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Pushing the fucking price for the consumer up, man.
or have i missed something
i'm on your side
DiS appears to be putting up posts from 2003 can we fix this?
it's as if people are just bidding from 2003, this is the problem
I have this problem with people. why don't they understand?!?!?!?!
Had this discussion on facebook with some of my friends and relatives. loads of them do it because they think it helps them win things. it really doesn't. it helps the price go massively high for no reason at all.
Said it before, the final price is always whatever the second highest max bid is, order and timing makes no difference
Literally describing how an auction works
equal to the second highest amount bid, sure.
But in the event of two people making the same value high bid, then timing matters, no? Or does ebay not allow this to happen?
see what you mean. You win this round, ThingsThatFly
Only way to do it, really. Get involved: http://www.gixen.com/
Can anyone explain the pitfalls with just putting the maximum you're prepared to pay for an item, and not looking again until the auction is over? That's what I do.
skateboarding and making rude gestures.
the maximum you're prepared to pay isn't really a fixed amount. ie it'd be annoying to lose out for the sake of 50p
Set yourself a maximum. 50p more than that is a ripoff.
People think they lose out but don't know how much the winner was willing to pay, even if it is obvious they are edging up by tiny increments there is no way of knowing how much they would have gone up to. If someone wins it was because they were willing to pay more if you were willing to pay 50p more you should have put 50o more as your max
Give me a go. I love learning.
things that are actually proper auctions especially ones that start at 99p or low, usually sell for much less than they're worth, so people are very cautiously bidding trying to keep the price they pay as low as possible, or are demented enough to think they're gonna win something 8 days later for about 10% of what the thing can be expected to sell for, until inevitably there's a mad dash at the end.
not to even mention people who are monitoring auctions that are ending soon and looking out for bargains.
If someone else does, they were always going to, and you've wasted loads of time putting in fiddly bids when you could have just put in your max and walked off, leaving them to do that bit. Same outcome.
people who put in fiddly bids just don't understand. you watch something and then try and sneak in for a decent price right at the end. presumably you want the thing, presumably you want the thing for the least you get it for. if you get into a bidding war you have literally lost at life.
Can we do a real-world example so I can show why this makes no sense?
the camera i want sells typically for about £700. you can get them on buy it now for around this or slightly more. ones that are auctions start at say £10. What's the point in bidding £200 right at the start? there is none, yet *some* people start making little incremental bids - £50! £60! £72.50! dementedly thinking they might win. it's obviously going to sell for at least £600. but you come along on like day 2 and bid £600 and walk away. the last day comes and it's been bid up to say £590 but it has 50 odd watchers, there's obviously a bunch of people hoping to grab a bargain. a last minute bidding war gets the thing up to £613.57. it still sold for much less than you could buy it for elsewhere, but you lost out on it because you weren't there to slightly up your bid. people would only have to outbid your maximum by like 5p to win it.
That's why you put in your maximum bid. What you've described there is someone putting in a bid that's less than they're prepared to pay and missing out.
the only way you can ever win by your method is by paying more than something is worth, unless it's something that so few people wants that it goes by basically unnoticed.
In the above example, how much is the camera worth to you?
If it's £600, then someone else valued it more highly and paid more for it. No biggie.
If it's more than £600, bid how much it's worth to you. If the maximum you'd pay is £647.50, bid that.
i'm leaving the thread now
Well played to you in this thread.
then you always will have needed to bid more than that to win
just decide your max and put it in at the last second. if everyone did this it wouldn't creep up and you wouldn't have to pay extra to cover the derisory or over optimistic bids that push it up
but don't you like bidding on things you don't want, edging it up and up but hoping you don't win the thing
sounds like you don't really understand ebay. you should probably just go to a shop.
The creep up just happens in the last 30 seconds instead
if it happens slowly over the course of the whole auction people have time to make sensible decisions. the last minute method is people holding out for a better price by not driving the bidding war up.
