AES Ohio customers should know what electric costs ...  Dayton Daily News

Suffolk County Police To Hold Vehicle Auction In Westhampton - Patch
Suffolk County Police To Hold Vehicle Auction In Westhampton  Patch

HSVP expects to earn ₹5k crore from auctions of residential, commercial properties - Hindustan Times
HSVP expects to earn ₹5k crore from auctions of residential, commercial properties  Hindustan Times

RCap’s 2nd e-auction slated for April 4 - The Financial Express
RCap’s 2nd e-auction slated for April 4  The Financial Express

Iconic Bordeaux vintages smash estimates at first live Christie’s ... - decanter.com
Iconic Bordeaux vintages smash estimates at first live Christie’s ...  decanter.com

Govt to launch 7th round of commercial auctions on Wednesday; to put 106 coal mines on block - Times of India
Govt to launch 7th round of commercial auctions on Wednesday; to put 106 coal mines on block  Times of India

New GMs at Carolina Auto Auction, Greater Erie Auto Auction - Auto Remarketing
New GMs at Carolina Auto Auction, Greater Erie Auto Auction  Auto Remarketing

Gemfields' March Emerald Auctions Bring in $21.2 Mln - MarketWatch
Gemfields' March Emerald Auctions Bring in $21.2 Mln  MarketWatch

Magic: The Gathering Black Lotus auction breaks new record: $615,000 - Polygon
Magic: The Gathering Black Lotus auction breaks new record: $615,000  Polygon

Courtney Christian School hosts annual Art Gala and silent auction - an17.com
Courtney Christian School hosts annual Art Gala and silent auction  an17.com

March 7 - Results of First Cap-and-Invest Auction Announced - Washington State Department of Ecology
March 7 - Results of First Cap-and-Invest Auction Announced  Washington State Department of Ecology

How Cancelling an eBay Auction Can Get Sellers in Trouble - EcommerceBytes
How Cancelling an eBay Auction Can Get Sellers in Trouble  EcommerceBytes

BLM to offer 1,064 acres for solar lease auction - Bureau of Land Management
BLM to offer 1,064 acres for solar lease auction  Bureau of Land Management

Two-Year Note Auction Attracts Below Average Demand - Nasdaq
Two-Year Note Auction Attracts Below Average Demand  Nasdaq

SCRD director wants cutblock auctions delayed - Coast Reporter
SCRD director wants cutblock auctions delayed  Coast Reporter

Asia Week New York Returns With a Series of Auctions and Exhibitions - Barron's
Asia Week New York Returns With a Series of Auctions and Exhibitions  Barron's

BOTT Bruiser: A 1983 Harley XR1000 on auction at Mecum - Bike EXIF
BOTT Bruiser: A 1983 Harley XR1000 on auction at Mecum  Bike EXIF

Former RadioShack CEO Auctions Fort Worth Mansion - The Real Deal
Former RadioShack CEO Auctions Fort Worth Mansion  The Real Deal

eBay Vessel Auctions are Binding, German Court Rules - The Maritime Executive
eBay Vessel Auctions are Binding, German Court Rules  The Maritime Executive

This Patek Philippe is most expensive watch ever sold at online auction - Yahoo Finance
This Patek Philippe is most expensive watch ever sold at online auction  Yahoo Finance

Historic Flatiron Building sells for $190 million at auction - Spectrum News NY1
Historic Flatiron Building sells for $190 million at auction  Spectrum News NY1

BID NOW: Flyers Charities NHL Signed-Stick Auction - NHL.com
BID NOW: Flyers Charities NHL Signed-Stick Auction  NHL.com

Large Office Building Up for Auction in Connecticut - The Real Deal
Large Office Building Up for Auction in Connecticut  The Real Deal

The Lake District files chapter 11 bankruptcy, auction cancelled - Commercial Appeal
The Lake District files chapter 11 bankruptcy, auction cancelled  Commercial Appeal

Huge collection of vintage Apple computers goes to auction next week - Ars Technica
Huge collection of vintage Apple computers goes to auction next week  Ars Technica

A Look Ahead at the March 2023 Auctions - Artsy
A Look Ahead at the March 2023 Auctions  Artsy

FCC's spectrum auction authority nears March expiration - Roll Call
FCC's spectrum auction authority nears March expiration  Roll Call

ICE to Host Carbon Credit Auctions for UpEnergy - Business Wire
ICE to Host Carbon Credit Auctions for UpEnergy  Business Wire

Lights Camera Auction offers art, services, food and drink, vacations - Tuscaloosa Magazine
Lights Camera Auction offers art, services, food and drink, vacations  Tuscaloosa Magazine

Ritchie Bros. Auctioneers Inc: Leading the Industrial Auction Industry - Best Stocks
Ritchie Bros. Auctioneers Inc: Leading the Industrial Auction Industry  Best Stocks

Cabinet cancels auctions for sale of oil, gas condensate, and liquefied gas - Ukrainian News Agency
Cabinet cancels auctions for sale of oil, gas condensate, and liquefied gas  Ukrainian News Agency

Furry Friends cat rescue to hold online auction - The Reflector
Furry Friends cat rescue to hold online auction  The Reflector

