Posted: Tue Dec 17, 2013 6:07 pm Post subject: Sniper vs Nibbler: Deathmatch
I won an an auction in a strange way today, winning by less than an increment over the underbidder even though I bid 3 seconds before the end.
The underbidder was nibbling like crazy for the last 16 seconds getting in 7 bids, or about one every two seconds until he lost with his final bid 2 seconds before the end which was 37 cents short of my winning bid of $66.66. If he was just 50 cents higher he would have won an item that sells for hundreds of dollars.
Even though the conventional wisdom is that I should have bid earlier so that I would have avoided an "minimum increment" loss, in this case it actually saved me, since the guy was using the "bid again" button, given the price action, and that would have automatically bid one increment above my maximum bid.
Notch one up for the snipers, and let this be a lesson to the nibblers.