Maybe a strategy in the last minute but when it gets down to the last 5 second peoples true bids come out. And while some may hold back some irrationally escalate a bidding war, think early bidding can work against that as it wards off some bargain hunters who may turn escalators if they wait to the end
but those other people forgetting to bid or typing a number that is lower than what they meant to type?
Nah makes no difference, mad rush at the end or spread over a week it's all the same. Think I've even warded people of after they've made a few futile bids and realise they're not going to outbid me and disappear in shame
last minutes bid in.
Say there's two bidders over a week:
Bidder 1: £1
Bidder 2: £1.10
Bidder 1: £1.20
etc each increasing their maximum bid until it reaches £2.
Bidder 1: £1
Bidder 2: £1.10 and it bidder 1 isn't waiting at the computer, bidder 2 wins for a cheaper price.
That's the logic anyway.
last minute or seven days' previous, they pay the same price for the item. £1.10.
if both bid at the same time, with say 10 seconds remaining, and bidder 1 puts in 1.10 and bidder 2 puts in 2.00 then 2 gets it for 1.20
If you put a £2 bid in days before, what's the difference?
to see you've outbid them and raise their bid accordingly. If you do it last minute then they might not and you will. Obv this does only work if their original maximum bid was £1. If it was £3 and you only did £2 they would still will. See? It's just trying to avoid a bidding war (if people aren't going if with high maximum bids to start with).
It still doesn't make as much sense as you both bidding what you want to pay for it, but if you're able to make money from other people being morons, fair enough.
who then forgot to check at the last minute
who beats Bidder 1 maximum bid before they have a chance to raise it.
because their initial bid was deliberately low and they planned to raise it at the last minute and then didn't for some reason.
lets say there's only one serious bidder and then a load of incremental twats. so if I put in £2 a week before all the incremental twats will push it up from there.
I don't bother myself, though. Just bid at the highest price I'm willing to pay and let it do its thing. If I don't get it, no worries - it went for more than I wanted to pay.
Life's too short, maaaan.
not sure why everyone doesn't do that. If anyone's interested I can put you in touch with my driver who has all their details.
Buy it now! £16.99, or make an offer
*makes offer for £12*
*receives counter offer for £15*
*makes counter offer for £13 with message:"Hi thanks for bargaining, I
can't go any higher than this, as it is faulty and there are working ones available for not much more"*
*receives counter offer for £16*
I love this whole thread. It's like a granddad becoming enraged with The Way Things Are
i always wondered who these people were, and now i know.
Bought a Marshall 8x10 cab for £127 delivered (price new: ca. £600). It smelled like a rehearsal studio and the vinyl was a state but it was in perfect working condition.
Then I realised I didn't have a car and that fucking thing wasn't going to fit on the bus. Sold it a year or so later for £350 to a guy in Wales who claimed to have been the bassist in the band that went on to become Funeral For A Friend.
Literally always put in a large bid first and leave it, never paid over the odds for anything, proof it makes no difference
might sell for less or more. you can always sell it for a fixed price.
everyone know gumtree is where the bargains are.
look at this gangsta's games room. squire strat and a 1/3 size pool table: obviously a man of refined tastes.
see you tomorrow, guys!
but I don't get how he's wrong
'How much do you want for it?'
'As much as I can possibly get obviously'
Now everybody uses eBay. There are no bargains to be had anymore.
Will only settle for a price I'm happy. Works well if the other person is prepared to do the transaction outside of ebay as it saves on a load of fees so the price can be lower.
Bunch of twat whoever you are *shakes fist*
At Christmas I bought a black dress with a few sparkles and stuff and when it came back I left feedback saying, 'you made me feel like Cinderella at the ball!'. I also bought a saxophone strap for my mam for Christmas and when it came back I said, 'Amazing service, thank you, you saxy thing!'
I need a life.
put auction start at 100 quid....buy it now at 500.
