In order to participate in the GunBroker Member forums, you must be logged in with your GunBroker.com account. Click the sign-in button at the top right of the forums page to get connected.

Bidding

denniswdennisw Member Posts: 104 ✭✭
edited January 2002 in Ask the Experts
How is it possible to be beat out bidding by one penney ? I was this afternoon and I'm asking so maybe it will not happen again.dew
· Share on FacebookShare on Twitter

Comments

  • niklasalniklasal Member Posts: 776 ✭✭✭✭
    edited November -1
    Outbidding someone by one penny is a technique you need to learn to get good prices and win your bids. In a nutshell, here is how it works:Let's say you are bidding on a hi-cap mag. The opening bid starts at $20. You decide you want to pay a MAXIMUM of $30, so when you place your first bid of $30, the computer opens up bidding at $20, and sets the bid increment of... oh let's say 50c. So now, JoeBlow wants to bid on the mag. He bids the minumum of $20.50. Since your maximum is still higher, the autobid system kicks in for you and now the price is $21.00, keeping you as the winning bidder, and if anyone else wants to bid they must bid $21.50 Now here's the tricky part. Since he was outbid immediately when he placed the bid (you know the screen: We're sorry, you're not the high bidder)JoeBlow knows you set a maximum bid. He takes a guess at what you bid... He guesses $30. He raises his next bid by one penny, and now his maximum bid of $30.01 is higher than your max of $30.00, and you lost the auction by one penny. If JoeBlow was a pro, he probably waited till the last few minutes so you won't have time to get notified that you've been outbid and try bidding again.It's really just a matter of hit or miss for the opposing bidder. In the future, I'd keep my max really low. That way, you can use your newfound knowledge to work to your advantage. Good luck in the future, and if you see the high bidder, "niklasal" please don't outbid me, okay grasshopper?
    NIKLASAL@hotmail.com
    · Share on FacebookShare on Twitter
  • kimberkidkimberkid Member Posts: 8,858 ✭✭✭
    edited November -1
    As a buyer, I love sniping on *bay, I enter my max bid in the last seconds of the auction, most times competing bidders only bid the minimum ... big mistake! For some reason I get an immature rush seeing my bid was placed 3-5 seconds before the auction end, then look at bid history and see that there were several other bidders/snipers that just bumped the minimum ... *bay true story, PSG-1 handguard, $150 item WHEN you can find them (and not unusual to see go at auction for $250-$350), up until closing seconds of auction bid was $40 and 3 bidders, I wanted it badly and was willing to pay, entered my bid of $500, pushed enter with 10 seconds remaining in auction, auction ended seconds later, I won for $72 by beating out 11 other snipers. Immature? Perhaps ... Bought at cheapest possible price? DefinatelyWhen selling, I like GunBroker!
    GUN CONTROL: If you're not outraged, you're not paying attention!kimberkid@gunbroker.zzn.com
    If you really desire something, you'll find a way ?
    ? otherwise, you'll find an excuse.
    · Share on FacebookShare on Twitter
  • He DogHe Dog Member Posts: 51,593 ✭✭✭✭
    edited November -1
    But Kimber, if I had really wanted it and really did not know the market and prices and I had bid $450 just to be sure I won...
    · Share on FacebookShare on Twitter
  • niklasalniklasal Member Posts: 776 ✭✭✭✭
    edited November -1
    Saxon, you can have whatever opinion you want and call it what ever you want, fact of the matter is that users of these methods will pay less for an auction than you. My feelings are not hurt, and I will not lose any sleep if you find me irritating.Waiting until the last few minutes of the auction can be beneficial. If you discover that you've been outbid by one penny I think most people would be willing to cough up an extra 2 quarters to win. Besides, I know that when I make a maximum bid, my max is based on what I CONSIDER A GOOD DEAL. Beyond that would still be a great price, but maybe not a steal. Still, you are right though... you can't do that with GB because they extend the auction. I forgot, thanks for reminding me.
    · Share on FacebookShare on Twitter
  • niklasalniklasal Member Posts: 776 ✭✭✭✭
    edited November -1
    C'mon dano! It's part of the fun!But still, point well taken. Good luck on your future bids.
    · Share on FacebookShare on Twitter
  • denniswdennisw Member Posts: 104 ✭✭
    edited November -1
    Thanks for the input, I learned something.
    · Share on FacebookShare on Twitter
  • kimberkidkimberkid Member Posts: 8,858 ✭✭✭
    edited November -1
    He DogIt wouldn't have mattered, I was willing to pay the $500, but why have the bid run up on you by bidding early if not necessary? (espically when you suspect other snipers are lurking about)
    GUN CONTROL: If you're not outraged, you're not paying attention!kimberkid@gunbroker.zzn.com
    If you really desire something, you'll find a way ?
    ? otherwise, you'll find an excuse.
    · Share on FacebookShare on Twitter
  • YankeeClipperYankeeClipper Member Posts: 669 ✭✭✭✭
    edited November -1
    I'm glad it's not just me that seems to see a lot of games played on the auction sights. here's one for you to play. When you see the same item come up auction after auction. Mark the time and date and go in and bid the min. just before it closes and watch the action.
    · Share on FacebookShare on Twitter
  • ibtruknibtrukn Member Posts: 443 ✭✭✭
    edited November -1
    Got sniped at the last minit, not on this site. Wanted one so emailed the seller an offered same price as winning bid. One guess, seller had more an was happy to sell me one. Outcome: 3 people satisfied!!
    · Share on FacebookShare on Twitter
Sign In or Register to comment.