Ebay is dangerous!

Doug_Tipple · Post by **Doug_Tipple** » Fri Mar 10, 2006 11:03 pm

Do you ever get into the mood when you feel like you need to buy something? I do. Ebay is dangerous because I can sit in my living room and start bidding on all kinds of things from around the world. There are others, just like me, who are doing the same thing. They overbid me on an item that I just bid on. I can't let that happen, no way. So I increase my bid, and I am relieved to see that I am now the high bidder. But my blood pressure starts to increase when I get the email that I have been outbid for this item. Where does this process all end, when I run out of money, or when I no longer have any remaining space in my living room?

Unseen122 · Post by **Unseen122** » Fri Mar 10, 2006 11:06 pm

Yes it is. This may help take the edge off. Like they say, bids in the last second automatically. Just put in the most you can pay, and wait until that last day comes.

Miwokhill · Post by **Miwokhill** » Fri Mar 10, 2006 11:29 pm

What happens when every one is using auction sniper? That's not why I don't intend to use it but it's a thought.

I haven't bought that much stuff on ebay but I don't bid at all until the last minute. What's the sense? It just lets others see your hand and raise it. I'll decide how much I'd be willing to pay and bid that with about 45 seconds left. Then if someone tries to outbid me they'll have to guess how much higher I've gone above the 'current high bid' Hopefully there won't be enough time for them to bid once...see that their bid still isn't high enough and have to bid again, still having to guess what my high mark is.

mike

Doug_Tipple · Post by **Doug_Tipple** » Fri Mar 10, 2006 11:52 pm

Mike, you are a smart cookie. I follow the same strategy on most auctions. However, for one-of-a-kind auctions, when a buy it now price is offered, I like to bid early to wipe out the buy-it-now option. Then we can slug it out in the last few seconds. Whew, I am glad that's over.

Miwokhill · Post by **Miwokhill** » Sat Mar 11, 2006 12:35 am

Doug, Coming from you that IS a compliment!

You bring up something I wasn't aware of...does bidding wipe out the buy it now option? I mean if the buy it now was $100 and you bid 80. isn't the buy it now still in effect? I thought it was until either someone took that option or the bidding goes above that 100.

I hear you on one of a kind items though. It's one thing to take a chance on something that you know there will be more of but if that's the only one it gets scary.

mike

Doug_Tipple · Post by **Doug_Tipple** » Sat Mar 11, 2006 12:53 am

Miwokhill wrote: You bring up something I wasn't aware of...does bidding wipe out the buy it now option? I mean if the buy it now was $100 and you bid 80. isn't the buy it now still in effect? I thought it was until either someone took that option or the bidding goes above that 100.

I hear you on one of a kind items though. It's one thing to take a chance on something that you know there will be more of but if that's the only one it gets scary.

mike

Unless there is a reserve price, any bid will cancel the buy-it-now option. If there is a reserve price, then you need to creep up to find what the reserve price is. For a one-of-a-kind auction, once you have bid above the reserve price, the buy-it-now option will no longer be available. You will have to fight for it in the last seconds of the auction.

Walden · Post by **Walden** » Sat Mar 11, 2006 1:21 am

What is the point of reserve prices? Why not just set the minimum bid there?

Doug_Tipple · Post by **Doug_Tipple** » Sat Mar 11, 2006 1:41 am

Walden wrote:What is the point of reserve prices? Why not just set the minimum bid there?

The answer to your question has to do with the fee structure on ebay. Sellers are charged a fee according to the amount of the opening bid, so it is advantageous to keep the opening bid as low as possible. There is also a fee for a reserve-price auction, so it all gets a little confusing when you are a seller. And, you guessed it, there is also a fee if someone completes the auction, which is called a final evaluation fee. The lawyers at ebay have it worked out coming and going. The more you buy and bid, the better they like it.

anniemcu · Post by **anniemcu** » Sat Mar 11, 2006 1:51 am

In the voice of Weird Al... "What I bought on Eeeeeeeeeeeeee-bay..."