It got sold in bids for 600 quid. Once people have bid over the buy it now price that option vanishes.
World's gone mad.
I've found buy it now disappears after any bid, but annoying
this morning someone had pushed it up to £45
the reason i put £40 in before is cos that's what i wanted to pay for it. this chump stopped me from having it at this price, so I bid up to £50 on the assumption that they'd bid at least that, to punish them for denying me the synth.
people decide on their bid absolutely before hand and never change it
you done wrong ebay
way before the auction ended, then that can't happen.
there is a lesson there.
why put in £40 if you were willing to spite bid up to £50? you've wasted your time and now you're wasting our time with the story and you haven't even saved any money.
i was happy to pay £40. they were happy to pay more. i was happy to then risk paying £10 more than i wanted to in order to make sure they didnt get it for less than £50. It was a very low risk
What happens when you put your money in days too early:
You - £10
Person A- £1
YOU HAVE BEEN OUTBID
YOU HAVE BEEN OUTBID
YOU HAVE BEEN OUTBID
YOU HAVE BEEN OUTBID
YOU HAVE BEEN OUTBID
Ffs, shit it - £10
YOU HAVE BEEN OUTBID
Person A IS THE HIGHEST BIDDER
Person B - £13
Person A - £14
Person B - £15
Person C - £16
…….time passes and NOW here arrives that actual final minutes of the Auction
Person E - £25
Person A – £26
Person E – £27
AUCTION ENDED PERSON E IS THE WINNER FOR £27
Now let us see what happens if you wait and only bid in the last 20 seconds
You – 99p
Person A - £3
You - £3.50
AUCTION ENDED YOU ARE THE WINNER FOR £3.50
A saving of £6.50 off your maximum bid, and the item goes for £23.50 less than doing it the wrong way.
Phew. Glad we cleared this up before we got to 100 posts.
No way if it is an item of any value with serious bidders no one is going to think they can win an item for £3 when it goes for £27, in those last few seconds the real serious bids come out
Like it seems you assume the same cautious increments happen at the end as they do at the beginning
It would go
Bid 1 £1
bid 2 £2
Oh no ten seconds to go
Bid 3 £30 (safely bid knowing it will still go for cheap if no other bids)
Bid 4 £27 not winning bid sells for £27.50 or whatever
Think his post suggests they would not have time to get up to £27 even though that's what the max bid function does automatically
they lost out on owning the thing at the price they were happy to pay by not bidding properly
Yeah person e would not risk it, persons e are likely to be quite rare
it's just an example.
I did not mix my types of people. Sadly, scenario 2 is always ruined by someone from scenario 1 who thinks soemthing should be worth £27 so puts that in on day 1 instead of day 7 and forces the price of the item up. when it could/should stay under a tenner.
that auctions are ruined by the fact that some people want things more than you do
they just don't know how auctions work and make stuff go for more money than it needs to.
like, again, another example. In a real auction for whatever, a painting, a house, a cow - when the bidding starts at £100 noone stands up and shouts £10,000!!! and everyone has to take it from there. they just keep nodding.
this is not a great analogy becasue there is no time limit to real auctions, but imagine there was.....and you have ebay.
look at these 12 people pushing the price up with over 4 days to go.
They should Watch it, not bid on it.
and you haven't explained why they should watch it not bid on it
and get bidding on something else equivalent or on gumtree or whatever, meaning they get the thing they want sooner
therefore if they were just watching it, the price would still be £100 not £145. starting at minimum rather than £45 ahead of where it needs to be.
When this auction has 20 seconds to go, when they all put in their max bids:
Person A - £120
Person B - £130
Person C - £140
Person C gets it at less than it is now, with 4 days to go. Now I bet this will go for about £180 because everyone has started off bidding too early.
