Best strategy - eBay auction

[All uphill]

I'm a regular buyer on eBay, nearly always using the site to buy low value items without an auction.

Today a potentially higher value (cycling) item has come up that I want. The auction has a week to run. No buy it now price and this item is unlikely to come up again.

What do you think is the best strategy?
Wait until the last moment to bid?
Bid the highest price I would pay and let things happen as fate determines?

I'd appreciate your thoughts.

 

[Mo1959]

I'm a regular buyer on eBay, nearly always using the site to buy low value items without an auction.

Today a potentially higher value (cycling) item has come up that I want. The auction has a week to run. No buy it now price and this item is unlikely to come up again.

What do you think is the best strategy?
Wait until the last moment to bid?
Bid the highest price I would pay and let things happen as fate determines?

I'd appreciate your thoughts.

I am inclined to wait until the last minute then bid the highest I am prepared to go to and hope for the best. Seems better than starting a bidding war if others are interested.

 

[Pat "5mph"]

I do like @Mo1959 does: I watch the item, will place a bid near the end of the auction.

 

[midlife]

There are a couple of programs that will bid for you at the very last second if you set the amount, never bothered myself though

 

[Dadam]

I usually “snipe“ it. Watch it but bid nothing until the dying seconds then bid. If it’s something I really want I’ll bid the absolute max I’m prepared to pay. If I’m trying to get it cheap I might just exceed the current bid by a few quid.
I usually do it 15 or 10 seconds before the end.

 

[wafter]

Historically I've left it until the last minute (5-10 seconds) to avoid giving others the incentive to outbid me.

More recently I've been more inclined to place a bid earlier as there seem to be a lot of auctions ending early; presumably a lot of the time because sellers take offers (legit or otherwise) when faced with no bids.

Tbh I facking hate ebay. I stopped selling on there a long time and now typically only buy small value, fixed price items; partially because buying anything larger has become "unreliable"..

 

[Spiderweb]

As above, bid the maximum amount you are prepared to pay but only in the last few seconds. I usually press ‘confirm bid’ in the last 5-7 seconds. Bidding days before the end of an auction only encourages early bids from others and raises the price.

 

[Cycleops]

The only trouble with "sniping" at the last second is that someone else might be doing the exact same thing so you might get a surprise.

 

[Dadam]

The only trouble with "sniping" at the last second is that someone else might be doing the exact same thing so you might get a surprise.

Yes can frequently happen. 15s usually gives enough time for a quick revised bid but if it goes mad in the dying seconds it can often end up as not really a bargain.

 

[Regular.Cyclist]

The only trouble with "sniping" at the last second is that someone else might be doing the exact same thing so you might get a surprise.

If that’s the case then it’s over what I want to pay.

I frequently snipe with the maximum I am prepared to pay. I often win for a reasonable sum under my maximum bid or lose out by a not inconsiderable amount.

If I recall correctly back in the day Yahoo auctions used to add three minutes to the clock if a bid was received in the last 30 second, or something like that.

I guess people panic bidding higher amounts because of a hard deadlines may make the auction company more in commission so others have never copied it.

 

[All uphill]

The only trouble with "sniping" at the last second is that someone else might be doing the exact same thing so you might get a surprise.

That's my worry. I get the logic of a last second bid, especially in a market (bicycles) that is cooling.

On the other hand I wondered if bidding high and early might put off anyone who is just bargain hunting.

I asked for your advice and will take it. My maximum bid will go in shortly before the end of the auction, and I will remember this is a "want" not a "need"

 

[wiggydiggy]

Bid about an hour before, set it to auto increase to your maximum and check back later. If it's something you really want I think no matter what time you bid, the actual maximum you are prepared to pay is more important than when you bid.

 

[Reynard]

I'll bid in the the last few seconds of an auction too.

BUT...

I will spend my time researching the item first and working out where the price should be at (looking at completed listings is good for this) and deciding how much my maximum bid will be.

If I've done my homework and I still lose out, either because someone else has sniped me, or if the bidding is already over what I'm prepared to pay, then so be it. But I will usually avoid getting drawn into a bunfight unless it's something that I know is uncommon and thus worth the top end of my budget.

 

[wafter]

Another delightful thing about ebay of late is that they prohibit any contact outside of the platform between buyer and seller; meaning that you're not even supposed to be able to view an item before bidding. Hardly great if you're looking for a used, high value item.

Basically they've ruined it by every conceivably metric

 

[Jameshow]

Tell us what it is and we can help you bid on it!🤔🤣🤔🤣

I just put in my maximum usually a few hours before and hope no one bids on it! I usually forget, unless I'm bored in an evening and buy something on a whim!🤣🤣🤣