| The Problem... | | | | the item sells for the higher the "final value". This |
| It's happened to the best of us. | | | | makes eBay very happy. That's why you'll never find |
| You've been watching the auction all week, and finally | | | | any tutorials anywhere on eBay telling you to wait until |
| you're about to claim your prize--a rare bronze statue | | | | the end of an auction to bid. |
| from the Qing Dynasty. | | | | The Solution... |
| Or something just as tantalizing. | | | | OK, so now that we understand the benefits of |
| You log on a few minutes before the auction closes, | | | | sniping, lets get back to our friend "SpeedyFingers123". |
| and confirm that you're still the top bidder -- no one | | | | Speedy probably started out in life just like I did. She |
| has challenged you in several days. You're already | | | | learned everything she knew about eBay from eBay |
| picturing "your" statue prominently displayed on the | | | | and never realized there was such a thing as bidding |
| living room mantelpiece, your friends green with envy | | | | software. Never knew a computer could do your |
| as you tell them about the great deal you got on eBay. | | | | sniping automatically, bid on your behalf in the last 2 to |
| You refresh the page a few times, to make sure | | | | 8 seconds of an auction, and do it while you're asleep. |
| you're still number 1. You even up your bid a little just to | | | | With sniping software, you tell the software program |
| make sure no body tries to outbid you at the last | | | | which auctions you're interested in and how much |
| minute. | | | | you're willing to pay. eBay never knows you've seen |
| 50 seconds to go...30...10...the auction has ended and the | | | | the auction until your friendly sniping service swoops in |
| statue is yours!! You refresh the page for the last time | | | | and places your bid with only seconds to spare. |
| so you can see your eBay ID announced as the | | | | Neither does your competition. They never see you |
| winning bidder. And that's when your heart drops to | | | | coming. The only way you can lose is if someone else |
| your toes. It's not your eBay ID at all, but some joker | | | | uses the same program sets their maximum bid higher |
| who calls themselves "SpeedyFingers123". | | | | than yours. |
| How could this have happened? | | | | (Yes, my friend, you can still lose. There's no guarantee |
| You were the winning bidder with only 10 seconds to | | | | of winning an auction no matter what system you use, |
| go!! Speedy or not, it just doesn't seem humanly | | | | if someone else is willing to pay more. If you set your |
| possible. | | | | maximum bid at a million dollars for a hunk of Elvis' |
| Well, you're right. No one is that fast. SpeedyFingers123 | | | | belly button lint and some nut is willing to pay a million |
| (I made that one up, so if it's your actual eBay ID, | | | | ten, you're still going to lose!) |
| please don't sue me!) won the auction in the final 4 | | | | "Bidding Fever" Cured |
| seconds. It isn't humanly possible because "speedy" | | | | Let's face it, there IS a positive side to losing an |
| didn't actually place the bid. The bid was place on his | | | | auction. It's the satisfaction of knowing that you didn't |
| or her behalf, from a remote server, using something | | | | lose your head and spend more than you could afford!! |
| called Bidding Software. | | | | Trust me, I've been there, done that, and come to |
| You've Been Sniped! | | | | regret it. With sniping programs, you can "set it and |
| The act of placing a bid during the final seconds of an | | | | forget it" and walk away knowing that if you don't win, |
| online auction is called "Sniping" and it's perfectly legal | | | | you couldn't have afforded it anyway. |
| on eBay. Bidding wars and sniping are an eBay sellers | | | | What's that I hear you saying? "But I could have had it |
| dream and a buyer's nightmare. Why, you're asking | | | | if I'd just upped my bid by another fifty cents!" Hey, did |
| yourself, don't these people just use eBay's trusty | | | | you listen to anything I just said? Do you want to drive |
| proxy bidding process? Why not just discreetly enter | | | | yourself nuts? It's only stuff, after all. You can't take it |
| the maximum they're willing to pay at the beginning of | | | | with you, and there will always be more. The beauty |
| the auction, then let the cards fall where they may? | | | | of eBay is that there will probably be another just like it, |
| Well, for a couple of reasons. First, it's not human | | | | or at least something just as fabulous. |
| nature. If all you have to do is outbid the next guy by | | | | You're in Control |
| fifty cents or even five dollars to win, wouldn't you? | | | | There's another big advantage to using bidding |
| Second, it doesn't make economic or strategic sense | | | | software. Two things, actually. |
| to place a bid anytime before the last five minutes of | | | | First, sniping programs allow you to do something |
| an auction. | | | | called "contingency bidding". Suppose you're interested |
| Think about it. eBay encourages bidders to use the | | | | in several very similar items and you want to win at |
| proxy system and place bids early. What this means is | | | | least one of them but not all. Provided they're not all |
| that an inexperienced bidder who wants an item will | | | | ending at the same time, you can create a |
| want to be the highest bidder right away, and will keep | | | | contingency plan telling the bidding software to cancel |
| upping their bid to hold that winning position. They'll only | | | | your bids on the other items as soon as you win one |
| stop when the bidding exceeds their budget. Then the | | | | of them. |
| next guy comes along and continues the process. If | | | | Second, you can change your mind about an item |
| this starts at the beginning of a seven or ten day | | | | you're bidding on at any time (except in approximately |
| auction, and ends with a bidding war in the last 10 | | | | the last 15 minutes). |
| minutes, the final price for the item can spiral out of | | | | On eBay, it's a huge "no-no" to retract a bid. You can |
| control. Many items sell for far more than fair market | | | | only do this under the most dire of circumstances. Do it |
| value because people get caught up in "bidding fever" | | | | too many times you'll be politely asked to leave. |
| -- all they want is to WIN, they're not even thinking | | | | Permanently. But, because eBay doesn't register your |
| about whether the price is realistic. | | | | bid until the Sniping program enters it for you, (at the |
| What to Do? | | | | very end of the auction) you can cancel your "snipe" |
| A better strategy would be for everyone to "watch" | | | | with no penalty. You're canceling what you've |
| the auction until the very end. Again, there's two good | | | | programmed into the sniping software, not an actual |
| reasons. One, the price doesn't spiral up as just | | | | bid on eBay. |
| illustrated. Two, the auction has zero bids, so it attracts | | | | Isn't that nice? No more "watching" an auction you're |
| fewer bidders-- less competition. It's a fact that once | | | | unsure about, and then forgetting to bid on it. No more |
| an auction has at least 1 bid, it becomes a magnet for | | | | babysitting your computer so you can be there for the |
| additional bidders. Shoppers scanning an auction page | | | | final moments of the auction. No more finding out |
| tend to jump to the ones with bids, figuring there must | | | | you've read the description wrong and you're bidding |
| be something that attracted other bidders. The more | | | | on an item you don't want. Or finding something you |
| bids, the more interesting the item looks. | | | | like better after you've already committed yourself to |
| Wouldn't it be great if a seller started a two carat | | | | another item, and having to pass on it. (Or worse, |
| diamond ring at $0.99 and no one bid until the last five | | | | spending way too much on both!) And, finally, you have |
| minutes, and they all bid in fifty cent increments? | | | | the satisfaction of knowing that winning doesn't |
| Someone might win the ring for just a few bucks!! Of | | | | depend on the speed of your fingers or your internet |
| course, that never happens, but it would be the ideal | | | | connection. |
| situation for a buyer-- and it would put eBay out of | | | | Believe me, the first time you snatch an item away |
| business in a hurry. eBay encourages early bidding and | | | | from SpeedyFingers123-- or anyone else for that |
| smiles upon the snipers of the world. eBay makes their | | | | matter-- you'll be hooked. |
| profits on listing fees and "final value" fees. The more | | | | |