People just get carried away bidding because once they start they don't want to lose. They just need patience.
by bidding less than they were willing to. Ebay ensures you don't pay more than is necessary by only upping the amount you pay enough to beat the second biggest bid. What they've done instead is bid less than was necessary to win and less than they were willing to pay.
until other people have declared that they'll pay as much.
im starting to feel like you literally dont know the basic mechanics of ebay
it is so weird how there can be such immutable understanding of ebay auctions. I don't understand your side either.
But yeah I agree it isn't the best analogy, but the max bid is made public in the sense that ebay says You have been outbid, until you put in the highest amount. This should be done in the closing seconds not days before to give things too much time to get more expensive than they need.
You can put £100 on it and it will still go for £3.50 if the bid before was less (which is a nice way in which ebay works tbf to it)
When I put in a bid for a cow on ebay for £10,000 no one else knows until someone puts in a max bid of more than that
So it is not the same as in an offline auction
The correct analogy would be someone at the beginning of an auction thinking to themselves 'I will pay up to 10k for this cow' and then outbidding others incrementally up to this limit
if in ebay you put in £10,000 as your max bid. it essentially forces the starting price up to £10,000 for everyone else to start bidding.
thanks for that.
You are 100% wrong. You put in 10k as your max and ebay will raise the bid by one increment £1 opening bid will go to £1.50
so they will bid again and again and again aand again until they do win at £10,001
(as an example assumption case study
so yes - effectively starting it off at thousands instead of 99p
decided you'd pay up to 10k for the cow.
you#re def trolling now
I wouldn't accuse you of that either - just because we are totally opposed on this doesn't make either of us trolls.
My point with that auction analogy was that no one does that becasue it doesn't make sense to, the same way as it doesn't make sense to do it on ebay.
You can have in mind your max bid, just don't put it into the system and force the price up. that's the point. Just put it in right at the end and the price hasn't been forced up and over it already.
but it is a bone I like to chew on because I genuinely don't understand why people do this. I mean - you have explained why you do it, but it makes no sense to me.
Why not find an auction with a few bids and then bid 10k and see what happens (you can always retract a bid as a mistake)
person A bids £10k
price: £1 to A
person B bids £20
price: £20+increment to A
person C bids £500
price: £500+increment to A
person A retracts bid as mistake
price: £20+increment to C
person D, who's been watching the whole thing and feels like trolling a bit, bids £200
price: £200+increment to C
person D has just taken £180ish from C and given it to the seller
force the price up? the price is just increased by people telling eachother that they'll pay more by publicly stating that they'll pay more than the current bid, in the form of bids.
please give an actual example of where not bidding until the last 30 seconds means that the price stays low. as tft says upthread, the item still goes for [the price that [the person prepared to pay second most for the item] is prepared to pay]+ebay's increment
? Who won't win? If you put in 10k and the next highest bid is £1 then you get it for £2 (one increment above the next highest bidders max). If it goes fir £10001 it is because someone was willing to pay that and more as their final max bid is never revealed
so you lose it. But if you hadn't have put in the 10,000 who knows how low it would have gone for. You've done yerslef.
'done yerself' being a reference to the person bidding, not to your post and the discussion. just in case you think I'm being a dick.
It will go for the second highest bidders max bid regardless. You seem to be confused with bids and max bid, and the automatic bid system
I'm sorry but you really are.
Say you see that pog pedal and think I will pay £200 for that, bang that in to ebay as your max and it will bid up to that for you. If the current bid is £10 it will mean your bid is £12.50 (or whatever the increment is), you are wining the bid at £12.50 no one knows you are willing to pay £200.
Now person 2 is willing to pay £300 so they put that in which means their current bid is £202.5 one increment above your max. Auction ends and they win.
If they wait to the end you seem to think it will go for cheaper as if it is a game where people raise small increments and whoever is ahead at the deadline wins. It is not person 1 and 2 are willing to pay 200 and 300 respectively and will put in these bids at tge end because they won't want to risk losing at a price they are willing to pay. Goes for 202.5
I'm going to try and set up an illustrative excel spreadsheet
should prioritise [the auction ending on a small amount and the seller getting as fucked as possible] above [making sure that they get an item they want or need at a price they're happy to pay] via the mechanism of everyone only ever bidding the minimum winning bid, with the winner in the end being the person who did this at the last moment, so essentially just chance
and I have given up trying to bid for nice guitars on ebay a long time ago.
