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 Replies: 20 / Views: 4,043 |
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Rest in Peace
United States
5375 Posts |
on something that is going to go most likely for $100 plus at the beginning of the auction? Doesn't make much sense.
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Moderator
 United States
6563 Posts |
If you throw enough darts you might actually hit a bullseye sometime.
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Valued Member
Poland
114 Posts |
It is also a way of observing the auction much more funny that hitting the observe button.
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Moderator
 Australia
16868 Posts |
There's a guy at my coin club that's been doing that for years. Goes through all the 99 cent auctions and makes minimum bids. Gets outbid 99% of the time, but the other 1% are nice coins bought for only $1.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
Australia
1244 Posts |
You got to be in it to win it
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Rest in Peace
 United States
5375 Posts |
Quote:
It is also a way of observing the auction much more funny that hitting the observe button. I imagine this is it, also because the watch list has a limit. Then again, you draw more attention by not sniping. I do the same thing as that guy Sap, but not with $1.00 because that's just impossible for anything $15-20+. Well, not impossible technically, but just so unlikely its not worth the time for me. There are more consistent ways to get good deals IMO. I might snipe bid $80 on a $175 coin and lose 90% of the time, but because some come with bad pics, I do win those sometimes. 10% sounds low but it really adds up over time; entering bids into Gixen isn't that hard and I comb ebay pretty fast. I've done especially well with big lots of coins that are not usually sold in lots (seated quarters, etc) and those which are peppered with semi key/scarce dates. Edited by coinguybrian
05/19/2011 06:24 am
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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 |
Quote:
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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Replies: 20 / Views: 4,043 |
Posted 05/19/2011 03:22 am
