OT: ebay sniping

["Michael LaMeyer" <m.lameyer@verizon.net>]

Not 5 minutes, 5 to 10 seconds.

Could you actually see the same kind of inflation in 5 minutes that could
happen over 7 days?  Yes.  It really all depends on the max bids involved,
demand, etc.  BUT, as a generalization, when there's 5 days left in an
auction, or even 5 minutes left, there's more time for consideration and
response, imho, than 5 seconds.  Consider the following scenario:

5 days before the auction ends, all on the same day, 3 bidders place their
absolute maximum bids.  What should happen is that the proxy bidding 
process
will increment the bids until only one of those three is the last bid (i.e.
the other two bids' maximums are not as high).  So here we are, 5 days left
on the auction, and the price is at 1 person's absolute maximum bid.  Fine.
If it so happens that any of the other two bidders actually DIDN'T put 
their
absolute maximum bid in, they may bid higher later on in the auction, or
over the 5 days, some other individuals bid, bringing the price higher.

Same deal, but their's 5 seconds left in the auction.  3 bidders place 
their
absolute maximum bid, the proxy bidding process fights it out, 1 person
wins.  There's no chance for further inflation.

This isn't some kind of statistical analysis, it's a matter of odds, and
subjective to me.  Is it possible that all kinds of scenarios play out in
ebay land?  Certainly, and highly likely.  But it seems to me that the more
bidding (and automated proxy bidding) that occurs earlier in the process,
the more likely that the price will be higher in the end.  IMHO.

Mike

> -----Original Message-----
> From: Greg House [mailto:ghunicycle@yahoo.com]
> Sent: Wednesday, February 26, 2003 11:49 AM
> To: Loopers-Delight@loopers-delight.com
> Subject: Re: OT: ebay sniping
>
>
>
> --- Michael LaMeyer <m.lameyer@verizon.net> wrote:
> > The difference is in timing.  If there's 7 days left in the
> auction, and one
> > person outbids you, the price could inflate much faster and
> farther than if
> > this same exchange occured in the final 5 or 10 seconds of
> the auction.
>
> Maybe...
>
> So you go in and put in your max bid 5 minutes before the end
> of the auction,
> it's it basically the same?
>
> I'm not trying to be argumentative, I just don't understand
> how it'd really work
> any better. Is the idea that you're doing it so close to the
> end that nobody else
> has a chance to outbid you? If so, what about the person that
> DID enter a larger
> "max bid" and the Ebay system automatically outbids you?
>
> Greg
>
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