But surely it is eminantly understandable (although damnably annoying)
was nice knowing you buddy!
you're not going are you alcxxk?
Please don't go alcxxk :'(
i think he's either saying that i've been lost to "the people who don't know how to use ebay" OR that i've been lost to "the people who try to reason with trolls", which isnt very generous to ol' goatmeat
then person A bids £12 with a £20 maximum bid, and person B bids £12.50 with an £18 top bid. the auction ends. Who wins and how much do they pay?
then person B has to bid £30 or something and person A decides to what similar items are available at a less ridiculous price.
Person a at 18 plus one increment
Person B must be pretty peeved at this point.
But that is how ebay works on a basic level, in fact person b would never have had a bid at 12.50 he would automatically been out bid at his max level as person a has a higher max. Person b probably is peeved and thinks he was snipped by 50p not considering he doesn't know person as max was higher in this case 20
I'm not fucking reading this. Presumably its just the same argument over and over and over again yeah?
God bless dis.
your side wont justify their nonsense and my side cannae believe it
the number of days in the week.
Great job all!
TEAM JUST-BID-HOW-MUCH-YOU-WANT-TO-PAY WINS!
Which side is not saying 7?
Person A bids £1
Person B bids £20
currently person B is winning at £1.20
person C bids £20
does this push the winning bid to £20 or does it stay at £1.20?
but prompts person C to up their bid to the increment above £20
max bid £20
actual bid £1.20 = current bid £1 + increment 20p
does it say minimum bid £20?
and then tells them they've been outbid at £1.60 immediately after they place their £1.40 bid.
by entering a maximum (i.e. current highest bid + minimum increment).
you are not, actually
probably, since that would encourage more bids
it is telling you that no one has a higher maximum yet
would you have to pay £1m?
I'll actually concede early bidding may make a difference because if psychological factors (spite bids and getting caught up in it and overbidding) which have longer time to play out (personally I think this is countered as it also puts a lot if people off), but the mechanism people are describing for why it makes a difference is totally incorrect.
all points awarded to smee and the goat
but people not being able to control their spending isn't really everyone else's problem
You only won if you were arguing for the psychological factors, if you were claiming early bids in themselves bump up the price then you lost, big time
Don't be so hard on yourself
what's going on here?
Some glorious misunderstandings of a fairly basic system going on upthread. I'm with ThingsThatFly and alcxxk on the mechanics side. But I tend to bid as late as is convenient because I put a relatively high weighting on psychological factors. Sure, the timing of your bid /shouldn't/ make a difference to the end price. But people get irrational in the late stages. Give 'em a chance to stew on not being the high bidder and you open yourself up to them saying 'sod it' and realising that, actually, they /are/ prepared to bid a little higher. I don't like to give them that thinking time to come to that conclusion.
even if you know it's costing you more than you'd like in order to be the winner.
On madbid you have to pay a flat fee in order to make each bid (paid for out of a supply of credits that you buy upfront in blocks). And when you bid, the auction time is extended by a few seconds, or minutes, so can go on for aaages if loads of mugs are bumping up the price of, say, a car incrementally (paying for each bid, remember). And then when you don't win, but have sunk credits (i.e. cash) into bidding unsuccessfully, you get the chance to use that otherwise lost money to buy the item for a (well above RRP) fixed price.
Not a scam per se. Just a snare for greed/desperation/idiocy (/or, if being exceptionally generous, plain innocence).
I think there might be psychological factors that favour early bidding as well though. When you get lots of lurkers right at the end, some with their heart set on winning, in the heat of the moment they might start escalating their bids beyond what they really want to pay. When the price has already raised early on and there isn't the immediate pressure to raise their bid right then they could over the coming days realise they don't really want to pay that much and not bid.
