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how does ebay bidding work?

post #1 of 8
Thread Starter 
So I bid and lost. And thats fine but I don't really get the whole bidding system on ebay. When I placed my bid the item was 5$ and I placed my bid the last second and got outbid by someone who placed theirs almost an hour before I did (I'm the one with 64 feedback). Can I please get educated so next time I have a bit more chances to win tongue.gif

post #2 of 8

l***l put in a higher maximum bid than you did. Next time, if you really want to win the bid, enter the maximum amount that you would be willing to pay and hope the next highest bidder was lower ;) If it's much lower you get a bargain!

post #3 of 8
Quote:
Originally Posted by .Sup View Post

So I bid and lost. And thats fine but I don't really get the whole bidding system on ebay. When I placed my bid the item was 5$ and I placed my bid the last second and got outbid by someone who placed theirs almost an hour before I did (I'm the one with 64 feedback). Can I please get educated so next time I have a bit more chances to win tongue.gif

 

What did you put in the maximum bid? You're supposed to put in the max amount you're willing to pay in there, and everytime anyone bids, the computer automatically bids for you until you surpass that threshold. No point in waiting at home for the last seconds of a bidding because the computer will just enter another amount automatically from everybody else who put theirs in.

post #4 of 8
Thread Starter 
Quote:
Originally Posted by ProtegeManiac View Post

What did you put in the maximum bid? You're supposed to put in the max amount you're willing to pay in there, and everytime anyone bids, the computer automatically bids for you until you surpass that threshold. No point in waiting at home for the last seconds of a bidding because the computer will just enter another amount automatically from everybody else who put theirs in.
Ha! I was browsing led strips when I came across this bid with a minute left. I just put in 6$ and the same second it ended. redface.gif

So even if I put down 6.2$ it wouldn't necessarily mean I won because its not known how much the rest of the bidders are willing to pay. Did I get this right? Its a lottery not the fastest hand (macro).
post #5 of 8

It depends on how bad you want the item, how much you are willing to pay and how the bidding trend is. The end day and time where the item is can also be a factor. Always assume that somebody else is watching the same item and throw your highest bid at the last moment.

post #6 of 8
Quote:
Originally Posted by .Sup View Post


Ha! I was browsing led strips when I came across this bid with a minute left. I just put in 6$ and the same second it ended. redface.gif

So even if I put down 6.2$ it wouldn't necessarily mean I won because its not known how much the rest of the bidders are willing to pay. Did I get this right? Its a lottery not the fastest hand (macro).

 

Fastest does not count - it is all managed by a computer that takes all bids into account, not a guy shouting at high words per minute. A typical human auctioneer handles it this way: "$150! Do I hear $200! Yes Sir $200! Do I hear $250? $250, $250! No? How about $225? $225! Yes Sir $225! Do I hear $250? Going once, going twice...sold to the gentleman in the nice zebra suit for $225!" (just refine all that if you're thinking of Sotheby's instead of Storage Wars)

 

A computer takes in all bids, like a manual input for $150, but if the previous bidders placed their max bids at $175 and $250, then it automatically takes those bids into account in $25 increments for example (actually more like $2.50), and the guy who put his ceiling at $250 will outbid you and that guy who put $175. It's a lot more like a silent auction where people drop in their envelopes with their maximum bid, then auctioneers process them and then contact the winner.


Edited by ProtegeManiac - 4/21/14 at 8:47pm
post #7 of 8

I've done this many times on ebay. I see a bid on an item I'm interested in. Somebody has a bid but I don't know what his max bid is so I do a check bid to see his max bid. Check bidding is continually upping your bid til you outbid the other guy. So I now I know what he's willing to pay and if its more than me I walk. Usually somebody else who hasn't bid before wins. Its called sniper bidding. You bid at the last moment hoping that the other person can't up their bid any longer because the auction ended. I usually wait 10 to 15 seconds before the auction ends.


Edited by wuwhere - 4/21/14 at 9:20pm
post #8 of 8

.Sup, check out his work for more insight. He's a headphone guy too last time I checked: http://www.kenrockwell.com/tech/ebay/

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