An $18 million Ferrari leads record classic-car auction at Amelia ... - CNBC
An $18 million Ferrari leads record classic-car auction at Amelia ...  CNBC

MCE boosters accepting donations for annual auction | News ... - shorelinemedia.net
MCE boosters accepting donations for annual auction | News ...  shorelinemedia.net

FCC spectrum auction authority lapses amid questions on military ... - Roll Call
FCC spectrum auction authority lapses amid questions on military ...  Roll Call

Feb. 28 - First Cap-and-Invest Auction - Washington State Department of Ecology
Feb. 28 - First Cap-and-Invest Auction  Washington State Department of Ecology

HiBid Auctions Approach $52M in GMV Last Week, with Rare Coins, Vintage Jewelry, Decorative Vases, and More Now Open for Bidding - Yahoo Finance
HiBid Auctions Approach $52M in GMV Last Week, with Rare Coins, Vintage Jewelry, Decorative Vases, and More Now Open for Bidding  Yahoo Finance

Rare print of Hokusai's 'Great Wave' sets new auction record - CNN
Rare print of Hokusai's 'Great Wave' sets new auction record  CNN

Mexican authorities condemn French auction of pre-Columbian ... - Art Newspaper
Mexican authorities condemn French auction of pre-Columbian ...  Art Newspaper

This vintage Apple hardware auction is the stuff of dreams - Creative Bloq
This vintage Apple hardware auction is the stuff of dreams  Creative Bloq

‘Everything Everywhere All at Once’ Props Fetch Thousands at Auction - The New York Times
‘Everything Everywhere All at Once’ Props Fetch Thousands at Auction  The New York Times

Monorail cabin, lost footage of Walt among Disney artifacts up for auction - KTLA Los Angeles
Monorail cabin, lost footage of Walt among Disney artifacts up for auction  KTLA Los Angeles

Dade Auctions expands sales force - Waste Today - Waste Today Magazine
Dade Auctions expands sales force - Waste Today  Waste Today Magazine

Fladeboe Auctions, Franz Richter and WWII story on Postcards - Pioneer Public Television
Fladeboe Auctions, Franz Richter and WWII story on Postcards  Pioneer Public Television

Mt. Pleasant Rental Center to close with an online auction - The Morning Sun
Mt. Pleasant Rental Center to close with an online auction  The Morning Sun

NYC's Iconic Flatiron Building Is … Headed to Auction? - Hyperallergic
NYC's Iconic Flatiron Building Is … Headed to Auction?  Hyperallergic

The Dressage Lot of the 2023 Oldenburg Elite Spring Auction is ... - | Eurodressage
The Dressage Lot of the 2023 Oldenburg Elite Spring Auction is ...  | Eurodressage

Sherman auction features a Hollywood stuntman's collection - - KTEN
Sherman auction features a Hollywood stuntman's collection -  KTEN

Mark James Auctions acquires several highly sought-after works by Banksy and Segal - Yahoo Finance
Mark James Auctions acquires several highly sought-after works by Banksy and Segal  Yahoo Finance

Detroit police vehicle auctions include cars, trucks, more in March -- See the schedule - FOX 2 Detroit
Detroit police vehicle auctions include cars, trucks, more in March -- See the schedule  FOX 2 Detroit

Krehbiel private collection exceeds expectations at Hindman auctions - Crain's Chicago Business
Krehbiel private collection exceeds expectations at Hindman auctions  Crain's Chicago Business

Kandinsky painting recovered by Holocaust victims' heirs sets auction record at nearly $45 million - CNN
Kandinsky painting recovered by Holocaust victims' heirs sets auction record at nearly $45 million  CNN

Rare 1953 Corvette will be on the block at Carlisle Auctions two-day sale on April 20-21 - WPMT FOX 43
Rare 1953 Corvette will be on the block at Carlisle Auctions two-day sale on April 20-21  WPMT FOX 43

Atlas Private Wealth Management Makes New $82000 Investment in ... - MarketBeat
Atlas Private Wealth Management Makes New $82000 Investment in ...  MarketBeat

Warner Bros. Wins Fevered Weekend Auction For T.J. Newman Novel ‘Drowning: The Rescue Of Flight 1421;’ Deal Reaches $1.5M Against $3M - Deadline
Warner Bros. Wins Fevered Weekend Auction For T.J. Newman Novel ‘Drowning: The Rescue Of Flight 1421;’ Deal Reaches $1.5M Against $3M  Deadline

Canadian Banknote with Queen Elizabeth II Portrait Leads Auction - Fine Books & Collections Magazine
Canadian Banknote with Queen Elizabeth II Portrait Leads Auction  Fine Books & Collections Magazine

eBay auctions turn up interesting Ohio State stuff - Land Grant Holy Land
eBay auctions turn up interesting Ohio State stuff  Land Grant Holy Land

Sivana vs Captain Marvel & America in early Whiz Comics, at Auction - Bleeding Cool News
Sivana vs Captain Marvel & America in early Whiz Comics, at Auction  Bleeding Cool News