I always bid high and early, the usual way it goes is someone will make a bid that is not enough, they usually try 3 or 4 more times and then go away. no other bidders and then I win.
I imagine the psychology element plays out in slightly differing ways depending on the type, and also the usual selling price, of an item.
some people do not understand how eBay works, who these people are has yet to be definitively established
Some pretty insane overthinking in this thread.
but woke up this morning very pleased I contributed to this thread.
Just for the sake of tipping it over the 200 post mark, I still think you are mistaken about the mechanics after rereading the thread, you seemed to suggest that person a bidding £10,000 as their opening max bid forces person b to bid over £10,001, I don't understand why person b would do that, person b would try a few realistic numbers and then stop way short of that (there highest max being the winning bid for person a in a two bidder scenario), if person b wanted the item and were willing to pay their max then they will put that max in at some point whether early or in the final seconds or they risk losing the item at a price they were willing to pay. If both persons have put in their max bids at any point in the auction then the outcome is the same.
- you guys win by bidding high and early
- us guys win by sneaking in smaller bids which on balance probably means we get it for less
Sneaking in at the end is no use if your max isn't high enough, if I wait until the end to put in my max it is still going to win if it is higher. I can only assume you people think there is some advantage to with holding your true max bids and you are manually raising your bid rather than letting ebay do it, but most don't because they risk losing an item at a price they were willing to pay, so while they may start cautios in the closing seconds the true max bids come out. Basically if it is the same people with same max bids in mind early or late placement of max bids make no difference
One day the simplicity if the system will dawn on you and you will think 'oh no I was wrong on the internet'
i'd like to think one day you'd understand the difference, but you don't seem capable. most people aren't robots that only make one bid which is exactly what they want to pay for it, just aint how the game is played.
I don't assume they are, people do revise their max bids, but in the end the underlying reality if what someone is willing to pay comes out, if this dies come out then it makes no difference. Psychological factors can effect both styles, in the end some may not have time for their real high bid to come out, but a counter to that is that more time to consider means some will have more time to consider and not overreach their budget
I am assuming that person b wants it so will bid higher than person a to get it.
You are assuming the high initial bid will keep any competetive bids away
I am assuming people are putting in their massive highest bids aware that ebay will only use an incrementally winning amount.
it is very hard to provide evidence of what the outcomes of each method would be on one item. however I have noticed that when people bid early the price of things is high, when there are no bids until the last minute thge price of things is lower.
This is based on my experience of buying lots of pedals off ebay, which have a potentially high price. sometimes so high people may as well buy them brand new.
there are lots of assumptions in this thread
some guys win by bidding high and early
some guys win by sneaking in smaller bids which on balance probably means we get it for less (© ethricdouble)
"I have noticed that when people bid early the price of things is high, when there are no bids until the last minute thge price of things is lower"
conclusion 2: everyone keep doing what you're doing if you're happy.
Why would person b ever bid beyond the amount they are willing to pay?
only that they want to win it
So you bid over £10k to find out?
items that are popular tend to go for a higher price
should have said about those pedals - I win the ones my style for cheaper than the ones done in the other style, because the ones done in the other style always go up too high.
i don't want to do this again. i have a shit pile of work that actually needs doing.
It's just perception, you feel like you snuck in at the end and got it for the best price but really it is because you bid higher, whether the price escalation happened over a week or in the final moments is irrelevant
it is really not just a matter of perception.
but we have already established we have our own price thresholds and methods.
Confirmation bias, you are only factoring in the times you have won at a low price, under your style of bidding you I don't think any other outcome is possible but that means you are probably losing more auctions
I mean you have to factor in all the times your method didn't win and how much it went for, not just the times you won at a price that met your criteria
is one big case study in confirmation bias.
