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Pillar of the Community
United States
4085 Posts |
Other reasons:
1) If you end up tied at the end of the auction, the bidder who made his bid first wins the tie
2) Once a bid is placed, it limits what can be changed by the seller - i.e., it "locks in" the terms of the auction
I think the most likely (as others have mentioned) are as a means to watch an item and as a way to get lucky and buy on the cheap.
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Valued Member
United States
259 Posts |
I think it is difficult to pre-judge that a coin will "most likely go" for $100, or for any particular amount. Have seen plenty of nice coins that got no bids at all. Maybe it should go for $100, but that doesn't mean it will. I find it equally or more questionable when I see a coin worth say $100 and the first bid is $99. Who is doing that? Is this really some arm's length buyer or someone in league with the seller? Why wouldn't a buyer start at $1 and see if he could get it?; if not they can always increase their bid.
Edited by chasinva69
05/19/2011 08:44 am
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Forum Dad
 United States
24185 Posts |
Quote:
I find it equally or more questionable when I see a coin worth say $100 and the first bid is $99. On ebay it's impossible for you to know that with one bid unless the opening bid was set at $99 by the seller. The high bid will only show the minimum required to be the high bid, the balance is a secret. |
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Valued Member
United States
312 Posts |
Bobby is right that you wouldn't know the first bid unless something was higher. But then again, I've been the second bid on items where it barely has to go up to beat the first bid.
Sometimes I've bid low on items because I want to take a look at them later and consider how high I'd go, and having an outbid item brings my attention back to it better than 'an item on your watch list is ending soon'.
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Valued Member
United States
320 Posts |
I do it sometimes...not often, but sometimes. In addition to the "I might get it for $1" factor, I view it as kind of a marking one's territory, if you will. Saying to the seller (as well as any potential buyers) that this one will sell, period.
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Valued Member
United States
376 Posts |
There are some who bid just to bid and have no intention of buying the coin unless it goes extremely low, basically trying to buy it for a song.
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Pillar of the Community
United States
539 Posts |
I tend to not snipe and just bid my biggest amount right off. so I would be one of those people to bid very high to start. I don't have a lot of time to watch the auctions so I set myself a dollar amount and bid it.
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Rest in Peace
 United States
5375 Posts |
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2) Once a bid is placed, it limits what can be changed by the seller - i.e., it "locks in" the terms of the auction I actually don't really like this, especially within the first 10 minutes, because sometimes I make a dumb mistake and want to change it. And then if its enough of a mistake, I have to pull the auction. |
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Pillar of the Community
United States
759 Posts |
Guilty as charged and I think I've even done it on a couple of yours, SC, although never even close to the initial posting. I simply prefer keeping track of all items I'm interested in in the Bidding section, so it's not exactly random. They are always coins I am genuinely interested in, but if something better comes along, or my budget goes elsewhere or the price goes too high for me, there's no guarantee I'll bid again. Now I bet if I see flood_of_coins or your other ID, I probably won't do it!
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Rest in Peace
United States
5375 Posts |
Yeah, I really don't mind it in general as it gets auctions more attention, I've just had instances where I list something and IMMEDIATELY it has a bid...then 5 minutes later I see that I made some mistake. I blame ebay for this really...you should be able to edit early on instead of just adding...90% of buyers will miss that. |
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Valued Member
United States
62 Posts |
I make minimum bids all the time to get it on my bidding list. That way it's only one link to click on my Droid. I'm not going to bid my max with 3 days left. That would be far more silly than bidding 1.00 and seeing how things go.
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Pillar of the Community
United States
2759 Posts |
I have my coins on my watch list that I am interested in tracking the final price of, and then coins that I bid one dollar on that I am potentially interested in buying.
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Pillar of the Community
Canada
902 Posts |
You would be surprised what a $1 bid can get you. A case of being at the right place at the right time.
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Valued Member
United States
244 Posts |
To answer the original question "why not?"
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Valued Member
United States
187 Posts |
i bid on lots of things early and low,partly to see if I might get lucky,and mostly so it will be listed in my bidding on items so it's easier to follow
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Posted 05/19/2011 08:42 am