"I'm the type who
is liable to snipe you
with two seconds left to go...whoa-oh..."

anniemcu · Post by **anniemcu** » Sat Mar 11, 2006 1:56 am

Doug_Tipple wrote:
Walden wrote:What is the point of reserve prices? Why not just set the minimum bid there?
The answer to your question has to do with the fee structure on ebay. Sellers are charged a fee according to the amount of the opening bid, so it is advantageous to keep the opening bid as low as possible. There is also a fee for a reserve-price auction, so it all gets a little confusing when you are a seller. And, you guessed it, there is also a fee if someone completes the auction, which is called a final evaluation fee. The lawyers at ebay have it worked out coming and going. The more you buy and bid, the better they like it. I paid over $300 in ebay fees last year. I am not complaining, though. I could not sell a flute to China without advertising on ebay.

Actually, the fees are based on the end, or selling price, with extra charges for extra services, depending on the listing. I think that many people want the bidding to start low, so that they will actually get bids, but still will only sell if it gets to the reserve price... they don't have to settle for the reserve price as a buy it now, and may well far surpass the reserve. Others set the reserve as a buy it now price, and are quite willing to sell at that price. It's kind of a toss up.

Wanderer · Post by **Wanderer** » Sat Mar 11, 2006 6:23 am

Walden wrote:What is the point of reserve prices? Why not just set the minimum bid there?

People will usually skip something with a higher starting bid, for some strange reason. I've had better luck selling whistles with a $10.00 starting bid and a $100 reserve than with a $50 starting bid, no reserve, and $75 buy it now..

Go figure

missy · Post by **missy** » Sat Mar 11, 2006 6:27 am

you get a lot more hits on something starting for a penny with a reserve, then you do for something starting at $10 (which is your reserve price). A lot of people look at items sorted by lowest price.

I never get into the bidding frenzy. I just bid my maximum amount - if it goes over that, I never rebid. I'm just not THAT into it.

And I never, EVER bid on anything that doesn't state what the exact shipping cost are in the auction. I always state a flat fee in mine.

emmline · Post by **emmline** » Sat Mar 11, 2006 9:16 am

Doug_Tipple wrote:... So I increase my bid, and I am relieved to see that I am now the high bidder. But my blood pressure starts to increase when I get the email that I have been outbid for this item...

I know this feeling, and have several vintage telephones to show for it. I stopped cold turkey.

Jack · Post by **Jack** » Sat Mar 11, 2006 11:13 am

Doug_Tipple wrote:
Walden wrote:What is the point of reserve prices? Why not just set the minimum bid there?
The answer to your question has to do with the fee structure on ebay. Sellers are charged a fee according to the amount of the opening bid, so it is advantageous to keep the opening bid as low as possible. There is also a fee for a reserve-price auction, so it all gets a little confusing when you are a seller. And, you guessed it, there is also a fee if someone completes the auction, which is called a final evaluation fee. The lawyers at ebay have it worked out coming and going. The more you buy and bid, the better they like it.

(I'm sure you know this, Doug, but...) There is an old Quaker testimony against the participation in auctions. Auctions are traditionally seen as being dishonest because they start at one price and involve competetion for higher prices from people (capitalism is also dangerous in this view). In addition, the first US Friends stores that were so successful relied soley on honesty in pricing and fair dealings at a set price for all people, and that's how they survived (and also why the oatmeal company stole our name). Too, auctions can foster addiction in just the same way as can gambling and lichen. I believe auctions are inherently evil things. That said, I buy stuff on eBay all the time and I sell stuff not infrequently as well.

BillChin · Post by **BillChin** » Sat Mar 11, 2006 11:32 am

Retail "therapy" has been around a long, long time.

Thankfully, I enjoy window shopping as much, if not more than actually buying things.

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