Tricks to win Ebay bids?

[big_teee]

I don't currently have a ebay account, but may get one to bid on the MJT Strat bodies.
Is there any tricks, or software to aid in getting winning bids?
Discuss away!
T

[tedmich]

Snipe programs can work well with a fast connection, I've won many auctions in the last <5 seconds using JBidwatcher
https://www.jbidwatcher.com/

You may need PayPal too and those can take a while to set up

[big_teee]

Thanks Ted.
Can you give me a run down on how you use it, for us Dummies?
I know nothing?
T

[Chuck H]

I snipe. No program. But I've come to the opinion that it doesn't really help much. You see... *Bay automatically bumps your bid for! So there's really no point in sniping. *bay has a minimum and automatic upbid of something like 50c and allows you to install a maximum bid. So if an item is at $5, but you'd be willing to pay as much as $10, you can put in a $10 max bid and the auction price will go to $5.50 with you as the current high bidder. If some other bidder puts in a max bid of $7 the auction price will go to $7.50 and you will still be the high bidder. Until someone else puts in a max bid higher than yours you remain the high bidder. Now...

What sniping DOES do is keep the price down. If everyone snipes, and most serious bidders do, then the price isn't driven up by the bidding war. In the last five seconds everyone plugs in their max bid and whoever bid highest wins. Without the snipe the bidding war will nearly always drive the price to market value. But if the price is kept low, without a bid war, the snipers are usually looking for a deal and the final selling price is usually lower. Not always.

The easy way is to just plug in a max bid and resist the urge to bump your bid up if you get outbid. You WILL be tempted, but don't do it unless you want buyers remorse. You have already decided what you are willing to pay. If you can't get it for that, it's over.

The easy way to snip is to just watch the screen. There's a second timer going at the top of the item description as the auction counts down. you can time your moves to make a bid (there is more than one step). If you don't make any clumsy mistakes you can plug in your max without leaving others time to counter. Not even snipe programs are relevant at this point because there is no time for anyone to consciously decide if they want to up their max bid. If a snipe program is doing it for you then you have already decided your max anyway. And so has everyone else.

Anymore I just plug in my max bid and try not to be present when the auction closes. That way I won't be tempted to spend more than I already decided on.

[big_teee]

Thanks Chuck!
Buyers remorse?
I've had that more than a few times, buying stocks, and mutual funds!
When you think you paid rock bottom price, just to see it drop like a rock the next day!
T

[tedmich]

Chucks strategy works but in my experience its unwise to ever bid before the last 5 sec, I've got a ton of real bargains sniping some newb who bid 4 days out. All early bidding does is ratchet up the price.

I believe at some point Ebay just ends the auction with the current highest bid and doesn't address the max bid someone put in a day or two ago. The auctions are strictly timed; its not like a "popcorn" auction (don't ask!) thank god.

If its a real mainstream auction with >3 active bidders that can require a different strategy, but most of the stuff I bid on had some guy drop an incremental bid days before and then forget about it. If you want to win, bid only at the close and snipe IME. Odd numbers can be your friend too, very often people's max bids are round numbers ($150, $35) and you can steal it with a $153 or a $37 with a snipe that leaves them no time to respond, if they are even present at the close.

If its an important auction it pays to set an alarm and guide it at the close.

It also helps to ask yourself "what is the highest price I'd feel good about paying for this item?" and bid that amount, not "how can I pay no more than X$s more than this other bidder?" Minimize the emotional/competitive aspects of an auction and buyer's remorse is much less common.

[Leo_Gnardo]

Buyers remorse? I've had that more than a few times, buying stocks, and mutual funds! When you think you paid rock bottom price, just to see it drop like a rock the next day!

Definitely! Your best stock/fund strategy is, buy what I just sold, short what I just bought. Works like a charm.

On Ebay, I've done well occasionally, on misspelled or mis-described items. Got a couple Boss pedals cheap thataway.

[Mick Bailey]

Buyers remorse.

