Ebay Stopping "snipe" Bidding

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Author	Replies: 6 / Views: 176
first4 Valued Member Australia 101 Posts	Posted Today 8H 8M ago * Moved by Staff to a more appropriate forum. * Ok so I been on ebay as a buyer of coins since 2012. It started off with ancient coins, I was getting good value from a wholesaler in the UK. I accumulated a large collection. Then in 2018 the Australian government introduced 10% GST sales tax on purchases under $1000Aud. These coins I purchased were on auction. I would wake up at odd hours to bid. After the government introduced the 10% GST I stopped buying from overseas. I started coin roll hunting from banks. I would bid on coin lots in Australia past few years as there is no 10% GST on purchases within Australia. Now ebay have introduced an "extension of time" of 60sec to stop bidders "sniping" at the last few seconds of auction. I admit that I won my auctions by sniping, now I cant see the point in bidding as the new system encourages bidding wars and ebay enabling higher bids after close of auction. Therefore buyers getting less value and paying more. Sure some auction houses use extension of time at close of auction. Has it changed you're buying/ bidding behaviour? Report this Post to the Staff

HondoB Bedrock of the Community United States 27176 Posts	Posted Today 6H 27M ago As a seller, I love it. As a buyer, I hate it. Inordinately fascinated by bits of metal with strange markings and figures Report this Post to the Staff
nss-52 Moderator United States 54295 Posts	Posted Today 6H 9M ago 60 seconds isn't much of an extension, and anyone trying to beat a "snipe" bid will have to be at their computer at the exact time the listing was supposed to close. We will have to see, but I don't think it is going to result in significantly higher ending amounts. Show your financial support of the Coin Community Family (click here) See my topic on Mexican Numismatic Medals (click here) Report this Post to the Staff
Brandmeister Pillar of the Community United States 6861 Posts	Posted Today 5H 22M ago I think the current system is almost like a sealed bid system. If a coin is contested, everyone waits until the last few seconds and then submits their max bids. Then the system sorts out who won. That isn't really like an auction. In fact, it encourages people to do nothing for the first 6d 23h 59m 50s of an auction. This change will force a more auction-like activity into the end of an auction, so that buyers can compete with each other. For desired coins, it will probably result in higher prices. That will help the seller to get the highest possible price for a coin. As a Cherrypicker, this change will make my task harder. It probably doesn't change situations where I am the only bidder, because 60 seconds would require competitors to be online and looking at that exact moment. I do think there is a hazard of sellers using strawman bidding accounts via automated software to try to pump bidders for more money. Report this Post to the Staff
bobby131313 Forum Dad United States 24220 Posts	Posted Today 5H 9M ago Remember Yahoo Auctions? They tried auction extensions. People hated it so badly and left that Yahoo Auctions shut down a little over a year later. Shop CCF Members on eBay. Report this Post to the Staff
westernsky Pillar of the Community United States 7719 Posts	Posted Today 1H 7M ago ebay is not trying to stop snipers; ebay's ultimate goal is to drive up prices to increase their 'rake' on final value fees. Kicking up the final value fees with the usual "dear John Q Seller letter" wouldn't be too popular right now. Eventually, ebay will get that 13% FVF to 25%. That day is coming! Report this Post to the Staff
PlumCrazy814 Pillar of the Community United States 937 Posts	Posted Today 45M ago I overheard conversations at work years ago between some people who were listing things to sell. One asked the other to bid on an item because the price was going too low, and the auction was ending. Implementing this policy will just encourage more of that behavior and will degrade trust in the system, in my opinion. It sort of reminds me of beezid bidding. Report this Post to the Staff
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