I once bought too many tickets for a gig and sold the spares on ebay for more than face value #tout
also a friend was selling something on ebay but then changed his mind so asked me to outbid the buyer and 'win' the auction.
you're putting your bid in too early
with use of a webcam so you can nod to increase your maximum bid
what do I win?
100% positive feedback
come at me
whose ebay user name was rushedintohospital349 and wouldn't post things for a month or two, eventually saying he was rushed into hospital.
didn't really get why he did it. still don't.
One last post as I think I've clarified my thinking on this, whether it matters or not entirely depends on the mix of strategies of those bidding (and it can affect the price in both directions).
To take the example up thread if things selling for £40 more due to early bidders. This situation requires three people
1) Bidder who is holding out until the end
2) Bidder who is willing to pay up to £40 more (this ends up being the end price)
3) Bidder who put in a max bid of even more than £40 more (they win but their max bid is not revealed)
So scenario 1 - early bids
Everyone puts in their max bids early on, this could be straight away or after a series of competitor increments, bidder 3 wins as they bid more than bidder 2, it goes for bidder 2s max. I fully see how the max is not static, people revise how much they are willing to pay. But at the end of the auction it has been revealed that bidder 3 was willing to pay more, so while there is a distinction between bid and max bid, there is a third concept of actual max bid. And perhaps it may be the case that bidder 3 only went that high and realised they were willing to pay that much through getting into a bidding war with bidder 2 (but as I've said before and can work the other way, with less time pressure someone can consider their bid and may decide not to over stretch themselves where as if they are against the clock and caught up in it they may not be so wise)
So take the same three people and transfer them to scenario 2. There is a minute to go and it's currently going for £10 or something. At the last moment bidder 1 puts in their max bid (£40 less than the early winning scenario). Why would it go for that, what are bidders 2 and 3 in this scenario? They are willing to pay £40 more and over £40 more respectively, the auction is about to close and they would be kicking themselves for letting it go for less than a price they were willing to pay, so that is the price they would put in secure in the knowledge that they only have to pay that much if someone else bids close to their max, so they aren't paying over the odds as the other person would win otherwise. I don't see why they would play the game of withholding the real amount they were willing to pay right until the end, as if respecting the rules of some slight incremental bidding game is more important than winning.
I guess another thing is people out their bid in and then see someone made incremental bids that edged the price up until the early bidder is out bidded. They are angry that they missed out by one increment and regret bidding early and giving the other person time to suss out their bid. Again I think this is a matter of perception, it feels like they just missed out but really the other person was willing to pay more, but really the disappointed bidder has no idea of how much the other person would have gone up to to win the item. This is where the concept of 'actual max bid' comes in, the winning bidder is just manually bidding rather than letting ebay do it for them. If they had both waited until the end I don't see why the second bidder would put in a low ball figure if they were willing to pay more (remembering they would only have to pay more if the other bids panned out that way)
So in conclusion, it can make a difference through early competitive bidding making people realise their actual max bid was higher than they thought, but can also give people time to reconsider high bids might be over stretching. So yeah, dunno.
Ok read some game theory on ebay bidding, seems like the consensus is with sniping being optimal, but also that sniping is more effective against incremental bidders than early max bidders, so still think it is all about the mix and seeings as any auction I bid in will have me in, that mix will always have an early bidder.
but would surely only work in a one-on-one situation (a nibbler vs a sniper). With an extra nibbler the two nibblers would work out their max bids against each other, with an extra person who knows their max bid it would just be the highest max bid that wins.
interesting, I think maybe I just can't relate at all to people who don't know how much they would be willing to pay for something, seems to be the existence of these people that complicate it. And still think both nibblers and snipers can be put of by seeing an auction has had some serious early bids which can free things up.
and still think the same nibbling will just occur in the last minute that would have played out over earlier days, because no one ever waits right until the end, someone will panic and put a bid in before the last minutes as they want to start to be able to suss out what the competition is to gauge what there final last second max bid should be