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In Reply to: RE: UGH! Just missed out on a really nice pair of B&W 802 Matrix S3!!! posted by email@example.com on March 07, 2017 at 03:47:42
The reason is psychology. People are willing to pay much more in the final moments of an auction to keep from losing something. If you put in a big proxy bid early, other interested parties have a lot of time to think about whether they'll bump it up a few more times to try to outbid you. If your high bid appears at the last moment, they may want to get in another bid, but either won't see that they're losing or won't have time to respond. So, sniping gives the previous top bidder a false sense of security.
For quite a few items I quite wanted, but COULD find elsewhere, I have simply entered the highest amount I'd be willing to pay.
Almost every darn time? Right towards the end, there are a flurry of bids that drive the price up to & just beyond what I bid, even though the item could be bought at slightly less money elsewhere.
That's what's funny, when a quick online search turns up a lower price. I once made a little money that way. I looked on ebay for a service manual for a particular HP laser printer and discovered that people were paying $70-80 for it. I found it online for $20 so I bought 10 and promptly sold them all.
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