A classic case of why Sniping works

pdovore · Mar 9, 2009

drbryant said: ↑

The Ebay system is good because it actually prevents a buyer from getting caught up in auction fever. In Japan, yahoo auctions automatically extends an auction for a few minutes anytime there is a new bid at the last minute. It's quite maddening to be sitting at your computer and get a meesage that says that your bid has been topped. It's hard to resist going back and entering a higher bid. Thus, while yahoo auctions can have better pricing because of fact that the market is basically limited to Japanese buyers, if two people really want an item, the price can go through the roof. The Ebay system requires you to live with your initial bid, because once those snipe bids come in, the auction is over -- which is a very nice disciplining mechanism.
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We have a trading website here in NZ that utilises the "Auto-extend" feature. That one feature puts me off that site alone

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A classic case of why Sniping works

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A classic case of why Sniping works

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