eBay Strategy

McRabbet · 02-13-2006, 06:12 PM

I'm frustrated. For the past several days, I've been trying to buy a Stanley #59 Doweling Jig on eBay and I seem to get beat out at the last minute each time, even though I'm using the bidding engine they provide (I may be leading a bid and have $8-10 more in my maximum bid limit), but somebody gets in with final 10 seconds-to-go bid to out bid me.

Thanks to mshel, I know not to bid on the newer "pot metal" versions and I'm willing to spend up to $45. There is one that closes tonight around 7:30 PM and I placed a $39.99 bid and was immediately beat at $40.00 (and I thought there was a minimum of $1.00 higher bid requirement

). I'm going to rebid at $45 max, because that is as much as I'll spend for one of these jigs (needed to repair some antique chairs).

Any bidding strategies you may be able to share will be appreciated -- better yet, anyone got a Stanley #59 Doweling Jig they want to part with?

Rob

DaveO · 02-13-2006, 06:24 PM

I don't buy much off of E-bay, especially things that get bid upon. But many of my friends and wife

do a lot. They have told me the key is not to bid until the last few second. One of my friends sets his PDA to go off right before an auction he is interested in ends and then he places a bid. Also I think there is a system that can "watch" auctions that you are interested in and notify you when a new bid has been placed. My $.02,
Dave

Monty · 02-13-2006, 07:20 PM

Your strategy is pretty reasonable, actually. You have determined what you are willing to spend... I think many people lose sight of this in the closing moments of a lot of auctions. If your "max" is $40, but in the last few seconds you'd be willing to plunk down another $5 just to win the auction... well, that means your "max" really is $45, right?!?!?

So, you have two choices... one is to place a bid for $45 and forget it. Don't even check the auction again. If you win, great... ebay will notify you of the win. If not... well that means it went for more than you were willing to pay. The disadvantage of this approach is that some people will keep bidding until they finally outbid you and their bid becomes the new "winning bid". Even if they eventually quit before they outbid you, they have still raised the price of the item. This behavior can artificially raise the amount the auction closes for.

The other choice is to use a sniper. My personal favorite is AuctionSniper. The concept is the same - you decide your max bid, set it, and forget it. The difference is your bid automatically gets placed right before the auction closes, avoiding any potential bidding war. There is some cost for this service, though. You'll have to decide if it's worth it for you.

Either way, keep in mind that watching the auction till the last moment will cause you to bid more than you otherwise would! This, of course, is what ebay and the sellers want you to do!!!

mshel · 02-13-2006, 07:39 PM

Quote: Insom
The other choice is to use a sniper. My personal favorite is AuctionSniper. The concept is the same - you decide your max bid, set it, and forget it. The difference is your bid automatically gets placed right before the auction closes, avoiding any potential bidding war. There is some cost for this service, though. You'll have to decide if it's worth it for you.

Either way, keep in mind that watching the auction till the last moment will cause you to bid more than you otherwise would! This, of course, is what ebay and the sellers want you to do!!![/quote]

Rob,

I too use AuctionSniper thanks to Insom. They give you three free snipe before you have to pay. Give it a try, can't hurt.

Mike

cskipper · 02-13-2006, 07:45 PM

If you indicate your maximum bid, doesn't the bid process automatically up your bid by the defined "minimum next bid" amount until you hit your max? What does the AuctionSniper do differently?

I agree, don't watch until the bidding ends - you will always be tempted to bid higher than you originally planned. Also, be sure to figure shipping in to your "allotted" amount. Sometimes it is less expensive to buy the item from someone with cheaper (and hopefully free) shipping than to pay less for the item and more for the shipping on ebay. DAMHIKT.

McRabbet · 02-13-2006, 07:56 PM

Thanks for the advice -- my bid has already been exceeded with 45 minutes left and I'm not raising my total -- I did find another non-auction source that has one at less money and I'm going to check it out. If I get into this a little more, I'll try the sniper route.

Rob

clowman · 02-13-2006, 09:04 PM

Sniper will watch the bids, and if you are winning, it will not place a bid. If you are not winning it still will not place a bid until the very last second of the auction, then put in your max bid. Theory is, you put in the bid at the last second, and leave others no time to out bid you.

rcorne01 · 02-13-2006, 09:44 PM

I have done quite a bit on eBay, and can recommend a couple strategies. The one being discussed now is a "snipe" program. These programs do a couple of things for you. First, they don't disclose you are "in the running". If yo use eBay and even make a token bid, you have already ensured you pushed the bids closer to your maximum. Secondly, they come in real handy for those auctions that end at 2 or 3 in the morning because of the PST time zone difference. But most importantly, by waiting until the very last second, it makes it virtually impossible for someone to enter a higher bid. I mean really, if you are willing to pay $45 for something, and lost it with a bid of $45.50? Wouldn't you have been willing to part with that extra 4 bits?

The other strategy involves doing the same thing on your own. On some auction you are bidding upon, take the extra time and time how long it takes from the moment you hit "enter" until the bid is recorded. As the auction is coming to a close, open TWO windows. Size them so they are SIDE-BY-SIDE! In one, go all the way through the bidding process (enter amount, password, etc) up to the point where you hit "enter".
In the other, keep hitting refresh until you get about 5 seconds from the amount of time it takes for your bid to be recorded. Click in the other window to place your bid. For example: If you find out it takes 10 seconds from the time you hit "enter" until eBay records it, at the point there are 13-15 seconds left, swap screens, and place your bid.

Remember, doing this leaves NO margin of error! Practice it a couple of times on an auction on which you are bidding. Just make each bid the minimum amount. You'll start winning more often!

Steve D · 02-13-2006, 09:56 PM

I like the sound of the Snipe program the best because it is set it and forget it. Sniping yourself sounds like it would be almost as fun as real snipe hunting.

Joe Scharle · 02-14-2006, 09:35 AM

My strategy is like the other guys. Enter my max bid, and forget about it. Because unless it's a stainless steel interposer bail link, there'll be others to bid on.
Joe

rcorne01 · 02-14-2006, 10:00 AM

Originally Posted by Steve D

I like the sound of the Snipe program the best because it is set it and forget it. Sniping yourself sounds like it would be almost as fun as real snipe hunting.

What you didn't read the fine print about "fun"?

I agree with you as well. I use JustSnipe - a free snipe service. You get 5 "snipes" a week, no charge, able to get down to an 8 second lead time.

However, there are some that like the "hunt" as much as the "kill"!

Travis Porter · 02-14-2006, 07:41 PM

I had to look and find a picture of it on ebay, but it turns out I have one that I will loan you indefinitely if you want it. Only problem is I only have the 3/8" sleeve. I will ship it to you so PM if you are interested.

McRabbet · 02-14-2006, 09:15 PM

Thanks for the offer, but I'm homing in on one from another member.

Rob

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