What's the highest bid you're willing to place before the relief of not winning is greater than the joy of actually winning the item?

[g1]

I believe at some point Ebay just ends the auction with the current highest bid and doesn't address the max bid someone put in a day or two ago.

Nope. The highest max bid placed wins. (unless you're talking the last few seconds and your connection isn't fast enough).
If you place a $100 max. bid days before the auction ends, they can't sell it to someone else for less. There would be an incredible sh**storm we would all have read about if this were not the case.

[Chuck H]

Definitely! Your best stock/fund strategy is, buy what I just sold, short what I just bought. Works like a charm.

On Ebay, I've done well occasionally, on misspelled or mis-described items. Got a couple Boss pedals cheap thataway.

+1 on the misspellings! I search that way all the time. *Bay has an advanced search feature that lets you plug in all manor of misspelling for the item you're looking for. It will also let you delete any item with the "correct" spelling of the word in the title. I've gotten a couple of great deals that way.

Another good strategy is to hone in on items that have poor descriptions and pictures. If you're educated on the item you can usually tell if it's worth investigating anyway. So, find these early and ask the seller any questions you have. Almost no one bids on a poorly presented item. But if it's what you want and your questions are satisfied then it's their loss and your gain.

[Chuck H]

I fully agree that participating at all in the bidding war process can screw the pooch on the item price. But not always. If you can place your max bid early, before the price is very high, the snipers can only come in with their max bid as well. They're going to do it anyway so it makes little difference if your max is placed at day one or in the last two seconds. The highest bid wins no matter when it's placed during the auction.

The caveat here is that if you have a reasonable max bid in place and a newb wants your item they will bid incrementally and see that you are still the high bidder at every turn! This frustrates them terribly and they'll keep going until they either reach their hard max price or have surpassed yours by 50c. Very frustrating because if you hadn't put in your max bid early the wanker might have stopped as soon as they were just 50c better than some non serious bidders offer. There's a little art to it obviously. This certainly doesn't happen every time. Just as sniping is no guarantee either. IMHE the early max bid is the easiest thing to do without making an auction the focus of your life. Of course that can actually be fun too. YMMV

[g1]

Sniping is good for buyers. It keeps the prices down if most buyers are sniping.
If you were a seller, you would not have anything good to say about snipers.

[TomCarlos]

Terry and friends...

I have been on eBay for a long time, as both a buyer and seller. I have lost many items by a single "buck." But then again, I set my limit and that is that- no regrets. While I might not try to wait until the last 5 seconds (no snipe program for me), I don't show my cards too early. It's especially great when an item closes late on a Sunday night when everyone on the East Coast is sound asleep.

By the way... if you are selling... try to pick a time when the vast majority of eBayers are home and awake!!

There is one thing I do with great success. I place "Wanted" ads on Craigslist. You place the ad just like any other. But instead, you start with the header "Wanted." I am amazed at the number of calls I get from people who are TOO LAZY to place an ad to sell something yet they have the time to troll CL all day long. I post a picture and description of what I am looking for, and a dollar limit, then sit back and wait for the calls. I recently assembled a PA system that was a donation to a local high school- pieces coming from multiple sellers. But I got what I needed at bargain prices.

So as another means of finding a specific item, give it a try... run a Wanted ad on CL.

Tom

[tedmich]

Nope. The highest max bid placed wins. (unless you're talking the last few seconds and your connection isn't fast enough).
If you place a $100 max. bid days before the auction ends, they can't sell it to someone else for less. There would be an incredible sh**storm we would all have read about if this were not the case.

I stand correc TED

[rjb]

+1 on the misspellings! I search that way all the time....I've gotten a couple of great deals that way.

Another good strategy is to hone in on items that have poor descriptions and pictures.

You should check out my auctions.
Right now, I've got up some nice Gilson electricals, a Marlin acoustical, a Paul Read Smith, and a 4-string Rockinbetter, all with NO RESERVE.

EDIT
And in the folk instrument category, I've got a beautiful Waverly No-Knot banjo.