Wednesday, August 02, 2006
A Day Of Listing
Yesterday was a full day of listing auctions on Ebay. We did a lot of work, but at this moment none of those auctions have bids. That is discouraging. Many people wait until the last seconds to bid on auctions so they aren’t raising the price as they keep bidding. We can still sell the items at the last minute, but it always makes you wonder.
Some people place a bid right away and usually if we have something that is very desirable someone will place a bid in the first 24 hours. People have different bidding strategies on Ebay.
Last second bidding is called “Sniping”. You snipe a bid by waiting until the last possible second to place the highest amount you are willing to bid on an auction. People with high speed connections often have win a bid by placing their bid in the last 5 seconds of an auction. They never bid until the very last. Other bidders are often surprised when they do not win the auction because someone sniped the auction in the last seconds.
Another strategy is to place a minimum bid in the very beginning of an auction. If no one else bids, you win. If the item regularly shows up on Ebay, you do not care if you win or lose. You are counting on winning a few auctions at a very good price.
Some bid early and then do not bid again until the very end. The are a bidder, but ignore further bidding until they snipe the auction in the last seconds.
The advantage of sniping is that you are not bidding against yourself. If someone else really wants what is offered and the two of you get into a bidding war, you can really raise the price fast. If you wait until the last seconds and place a bid that is a high as you are willing to go on the item, you have a good chance of winning.
Sniping requires you to bid reasonably on an item. If an item regularly sells for $30 and is currently at $15 and you snipe at the last minute for $18, you probably will not get it. Someone else will snipe it for $28 or an amount close to what the item normally sells for.
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