Indeed.
And I read a book on auction theory, and it seems the e-bay folks read
the same book. It's conclusion was that of all the auction methods
available (silent, sealed bid, etc), the e-bay way will always bring the
most money. And the bigger the audience, the more money will be paid as
well.
So keep that in mind. E-bay is probably by far the best place to sell
an item. It is also likely the most expensive place to buy an item. At
least where a picture and description will suffice. Personally, I would
never buy a car at almost any low price without seeing it in person.
Chris
Gary Crandall wrote:
> Bob,
>
> You need to realize that the winning bid on Ebay is really determined by the
> maximum amount of the second place bid (plus the Ebay bidding margin), not the
> winners maximum amount. Your maximum bid may have been $100 for an item, but
> the winning bid only has to be $5 above that or whatever the Ebay bidding
> margin is for that bidding range. The winner could have bid a million dollars
> for that item, but you only see that his winning bid is $105. Naturally,
> you're upset thinking you were so close to winning, that if you
> only had another chance to bid $110, you could have won the item, but it
> always comes down to who has the highest bid, regardless of when the bid is
> placed. Sniping only limits the time people have to respond to a bid higher
> than their present maximum bid.
>
> Gary
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