the problem, the way I see it, with all the "multiple every day raise your high bid over and over again" style, is that if you have 2 folks with that same mindset, you artificially raise the price, and sometimes dramitically...
perfect example is the spiderman's CS...
a generic example:let's say bidder A places an initial $1000 bid...and then Bidder B, "fishes", to see where Bidder A's high bid is (which is what the bidding history looks like to me, casting out multiple small increment bids)... once bidder B sees Bidder A's "max", they can plan a bidding strategy... however, if Bidder A gets "itchy" and starts throwing out more bids, then bidder B continues to fish, and the next think you know, you have a $1000 figure at $2000 or more...
my "advice" to bidder A to win the figure, and to win it as reasonably as possible, would have been to stop all the multiple bids, and be patient and pay attention to the auction, and bid one strong bid at the end, hoping not to have other "fishing" bids out there...
but, that style is not , obviously, for everyone, so to each his own![]()
Bidder A will be pi$$ed if he ever finds out who Bidder B is
Exactly, it's those kind of situations that cause an auction item to get stupidly overpriced. It's better to sit back, pay attention, check the bid history if there are already multiple bidders (see what kinds of bids the competition is placing, and in what kind of dollar increments), and then bid strongly but smartly, right at the end.
Placing your max bid early and "walking away" is fine, but if you have a bidder stubbornly chipping away at your max all week (and that happens all the time), I personally think that's counter-effective compared to placing that same bid near the end.
Last edited by cjefferys; Jun 26, '09 at 11:07 AM.
Super crazy high prices have a tendency to release more (if there are any) items on the market. There may be some more diamonds coming out of the woodwork in the next couple of months. So two 'gotta have it' bidders don't have much of an impact in the long run. IF there are only two. More than that and the cycle returns when the next item is up. More than three and you no longer have an artificial inflation it is a trend.
In the two high roller situation, one will win and then the next item up returns to a normal value. With an auction (live or ebay) you only pay what the second bidder is willing to bid, correct?
I think ebay has a very short completed item lookup now in order to take advantage of these types of situations tho.
Who is bidder B?