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Automatically increasing bid?

 
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avsupermarket
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PostPosted: Fri May 30, 2008 8:28 am    Post subject: Automatically increasing bid? Reply with quote

Hi!

OK hands-up I _have_ used another sniping tool, AceSniper, mostly because it's built into an excellent application called Prospector. Sadly Prospector is Windows only - thank goodness for VMWare.

Bear with me because it's strangely worded, but, the neat option AceSniper has is to "Automatically increase the final bid amount to the item's Minimum Bid, if the difference between your max bid and the price at the time of bidding is less than one bid increment"

Or put another way; if you set a maximum snipe price of $50 and at the time of placing the bid the system notices the item is sitting at $51 and the bid increment is $0.50 then it will bid up to the current price of $51 for you. Bit of strange one I agree but it _has_ worked for me in the past and resulted in successfully winning auctions.

Clearly the devil is carefully worded in the detail - this isn't an option which would commit you to placing a bid at goodness knows what silly value the price is at bid time, it simply covers you in the case where the maximum bid you enter is _very_ close to the price at bid time (less than a bid increment away and may just win you the auction by bidding a tiny bit higher.

What do people (especially Mario) think?

Regards,

Steve
Cambridge, England.
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PostPosted: Fri May 30, 2008 8:28 am    Post subject: Automatically increasing bid?

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Cupid



Joined: 09 Aug 2007
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Location: Bristol, UK

PostPosted: Fri May 30, 2008 10:46 am    Post subject: Reply with quote

Interesting, I can see that it might be popular with some.

Personally, I wouldn't want it to be the default behaviour, and I would not use it. That's because my maximum bid is just that, I really don't want to win if the price goes above that which I'm prepared to bid, even by a few pennies. I do however take into account what the bid increment is in setting my bid amount and sometimes that does mean that my bid is slightly higher than I'm comfortable with.
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nochkin
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PostPosted: Sat May 31, 2008 9:27 am    Post subject: Reply with quote

avsupermarket,

If I want some item for $50, but it sits at $150 then (based on your idea) I may win it for $151. But $151 is three times more than what I want to pay.

If you agree to pay up to $52, then put your max $52, not $50.
That's why your snipe is actually "your maximum bid"
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nochkin
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PostPosted: Sat May 31, 2008 9:28 am    Post subject: Reply with quote

... otherwise there is no big point of sniping. You can use proxy bidding by putting some high bid amount and let eBay handle it Smile
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Joined: 09 Aug 2007
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Location: Bristol, UK

PostPosted: Sat May 31, 2008 9:35 am    Post subject: Reply with quote

nochkin,

I agree with you.

However, I think what was being suggested was not quite as radical as your $150 example suggests. Only if the current auction price is within one incremant is it suggested that the bid amount be increased, so in your case it would only be increased to a maximum of $51, not $151, if the price went higher than $51 no bid would be placed.
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nochkin
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PostPosted: Sat May 31, 2008 1:48 pm    Post subject: Reply with quote

Cupid wrote:
Only if the current auction price is within one incremant is it suggested that the bid amount be increased, so in your case it would only be increased to a maximum of $51, not $151, if the price went higher than $51 no bid would be placed.

Heh... Just watch. This is just a first step.
If that feature will be implemented then someone might ask for 2 increments or, even better, an adjustable number of increment steps etc.

I think it comes from people who did not realize yet how sniping works.
Once they realize, the whole world will be different for them and their sniping strategy will be different and more precise.
My guess is that they need to get a better feeling how proxy system works -- that's the main mile stone on the path of being a sniper.

But that's just my ideas and how I see it...

P.S.: on another hand, less people understand it = more chances for real sniper to win.
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PostPosted: Sat May 31, 2008 2:38 pm    Post subject: Reply with quote

Would it be say if I set my max snipe to $50 and after it sniped the bidding was $50.10 which would be less than the next bid increment meaning the other persons max bid is $50.10 then it would bid the extra increment?

If it is seems like a good idea to make sure you win if you less than a bid increment away from winning. Very Happy
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nochkin
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PostPosted: Sat May 31, 2008 8:09 pm    Post subject: Reply with quote

Anonymous wrote:
Would it be say if I set my max snipe to $50 and after it sniped the bidding was $50.10 which would be less than the next bid increment meaning the other persons max bid is $50.10 then it would bid the extra increment?

The next increment in your example is $51.10. Are you ready to pay $51.10 for item where you wanted to pay $50 only? That's extra 2% on the top of your maximum price.

Anonymous wrote:
If it is seems like a good idea to make sure you win if you less than a bid increment away from winning. Very Happy

Although it's a slightly different topic, but you can't be "sure to win" by just bidding next increment. You are not the only sniper out there, and other people might be interested in the same item.

P.S.: I sold some item today for about $80. The actual cost is about $30. But two bidders got into the bidding war by thinking "just one more increment and it's mine". They did not use proxy bidding, but just kept bidding by one increment.
The whole sniping idea is to avoid that bidding wars.
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avsupermarket
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PostPosted: Mon Jul 07, 2008 7:13 am    Post subject: Reply with quote

Quote:
However, I think what was being suggested was not quite as radical as your $150 example suggests. Only if the current auction price is within one incremant is it suggested that the bid amount be increased, so in your case it would only be increased to a maximum of $51, not $151, if the price went higher than $51 no bid would be placed.


Precisely so. I'm certainly not suggesting "Automatically bid whatever it takes to win the auction by increasing my snipe to the prevailing bid + the next bid increment".
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