got beat out by 48 cents????

Guest · Posted: Fri Mar 20, 2009 10:36 pm Post subject: got beat out by 48 cents????

I was bidding on a camera where the bid's were going up 2.50 cents at a time. I put a bid in for 227.50 for my bid snipe. the winning bid was 227.98, I lost by 48 cents. Can anyone explain this strategy or was it simply luck and how did they accept the bid?

mario · Site Admin Joined: 03 Oct 2006 Posts: 7240

Can you post the item id in question?

Finite · Guest

If that winning bid that defeated you was placed at a time that $227.98 met the increment requirements, all you did was push it up to its upper most level. As it was higher than your snipe, even if not a full $2.50 increment, it won because it was the highest bid.

juangrande · Posted: Sat Mar 21, 2009 10:51 am Post subject:

Losing by less than a bid increment is not as unusual as many people think it is. On a popular item (like a camera) which has a fairly well-determined market value, it is not uncommon that two individuals would place similar bids.
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Gixen · Advertisements

Guest · Posted: Sat Mar 21, 2009 12:45 pm Post subject: i was this item

110363717835

Finite · Guest

Well, there we go. Look at the four top bids. The winning bid (227.9 Cool

was placed when the amount met all increment requirements. Highest bid wins, and I've seen closer too.

g***n US $227.98 21-Mar-09 11:11:03 AEDST
l***e US $227.50 21-Mar-09 11:11:09 AEDST
t***1 US $176.95 21-Mar-09 11:11:02 AEDST
a***n US $117.51 21-Mar-09 11:10:39 AEDST

Cupid · Joined: 09 Aug 2007 Posts: 7919 Location: Bristol, UK

Yes that bid was going to win whenever it was placed because there is no other bid that made the auction price near to that value, when the last bid was placed by Gixen the price was still less than $180.

The highest accepted bid wins, as is often said here the amount is more important than the timing, sniping just protects you from other bidders deciding that they want to outbid you after your bid is placed, if they decide they want to bid more than you before your bid is placed then you will not win.
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Mark