4 ms·
The goal is to resell the stuff. Those traders are just gambling that the resell price is higher than the original price.
by qznc 10y ago
The goal is to resell the stuff. Those traders are just gambling that the resell price is higher than the original price.
- TeMPOraL 10y agoIt's the first time I saw "snipers" in this context. "Sniper" is the name we use in Poland for scripts set up to bid at eBay-like auctions. They are the reason I never buy anything from an auction (where I have to bid), and I stick only to buy-now, retail offers. It's because on any auction it's guaranteed that there is always some schmuck that will outbid you by 1¢ at the last microsecond with a sniper script. Proliferation of those scripts makes auctioning a waste of attention and emotional investment.
- Pietertje 10y agoIts a flaw in the auction design. A simple rule as the closing time will be extended by x minutes after the last bid would solve this.
- hrrsn 10y agoOur local auction site here in New Zealand, TradeMe, does that. Any bid in the last 2 minutes resets the clock to 2 minutes. Works pretty well for the seller, as prices tend to jump dramatically in these two minutes.
- dom0 10y agoThere is also at least one auction site with a similar business model that is practically a legal scam; bids cost money/points, and every bid increases the price by a fixed amount and extend the clock. Non-successful bids aren't paid back, of course.
- ticviking 10y agoThere are actually some good arguments for a cost to bid system. In theory it encourages people to bid their true preferences rather than waste time sniping.
- dom0 10y agoPersonally I find sniping quite enjoyable (as an idle-activity), but I also consider "recon" part of it (finding mislabelled or less widely known items that get the same job done usually results in huge effective discounts).