"Token" bidding
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Post Posted: Fri Dec 03, 2004 6:14 am 
 

Something I have been curious about for awhile is the use of what I refer to as "token" bidding.  That is, placing a ridiculously low bid on an item that has absolutely no chance of winning -- I see it done all the time (and by many members of the forums) . . .  and I just am wondering why?

Is it a token of your interest in the item even though there is no chance the bid will win?  Now I am not referring to longshot, never-to-be-believed awesome deals on an item.  I am referring to "no chance in hell the item will ever go for that little".  Like $10 for a Tsojconth or $40 for a woodgrain. . .  (even after the item has been posted as "interesting" on the forums and been viewed by 100+ people).  Even "semi-high" bids are questionable -- such as $200 for a high grade mono-C2 (or whatever).  

I realize that a low bid might initially be placed to cancel a BIN or to discourage a seller from accepting someone's offer to buy outside of eBay, but what about afterwards?  I guess that it at least keeps bumping up the bid to respectable levels.

It's no big deal and doesn't hurt anything. . . but if you are going to bid $958 in the end, why bother with the $100, $203 & $243.32 bid in the first place?  And if you are not seriously in it, why bid $37.00 at all?


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Post Posted: Fri Dec 03, 2004 8:10 am 
 

I tend to place the lowest bid possible on ALL of the auctions that I bid on at first. Why bid my max when there is a chance that the max is not needed?

Also, I sometimes will place a low bid on something when in a hurry and when I already have gazillions of "Watched items" already... as a fast and easy way to keep track of the auction for later consideration. Later in the auction I may or may not continue to bid competitively.

I do not do this just to get a low bid on an auction; I have the above reasons in mind when doing so.

One thing I never do is place the highest bid I am willing to go on the FIRST go round.... there is always the possibility that many of the collectors here will be sleeping during that next Fazzle auction, in which case, I may just get that Fazzle for 25 dollars, or even for 250......

___________BTW: I wonder if any of you have had the following situation crop up and if so, why, or how???__________

I have no idea if this is even possible for a seller to arrange a situation like this, or if I am somehow imagining things, but I have the strangest feeling that if I bid high on some items in some auctions that my highest entered bid amount automatically becomes the new current bid amount.

In other words, when the opening bid of some auction is one penny and I know the item is worth a couple of hundred dollars. So, I place my highest offer (Say $179.93) and that exact amount becomes the new current bid. To the exact penny!  And yes, I have seen this happen on MANY occasions. At the very least it is totally freaky, but is it possible for a seller to arrange an auction so that any given bidders highest bid amount is automatically generated to be the new current highest bid amount?

  


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Post Posted: Fri Dec 03, 2004 9:36 am 
 

beyondthebreach wrote:Something I have been curious about for awhile is the use of what I refer to as "token" bidding.  That is, placing a ridiculously low bid on an item that has absolutely no chance of winning -- I see it done all the time (and by many members of the forums) . . .  and I just am wondering why?

I do this a lot.  Below are a list of reasons, in no particular order:

    1. I'm already bidding on stuff, and I don't want to keep a separate watch list.
    2. Like you said, some "token" interest.
    3. I'm hoping that the rest of you will simultaneously develop amnesia and I'll get the auction super-cheap.
    4. I love watching the big auctions, but sometimes they don't start moving and get boring.  I bid to nudge it into action.
    5. You guys are insane, that was my high bid!

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Post Posted: Fri Dec 03, 2004 10:40 am 
 

I don't know if this is true or not, but my friend whose been on eBay for years told me to always get a bid in on an auction early, because in the case of a tie when the snips are coming in the first previous bidder would win any tie. He says it's in the system. I don't know? What's the chance of a tie anyway?

But on the other hand just bidding a buck on a Tsoj is kinda funny. Maybe no one will notice. 8O

Question, do any of you guys do price searches? In the evenings sometimes I'll search all items over say $25 -50 just to see if there's something I missed getting a lot of action near the close. You only end up with about 3-4 pages of items. It's easy to scan over.


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Post Posted: Fri Dec 03, 2004 11:03 am 
 

Aneoth wrote:I have no idea if this is even possible for a seller to arrange a situation like this, or if I am somehow imagining things, but I have the strangest feeling that if I bid high on some items in some auctions that my highest entered bid amount automatically becomes the new current bid amount.

In other words, when the opening bid of some auction is one penny and I know the item is worth a couple of hundred dollars. So, I place my highest offer (Say $179.93) and that exact amount becomes the new current bid. To the exact penny!  And yes, I have seen this happen on MANY occasions. At the very least it is totally freaky, but is it possible for a seller to arrange an auction so that any given bidders highest bid amount is automatically generated to be the new current highest bid amount?


Funny you say this because in the last few auctions I had exactly the same happening to me as well. I was watching the auction until a few hours before it ends, then I enter a bid amount into my snipe tool and go to bed cause staying up until 04:00 in the morning isnt really an option for me :) Then when I go back to the auction the next morning I have had what you described above on several occasions in the last few months.  It's like someone exactly knew my max bidding amount and got up that far. But thats somehow impossible because the sniping software bids just a few secs before the auction ends.....So, no clue what went on there  :?

