3 ms·
Yup. Same here for eBay and industrial equipment auctions - figure out my approximate maximum, consider the nearby round number, then add something almost trivi
by toss1 5y ago
Yup. Same here for eBay and industrial equipment auctions - figure out my approximate maximum, consider the nearby round number, then add something almost trivial like the "1.52" in your example. While it obviously doesn't help if the bidding runs up to another level, I've found it helps a surprising number of times. And if you actually want to win the bidding, definitely do not skimp to below or at the round figure - that marginal extra will provide way more value than the cost (i.e., not losing & spending more time & funds getting the item elsewhere).
Now, I wonder how long it will take for auction systems to start suggesting this type of bid and ruining the strategy so we need to find another strategy...
- TonyTrapp 5y ago> Now, I wonder how long it will take for auction systems to start suggesting this type of bid and ruining the strategy so we need to find another strategy... To be honest, the immediate issue that is already there in this very moment is that more and more people no longer sell their stuff as regular auctions on ebay, but as completely overpriced fixed-priced offers. This is the main distinguishing factor for me between using ebay ten years ago and now. If everyone starts doing that, the best bidding strategies become useless.