I've been buying up parts for my forthcoming restoration, and have often wondered how others do the E hay thing. Do you bid early and often (kind of like voting here in Illinois) or do you wait it out and toss in a bid in the final minute?
I buy stuff off e-ay alot and I'll tell you the secret... bid at the last minute, the highest you'll pay. It's the people that bid early that drive the price of an item SKY-HIGH. For example, we were watching an auction for a 93 Lincoln Mark VIII, 112K miles, and the bidding began at 1800. Some inexperienced bidders bid early and drove the price up. If they had waited, the auction would've ended alot cheaper... by the way, the auction ended at $2950.... nice car, too.
My advice is this: if you're interested in an item, put it on your watch list, then when the auction is getting close to end, you will receive a notification that it's about to end and will prompt you to bid if you want.
PS - I've never been screwed on e-ay, and I've been both buyer and seller.
I'll bid what I think a) it's worth and b) I can afford taking the shiping/handling into account.
If I lose it at the last minute then that happens. I don't like snipers much because they really push up the price at the last minute.
Example, I managed to find a pair of bumper guards for my wife's 64 1/2. (it's missing all four, but two is a start) and so I bid what I felt they were worth considering the condition (both from photos and the description)... the auction sat at $1.50 until the last two minutes when someone else bid first $10, then $11. I still won but it was annoying.
I usually try to wait until the last minute, and then I'll just enter my maximum price I'd pay. I do it for two reason, One: Cheapest price as stated before, and two, I'll only pay so much. So I'll enter my highest bid that I'll pay, and I let the others fight to try to match my bid and eat up their time. If they pay more then me, then they want it more then I do.
The Ehay thing is different than a regular auction in that there is a time limit. Regular auctions are based on price. The way to win ehay auctions is to bid as close as possible to the time limit. It doesn't allow people to rebid or out bid you.
Personnally I always "snipe" and just put in my max as others have stated. You win some and lose some this way but if someone is willing to pay more...so be it.
I don't understand bidders who put in a bid early and continue to get ratched up by others. Are they others or just a different user name of the seller?? My opinion is wait to bid until the end. You are really bidding against the clock. Any bids before the last seconds can be over bid and expose your strategy. Just bid your max with minimum time and let the chips fall.
I've found that sniping in the last seconds is the only way I can ever win anything that has any interest in it. However I always pick my max price from the beginning and if it goes over before the end I just drop it and keep looking. I make sure to always ask a question to the seller and if they never respond I don't bid either.
I usually will throw in the first bid or the minimum over bid just so I'm at least in the bid history and not only in the last seconds, makes me feel better I guess...
I snipe if the auction is going to end at some kind of time where I'll be up, or available. Otherwise, I'll bid up to my max and if I lose, so be itt.
One thing though. Some of these prices on rarer stuff (Shelby, Boss 302) gets bid up way out of proportion to their real value. Must be Doctors or Lawyers bidding.
Me, I've yet to find any $100's under my GT 350 after I back it out of the garage....
If an item goes for an inflated price, you can bet the supply will increase dramatically. You will see more of the items show up and the price usually drops.
Remember, Patience is a virtue and Good things come to those who wait.
Like someone else mentioned, check out the bid history of some of the bidders. You will find "they" only bid on one sellers items and their positive feedback is the same. Wonder who really won the auction. I like the seller that will email and offer you a second chance to buy at your max bid. Who were you really outbid by?? Me thinks me know!!!
I never bid until the last 20 seconds of an auctin . Bidding before hand always jacks the price up. Also, bid you max amount you will bid the first time. It makes the other people scramble with very few seconds left on the clock ::