  

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Post Posted: Fri Dec 03, 2004 11:07 am 
 

I do it to track items as well.  I watch items I am mildly interested in and low bid ones I intend to snipe later.  I use snping to try and win any auction now, seems I win more that way.


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Post Posted: Fri Dec 03, 2004 11:36 am 
 

In my opinion 9 out of 10 times it's the only way to win. In my experience every time I've put in a proxy even a little above Acaeum price guide value it never stands. Sniping is the nature of this game, what are you going to do…….


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Post Posted: Fri Dec 03, 2004 11:52 am 
 

It leads to alot of sleepless nights.  But it is fun getting that item in the mail you need to fill a hole or have been dying to read. :cry:


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Post Posted: Fri Dec 03, 2004 11:56 am 
 

I put in a low bid a lot just to piss ppl off :D

then if I really want the item i snipe it, but sometimes my low bid stands......

some of the best items I have I got for under $20 :P

  


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Post Posted: Fri Dec 03, 2004 7:08 pm 
 

Jupp wrote:
Aneoth wrote:I have no idea if this is even possible for a seller to arrange a situation like this, or if I am somehow imagining things, but I have the strangest feeling that if I bid high on some items in some auctions that my highest entered bid amount automatically becomes the new current bid amount.

In other words, when the opening bid of some auction is one penny and I know the item is worth a couple of hundred dollars. So, I place my highest offer (Say $179.93) and that exact amount becomes the new current bid. To the exact penny!  And yes, I have seen this happen on MANY occasions. At the very least it is totally freaky, but is it possible for a seller to arrange an auction so that any given bidders highest bid amount is automatically generated to be the new current highest bid amount?


I have seen this before but they were all on auctions with reserves.  Maybe Ebay is messed up and no matter what the reserve price is, if your max bid is above that price it becomes the current bid?

  

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Post Posted: Fri Dec 03, 2004 7:23 pm 
 

subroc wrote:I have seen this before but they were all on auctions with reserves.  Maybe Ebay is messed up and no matter what the reserve price is, if your max bid is above that price it becomes the current bid?


Yes, I have thought of that as well.

  

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Post Posted: Fri Dec 03, 2004 7:48 pm 
 

There is a logical explanation - trust me there is no "flaw" in ebay's system

Let's take an example:

A seller sets up an auction with a $200.00 reserve and a $1.00 opening bid.

The first bidder places a bid maximum of $175.00.  Since this amount does not equal the reserve, ebay makes it the minimum bid amount of $1.00 (thus encouraging others to bid).  His max bid of $175.00 still stands.

The second bidder (you) comes and places a bid for 176.83.  This bid goes against the max bid of the previous user - since their max bid is $175.00 your bid beats them out.  However, since the bid increment is $2.50 and you beat them by less than $2.50, eBay takes your max bid of $176.83.

Some bidding situations may seem odd, but I have never seen or heard of an example that didn't have a some explanation.


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Post Posted: Fri Dec 03, 2004 10:15 pm 
 

beyondthebreach wrote:There is a logical explanation - trust me there is no "flaw" in ebay's system

Let's take an example:

A seller sets up an auction with a $200.00 reserve and a $1.00 opening bid.

The first bidder places a bid maximum of $175.00.  Since this amount does not equal the reserve, ebay makes it the minimum bid amount of $1.00 (thus encouraging others to bid).  His max bid of $175.00 still stands.

The second bidder (you) comes and places a bid for 176.83.  This bid goes against the max bid of the previous user - since their max bid is $175.00 your bid beats them out.  However, since the bid increment is $2.50 and you beat them by less than $2.50, eBay takes your max bid of $176.83.

Some bidding situations may seem odd, but I have never seen or heard of an example that didn't have a some explanation.


Thanks for the explanation. I knew that someone here would have a plausible explanation...... :D

  


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Post Posted: Fri Dec 03, 2004 10:18 pm 
 

Dont forget the watch list has a limit, after that the only other option is to place minimum bids on the rest of the stuff youre interested in.


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Post Posted: Fri Dec 03, 2004 10:20 pm 
 

That is true, but the limit is 100 items!  Is anyone here watching that many auctions?  :?:


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Post Posted: Fri Dec 03, 2004 10:32 pm 
 

:oops: *Timidly raises hand*    :oops:

  


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Post Posted: Fri Dec 03, 2004 10:36 pm 
 

ya sometimes I max 100 ....

  

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Post Posted: Fri Dec 03, 2004 10:51 pm 
 

draco76 wrote:ya sometimes I max 100 ....


Is that 100 B2s  8O

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Post Posted: Sat Dec 04, 2004 12:24 am 
 

lol I probably have 100 B2's by now :P  seems like I get at least 3 a week in with other stuff.... Do B2's grow on tree's? lol

  

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Post Posted: Sat Dec 04, 2004 1:45 am 
 

draco76 wrote:lol I probably have 100 B2's by now :P  seems like I get at least 3 a week in with other stuff.... Do B2's grow on tree's? lol
 

I am sure when I was driving thru Seattle once I saw a tree which was growing B2s  :lol:

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