I don't understand this bidding strategy...

JonL

JonL

Lunatic Member
I often see early, low bids by experienced (high feedback) eBayers on items that will surely sell for far more than these low-ball bids. Why do these bidders bother?

Case in point... I've got an item listed now, 7 day auction, will likely sell for over $300. On the first day I've gotten bids from people with over 700 feedbacks bidding like $40 and $50. They've already been outbid, which they had to know would happen. I don't mind the action, it just doesn't make sense to me.

Any thoughts?
 
Register to hide this ad
Make sense to me.
I do that all the time.
It helps me track what I'm interested in and also get alerts when the bidding is about to end. I can revisit and decide if I want to bid again.
You may be thinking I can use 'watch list' for that but watch list is for wish items not bid items.
Also, bidding low sometimes scores. :)
 
JonL said:
I often see early, low bids by experienced (high feedback) eBayers on items that will surely sell for far more than these low-ball bids. Why do these bidders bother?

Case in point... I've got an item listed now, 7 day auction, will likely sell for over $300. On the first day I've gotten bids from people with over 700 feedbacks bidding like $40 and $50. They've already been outbid, which they had to know would happen. I don't mind the action, it just doesn't make sense to me.

Any thoughts?
Click to expand...

It's a place-holder. Sometimes it's a way to stay on top of what an item actually goes for, with the hope that the low-ball bid might just win it in some cases. If I just have an item on a watch-list, I might forget.

Also, it's a way to pin down the seller to some extent. I've seen auctions ended early with no bids, presumably because it was sold or perhaps the seller became discouraged with no bids and ended the auction. If you've got a bid in, they're (the thought is) less likely to end the auction.

Also, just because I might bid more on some items, that doesn't mean I wan to pay what an item is worth. I'll throw out a lowball bid on an item I suspect will go for more; if I lose, I have lost nothing. If I win, scroe.

You just never know. I've gotten things for less than I think they'll ultimately sell for, either someone was asleep at the switch, or they know something I don't about the value or condition of the item.

In the end, I bid what I want to pay. Just because item A is worth $100 doesn't mean I'm going to bid that. I might bid $10, even though I suspect it will go for more. Too bad, so sad, I'm not interested in paying full price. If I get outbid, on to the next auction. Sometimes even a blind pig gets an acorn.
 
- puts it on your watch list without burning a watch spot.
- bottom feeding. they may win occasionally.


edit: I see I have summed up!
 
Agree with most of above. It gives you an e-mail everyday of what's going on. I do it myself.
 
They didn't know that it would go higher than their bid.

I auctioned a pair of Radio Shack supertweeters after more than a year of keeping an eye on the going rates. I hadn't seen a pair go for less than $55 and had seen many go for over $100 including one pair that went for $178.

Mine sold for $20. I knew I'd get more....... but I didn't. I've never again seen them sell so low.

Alternatively, maybe they are involved in a mild form of shill bidding. An early bid often attracts other bids, and the earlier the bidding starts, the higher it is likely to go. Sometimes I will make a low bid on something just to get the ball rolling for a seller that seems as if they'd be cool if I knew them. I don't bid more than I'd be willing to pay if I won, but it isn't an item I really want.
 
stereofanboy said:
They didn't know that it would go higher than their bid.

I auctioned a pair of Radio Shack supertweeters after more than a year of keeping an eye on the going rates. I hadn't seen a pair go for less than $55 and had seen many go for over $100 including one pair that went for $178.

Mine sold for $20. I knew I'd get more....... but I didn't. I've never again seen them sell so low.
Click to expand...

I would have paid you $25. :D

I agree with the others. Placeholder/reminder/wishful thinking...
 
Many times my watch is full so I will bid just a dollar more to keep it where I can see it.
 
DCinDC said:
- puts it on your watch list without burning a watch spot.
- bottom feeding. they may win occasionally.


edit: I see I have summed up!
Click to expand...

Yes, this seems to sum up the other posts and explains it. I didn't realize the watch list was limited in spots, so this makes perfect sense.
 
Wigwam Jones said:
Sometimes even a blind pig gets an acorn.
Click to expand...

...but a nod is as good as a wink to a blind horse.

Sorry, couldn't resist.

Seriously, I've often wondered the same thing. The responses here have given me some insight. Early bidding isn't something I ever do, but I now understand why some do.
 
Almost all the items I've won were done this way. Nothing I need or drool over to have just low enough not to pass on and maybe even can win. If not, there is another later to try. If it is something special such as in excellent condition or needed (or really desired and rarely comes up) then I just bid what it is worth and maybe a might more to make sure I win but that has happened maybe 4-5 times. Admittedly, I've bought less than maybe 2 dozen items off eBay over all the years it has been around.
 
I usually do the wait and see approach. I just bookmark an item and keep an eye on it. Did this the other day with a Technics amp that was listed as "Parts or Not Working" just because it had a bad power switch. There is an electronics store here that stocks the original switch so it is an easy fix. One other person bid on it (twice) so I just waited till twenty seconds to go and put in what I was willing to pay. I won it. I don't generally bid early.
 
Other reasons:

To let the seller know there is some interest and not pull the listing unexpectedly.

Also good way to maybe draw out some lurkers to see what the competition and interest may be.

Mess with people's minds.

If I am only interested half-heartedly, to nibble it up so I don't regret not bidding on it, or so somebody else doesn't get it too cheap.

Lots of gamesmanship. It's as much a sport as anything else.
 
I also think if you bid early, and end up tying the winning bid, it's yours because you bid first.
 
All thats been said plus if a similar item is up at the same time the bids can often be split with the second one going cheap (or high).
 
yep , all of the above. I have a good friend who does this all the time, he has scored a lot of great stuff for next to nothing. never done this myself but it does work.
 
You must log in or register to reply here.
Back
Top Bottom