What the hell just happened?

[Robin427]

I have been bidding on an engine on eBay. I was the highest bidder for about 2 days (only one other bidder), but in the last 30 seconds of the auction, I was outbid, with no chance to change my bid.

http://www.cobraclub.com/crcforum/user_files/2064.jpg

Obviously some sort of automatic system.

I'm bl**dy annoyed at this, I was looking forward to getting that engine...

What software could they have been using?

Robin

Drive it like you stole it...
http://www.creffield.com/cobra/index.html

[cushti]

I use E-bay a lot & this happens frequently to friends I know but it's their own fault. There is no software being used. It can take 10-60 seconds to log a bid - depends how busy their server is, how quick your PC can download e.t.c. Some people only bid, for example, one pound higher than the last bidder so the whole auction is a bit like a cat & mouse game. Some wait to the last minute to bid, as they know this, in the dying seconds knowing other bidders are unlikely to get their bid registered in time, as happened here. This is the 'excitement' they crave - bit like gambling & one of the reasons why E-bay is so popular.

This whole strategy is pointless. The only way to avoid this is to proxy bid how much you are willing to pay right from the start. That way you will only ever pay about one pound more than the last highest bidder, you don't have to watch the auction till the last minute and you can only lose if someone goes higher than your highest bid (but you weren't willing to go higher than that anyway as it's not worth it!).

In other words if you were willing to pay a maximum of 1000 for this engine, for example, then put 1000 in the bid at the beginning. If the highest rival bidder only goes to 900 then you would only pay 910. If they bid 1010 then you'd lose the auction but rightly so as you think this is too expensive.

[DrFelch]

I also use Ebay a great deal and have learned that it is absolutley pointless bidding until the last 30 seconds. If the item is going for £90 in the last 30 seconds and you think its worth £100, then put in a maximum bid of £101 (always slightly higher than a rounded number) in the last 30 seconds. If you are the highest bidder and someone else tries to bid, they may put £100 and will be instantly outbid by you and chances are will NOT have enough time to rebid so you win the auction. It really does make me laugh watching approx 4-5 people bidding frantically over a 3 day period and then someone (err, ie me !) comes in 30 seconds before and sticks an extra tenner on it to secure it. I may have paid £5 over the odds for something, but its still a bargain and I am just about guarenteed to get it.. It hasnt let me down yet.

There are also other ways to get the item if you desperately want it..

Marcus

[Miket]

Robin

Don't know if it suits your needs, but there is a brand new SVT Mustang engine and gearbox for sale in September issue of Kit Car Mag.

[nbracken]

Completely agree with marcus. from bitter experience this is now the only way that I bid. I wait until the last minute, then enter what I am prepared to pay. If I lose it, then it is easier to come to terms with.

[cushti]

Hi Nigel,

I don't understand why anyone waits until the last minute & then enters the amount they're prepared to pay - why not just put the same amount in at the start of the auction? It makes no difference.

Regards,
Justin

[DrFelch]

Hmm, its not quite as simple as that. If I was prepared to pay £800 for something that I REALLY wanted, I would be well peeved if it went for £810. I would rather be there watching it and waiting until the last min to ensure I got it.

Marcus

[cushti]

In other words Robin, the only way to avoid last minute bidders is to proxy bid the max. amount you're prepared to pay.
If the last second bidders then bid more than your max. amount then they deserve to win the auction.

Regards,
Justin

[Meeja_Celeb]

I believe that software is available to do your last-second (snipe) bidding for you!

for example:

http://www.bidslammer.com/help/?s=details

Whenever I bid for something on ebay, I generally go with the practices used by others on this thread..... ie decide what my max bid is, place the bid as late as I possibly can, that way, if my max bid is overtaken, then I would have been spending more than I should anyway!

[Andy302]

A bit after the fact I know but Ive just been told about this

http://www.snip.pl/en/

reading the blurb looks like it works similarly to proxy bidding, except it waits until the last 6 seconds of the auction to strike, thus giving th winning bidder not much chanc eto outbid. (unless hes using the same sort of site!)

Also its a server based routine so your own PC does not need to be on!

Ive regestered but not yet tried it out.

Andy