1stDibs Corners The Market For “Mid-Market” Auctions - GlobeNewswire
1stDibs Corners The Market For “Mid-Market” Auctions  GlobeNewswire

Annual Fantasy Baseball Auction - Press of Atlantic City
Annual Fantasy Baseball Auction  Press of Atlantic City

Going Once, Going Twice: How to Bid on a First-Class Seat - The New York Times
Going Once, Going Twice: How to Bid on a First-Class Seat  The New York Times

Online tax auctions coming to Ellis - Waxahachie Daily Light
Online tax auctions coming to Ellis  Waxahachie Daily Light

The Kiwanis Club of Prescott Community Foundation Presents the ... - Prescott eNews
The Kiwanis Club of Prescott Community Foundation Presents the ...  Prescott eNews

Sotheby's Pauses NFT Auction Citing Imbalance in Representation - Crypto Times
Sotheby's Pauses NFT Auction Citing Imbalance in Representation  Crypto Times

Center for Human Services fundraising gala and auction April 1 in ... - My Edmonds News
Center for Human Services fundraising gala and auction April 1 in ...  My Edmonds News

Staking a claim: Annual unclaimed property auction draws bargain ... - Cronkite News
Staking a claim: Annual unclaimed property auction draws bargain ...  Cronkite News

PHOTO: Times Herald hosts auction | News | carrollspaper.com - Carroll Daily Times Herald
PHOTO: Times Herald hosts auction | News | carrollspaper.com  Carroll Daily Times Herald

Wilber family auctions era ends a century later - Coldwater Daily Reporter
Wilber family auctions era ends a century later  Coldwater Daily Reporter

U.S. FDIC weighs backstop on bank auctions to attract smaller peers - Reuters
U.S. FDIC weighs backstop on bank auctions to attract smaller peers  Reuters

'This car will help hundreds of veterans,' Honor Flight Nevada auctions classic Porsche - KRNV
'This car will help hundreds of veterans,' Honor Flight Nevada auctions classic Porsche  KRNV

Annual F&G fur auction online in 2023, begins April 10 - Local News 8 - LocalNews8.com
Annual F&G fur auction online in 2023, begins April 10 - Local News 8  LocalNews8.com

Raverat Engravings, Wellington Letters, and 54th Massachusetts ... - Fine Books & Collections Magazine
Raverat Engravings, Wellington Letters, and 54th Massachusetts ...  Fine Books & Collections Magazine

Around Siouxland: Annual Bishop Heelan Auction - KTIV Siouxland's News Channel
Around Siouxland: Annual Bishop Heelan Auction  KTIV Siouxland's News Channel

Pieces of Paul Newman and Joanne Woodward’s Life Together Head to Auction - The New York Times
Pieces of Paul Newman and Joanne Woodward’s Life Together Head to Auction  The New York Times

Pierce Brosnan Says 'GoldenEye' Pinball Machine Found 'Good ... - PEOPLE
Pierce Brosnan Says 'GoldenEye' Pinball Machine Found 'Good ...  PEOPLE

How the art market continues making millions – defying expectations - Style
How the art market continues making millions – defying expectations  Style

Scott’s Run Settlement House to hold auction fundraising event - WBOY.com
Scott’s Run Settlement House to hold auction fundraising event  WBOY.com

Allegany County online tax auction starts today - THE WELLSVILLE SUN
Allegany County online tax auction starts today  THE WELLSVILLE SUN

New York returns 'extraordinarily rare' gold coin to Greece — after it set auction record for $3.5 million - CNN
New York returns 'extraordinarily rare' gold coin to Greece — after it set auction record for $3.5 million  CNN

More Than $200,000 in Handbags Stolen from Manhattan Auction ... - Observer
More Than $200,000 in Handbags Stolen from Manhattan Auction ...  Observer

eBay Auctions Sneaker Icon Joy Claire's Personal Collection For ... - Gotham | Modern Luxury
eBay Auctions Sneaker Icon Joy Claire's Personal Collection For ...  Gotham | Modern Luxury

Ernest Hemingway letters hidden in Long Beach attic going up for auction - Newsday
Ernest Hemingway letters hidden in Long Beach attic going up for auction  Newsday

Schumacher's Ferrari F1-2000 Is Heading to Auction - Road & Track
Schumacher's Ferrari F1-2000 Is Heading to Auction  Road & Track

Ultra rare classic car up for auction – you could own one of four models left in the world, and it won’t br... - The US Sun
Ultra rare classic car up for auction – you could own one of four models left in the world, and it won’t br...  The US Sun

sheep, goat auction - Lampasas Dispatch Record
sheep, goat auction  Lampasas Dispatch Record

First 2024 Chevy Corvette E-Ray headed to Barrett-Jackson auction - Autoblog
First 2024 Chevy Corvette E-Ray headed to Barrett-Jackson auction  Autoblog

Superlong JGB yields rise before debt auction - Yahoo Finance
Superlong JGB yields rise before debt auction  Yahoo Finance

Big hats, deep pockets: Houston Rodeo 'auction angels' champion ... - Houston Chronicle
Big hats, deep pockets: Houston Rodeo 'auction angels' champion ...  Houston Chronicle

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