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Fear of losing 'causes overpaying on eBay'
- mhartl 18y agoThis phenomenon is well-known in the offline auction world: it's called the "winner's curse".
- sidsavara 18y agoInteresting. No wonder their ads also talk about shopping victoriously - the more the item seems for, the better off the sellers are so they'll sell more AND ebay gets a higher amount of fees. They also use their emails to put a sense of fear into you. Like, hey you've been outbid - you better go bid more money. Or else. Bad things will happen! You'll be sad!
- vaksel 18y agoYeah because of this sometimes you end up paying more for a used item than it costs to buy it new from the store.