blowero: You are entirely right that last second bidding is a legitimate bidding tactic. I’m not annoyed at getting outbid. When I see something I want, I bid once, bidding the most I’m willing to pay, and if someone outbids me, that person deserves to get the item, regardless of when they outbid me. That’s all fine with me. I just don’t see the point of bidding at the last second, or even more, repeatedly bidding in small increments.
E-bay’s proxy bidding will bid for me at the last second, regardless of when I bid, so if I am bidding my maximum, it doesn’t benefit me at all to wait for the last second. Assuming that Bob and I are the two highest bidders, if my maximum is $50.00, and Bob Smith is willing to pay $60.00, he’s going to get the auction for $51.00, regardless of who bids first or when either of us bids.
My one complaint, and it’s fairly minor, is that waiting until the last second inconveniences those you are outbidding, without helping you in any way. In my example above, I was bidding on Batgirl comic books. I found a good set, and bid what I was willing to pay, $50. Had either of the people who outbid me in the last minute bid earlier, I could have redirected my $50 bid to a similar set that ended earlier, and which had a lower BIN price. As it turns out, I got a similar set for a few dollars less from an auction that ended an hour later, so I came out a bit ahead. As I said, there’s obviously nothing wrong with it, I’m annoyed only because it inconveniences me and I see no benefit to it for the person doing it.
The thing that truly mystifies me is incremental bidding. One of the bidders in my Batgirl auction bid, in the space of a minute, $30, $35, $40. While I’m amazed at the speed of the connection this guy must have to get that many bids in that fast, I truly don’t understand how this strategy could possibly benefit this bidder. I assume he was hoping to get it for less than $30 (his first bid), but cannot understand why, given that he was obviously ready to bid $40 from the start, he didn’t just bid once for that amount. I don’t see any way that this strategy could save money.
Nah, I’m happy to bid once, bid my maximum, and bid when I find what I want. I’ll let the proxy bidding system take care of snipers for me. If they outbid me, that’s fine, I wouldn’t have wanted to pay that much anyway.
My last E-bay story. I have a set of Legion of Superheroes vol. 2, 1-63 in NM condition that I paid $5.00 for (these are worth about $40.00. The opening bid was $5.00, I bid $50, and nobody bid against me. The listing had spelled the title Legoin of Superheros, and I was apparently the only one who found it. I love finding badly misspelled auction titles, as that means less competition.