Sorry Dan, but you miss my point.
Suppose you want an item that is currently bid up to $50.
In scenario A) you bid your max, which is $75 two days before the auction ends, but your item sits at $51.
Then, two days before, someone else decides they want it. They see your $50 and bid $55. It is not enough. They try $60. Not enough. They try $71. Not enough. They try $75. Not enough because the earlier bid wins in a tie. You win the item, but you are paying your maximum price.
In scenario B), you wait until the last few seconds and the above person bids it up to $60, but not seeing any other bidders around, they don't secure a higher bid. They take a chance that none of "snipers are out there. No one bids against them. They sit back, happy they are going to win.
Then, in the last few seconds, you bid your same $75. Bingo, you have the item for $61, which puts $14 more in your pocket. If you'd bid that $75 five minutes earlier, the other person would have had time to bid you up, and would have, perhaps not to $75 or perhaps higher.
Now, the worst that can happen here is that the person in scenario B) did bid higher, and you pay the whole amount anyway.
But trust me, I know from hundreds of buys that you can keep money in your own pocket by waiting until the last few seconds.
And, other than the rightly suggested reason that you might forget, there is *no* practical reason to bid sooner. It will not save you a dime, and will more than likely cost you money that you could have spent on beer and pretzels instead.
[EMAIL PROTECTED] wrote:
your want. If it is a semi-popular item you will likely pay too much for it.
You've misunderstood the point of proxy bidding. Bid only the maximum amount the item is worth to you. Period. Not higher. That way you'll NEVER pay too much no matter what type of bidding war occurs.
- Dan.
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