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Tool Talk Discussion Forum

ANOTHER E-BAY QUESTION OT

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lenray

09-03-2007 14:11:25




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I asked a question concerning bids and the reserve price a couple weeks ago and got a lot of good answers.
Here I am again----wanting to buy an item with no reserve.
A bidder has bid 200.00 I can't be around to bid and am willing to go to 700.00. If I bid the 700.00 and there isn't any other bidding do I win the bid at 210.00 --the next increment--or do I end up paying the 700.00 even if there isn't any other bidding.
Again thanks for your help.

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Nolan

09-04-2007 05:37:30




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 Re: ANOTHER E-BAY QUESTION OT in reply to lenray, 09-03-2007 14:11:25  
You don't know the current highest bidders proxy. That's whatever he's said he's willing to spend.

Lets say it's $400. You'd get highest bid at $410 with your $700 proxy, exceeding his proxy.

But the auction isn't over until it's over. Most bidding takes place in the last 10 minutes of an auction. But if course if he proxy bid $1000, it will jump to $710, and you're out.

Don't place your $700 proxy bid until the last possible moment for you. That leaves less time for others to reconsider their bids and to decide to increase them.

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greenbeanman in Kansas

09-03-2007 14:23:15




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 Re: ANOTHER E-BAY QUESTION OT in reply to lenray, 09-03-2007 14:11:25  
Your bid is raised only to the required minimum increment with each successive bid. You would get the item for $210 as per your example.

I always like to toss in an odd amount such a $701.26 in case another bidder has decided to bid just so much and no more. Can't tell you how many times the odd amount has won me the item.



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paulatclf

09-03-2007 14:18:35




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 Re: ANOTHER E-BAY QUESTION OT in reply to lenray, 09-03-2007 14:11:25  
Yes, you'd get it at 210--unless someone else bids the same amount just before you do, or if the present highest bidder has more in his reserve bid (which wouldn't be displayed either). If nobody else bids it doesn't automatically end with your highest bid. The auction will end with the highest bid that exceeds the previous bidders reserve plus the increment. Ebay has made it really easy with some new programs for new ebay users--try it out.

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LenND

09-03-2007 14:21:45




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 Re: ANOTHER E-BAY QUESTION OT in reply to paulatclf, 09-03-2007 14:18:35  
Thanks! Learn something new every day.



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LenND

09-03-2007 14:18:15




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 Re: ANOTHER E-BAY QUESTION OT in reply to lenray, 09-03-2007 14:11:25  
I don't know about e-bay bidding. If you were bidding at any other auction and the bid was 200 and you bid 700 and no one else bid you just bought it for 700. The next increment after 200 would be your 700.



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Coloken

09-03-2007 14:39:05




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 Re: ANOTHER E-BAY QUESTION OT in reply to LenND, 09-03-2007 14:18:15  
Len, they call it "proxie bid" or how ever you spell it. It works like if you send some one to the auction to bid for you but tell him to not go over 700. He bids each time he needs to, until he buys it, or stops at the 700.



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LenND

09-03-2007 20:10:08




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 Re: ANOTHER E-BAY QUESTION OT in reply to Coloken, 09-03-2007 14:39:05  
Thanks! never thought about "proxie" bid. Should have remembered but they say memory is the first to go.



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iowa_tire_guy

09-03-2007 19:59:52




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 Re: ANOTHER E-BAY QUESTION OT in reply to Coloken, 09-03-2007 14:39:05  
Yes true but, my experience has been that whenever I send someone to bid at a real auction it goes for my last bid.



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