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Can someone explain this bid log?

 
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New_User
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PostPosted: Wed Jul 13, 2011 5:04 pm    Post subject: Can someone explain this bid log? Reply with quote

I've read various posts about bid logs but still am having a difficult time explaining this auction log:

Member Id: h***o( 41) US $228.00 Jul-13-11 17:00:43 PDT
Member Id: l***s( 224) US $225.50 Jul-07-11 15:27:51 PDT
Member Id: q**7( 9 ) US $216.78 Jul-13-11 17:00:43 PDT
Member Id: q**7( 9 ) US $216.78 Jul-13-11 17:00:43 PDT
Member Id: e***b( 51) US $210.00 Jul-13-11 17:00:35 PDT
Member Id: j***m( 367) US $187.77 Jul-13-11 15:25:05 PDT
Member Id: o***s( 4 ) US $107.89 Jul-08-11 21:18:43 PDT
Member Id: o***s( 4 ) US $102.89 Jul-08-11 21:18:03 PDT
Member Id: 1***a( 81) US $65.00 Jul-07-11 12:03:17 PDT
Member Id: j***7( 1089) US $45.05 Jul-07-11 13:03:07 PDT
Member Id: x***y( 884) US $30.00 Jul-06-11 19:32:03 PDT
Member Id: l***a( 545) US $30.00 Jul-06-11 19:36:44 PDT
Starting Price US $24.99 Jul-06-11 17:00:48 PDT

What I don't understand is where l**s came from with a bid dated Jul - 7 when they had no previous bid. I can understand being outbid but I can't fathom why the outbid was posted 5 days earlier. I bolded the line I am talking about.
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PostPosted: Wed Jul 13, 2011 5:04 pm    Post subject: Can someone explain this bid log?

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nochkin
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PostPosted: Wed Jul 13, 2011 8:03 pm    Post subject: Reply with quote

This is called "proxy bid". When somebody's bid is significantly higher than yours, but you see it as the previous bid plus increment only.
Once your bid came into the game, that somebody's proxy bid just stays as your bid plus increment. You don't know how much is it, but you know it's 228 or higher.

The highest bid wins, not the latest. Always.
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nochkin
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PostPosted: Wed Jul 13, 2011 8:04 pm    Post subject: Reply with quote

You can also click "Show automatic bids" in the bid history. For some people it's easier to understand it this way.
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New_User
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PostPosted: Wed Jul 13, 2011 8:53 pm    Post subject: Reply with quote

Yes, I understand that this guy outbid me, what I don't understand is why his bid was stamped on the 7th. He does not show up earlier in the record list. If he sniped in at the last second then surely it would read the 13th.

Or are you saying that he placed it on the 7th and was never outbid until the very final bid on the 13th and therfore his initial bid (placed on the 7th) floated along at the top almost to the end?
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New_User
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PostPosted: Wed Jul 13, 2011 8:59 pm    Post subject: Reply with quote

I read your response again and I think that it makes sense now.

Thanks
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Cupid



Joined: 09 Aug 2007
Posts: 2927
Location: Bristol, UK

PostPosted: Thu Jul 14, 2011 2:52 am    Post subject: Reply with quote

New_User wrote:
Or are you saying that he placed it on the 7th and was never outbid until the very final bid on the 13th and therfore his initial bid (placed on the 7th) floated along at the top almost to the end?


That is correct.

eBay displays the bids in high to low order... since you can bid any amount (that is at least on increment above the current price) at any time the timings are not necessarily in last to first order... as demonstrated by your example.

Put another way, when later bids come in that are lower than bids that have already been placed this is the sort of log you see... your bid was later but was not high enough to outbid the bid that was already there.

... and the moral of the story is that, on eBay auctions with respect to bidding size matters more than timing.

Of course timing (late) avoids reations from other bidders, that is the advantage of sniping, but there is nothing you can do if a bidder has already decided they are willing to pay more you and registered that with eBay... all you do by bidding is cause them to pay more than if you had not decided to bid yourself.
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