Why are people stupid? Ebay and Porsche Parts

[KevinH1990]

I've never had a coherent strategy for bidding on eBay. I've only bought 7 items in the entire time I've been registered, and three of those were for my daughter. I've always done much better buying and selling things on Craigslist. The lack of fees makes the transactions much more efficient, and I know I behave irrationally on eBay.

For example, I recently bid on a used Porsche hard top storage cover. The covers cost over $100 new and the "Buy It Now" price was $25 with $9 shipping. I bid $10 and the bid was good for two days without any counter bidders. The seller removed the "Buy It Now" and the bids went over $25 fairly quickly. It eventually sold for $51.

Now the irrational behavior kicked in when I saw the bids going over $40. I eventually bid $50 for the same item that I was unwilling to "Buy Now" for $25. Can anyone explain this behavior - I can't and it's my behavior.

On the other hand, I picked up a matching hard top for my car in almost perfect condition for $610. I guess it's better to be lucky than good.

[Perfectlap]

I too am a highly trained sniper. I'd say 95% of my bids come within the final 90 seconds or buy it now.

^ $610 for a hard top is a very good deal indeed.
Which incidentally was the item I was bidding on that sparked this thread/exasperation. I think I paid about $600 for my cheapo Miata hard top. The Spec Miata racing guys started buying them all up tripling the price from a couple hundred.

I buy just about everything there FIRST before caving in and paying retail. I recently bought three 1000 Thread count sheet sets for $140 delivered.
Had to do a little behind the scenese negotiation with 4 different sellers.
Lots of deals to be had for 'non-listed' items.

[SD987]

"Now the irrational behavior kicked in when I saw the bids going over $40. I eventually bid $50 for the same item that I was unwilling to "Buy Now" for $25. Can anyone explain this behavior - I can't and it's my behavior."

I've been snared in this tangled web myself. So next time you're overpaying for an eBay purchase through no fault but your own, at least take solace in not being the only one.

[djomlas]

the key is to bid 7 seconds b4 t he auction ends

[pecivil]

sniping is key. I have won all of my high demand item bids via sniping.

There is no other way, grasshopper. Snipe or be sniped.

unless of course you bid a very high number (ala christian dior mugs) that you know no sane individual would bid to.

not to say you aren't sane, Randall

[Thumper]

I agree on sniping. I've been sniped in the past within as close a second to go, but I've also pulled off some classic snipes myself. If I get beat, I just consider it well played and graciously accept my defeat.

I only bid early on if the price is rediculously low and only do so to keep an eye on the item. I watch approx. 30 or more items all the time, but only throw a bid on what I'm serious about. If others bid the item too high, too early, I usually pass. This can be annoying when it's a hard to come by item. I've waited up to 6 months for some items to show back up.

But by far the best way to get the best deal is to throw that bid in with seconds to go.

[David N.]

Thumper just made a point for early bidding. Consider the bid amount with an hour left on an item. Now consider what the final bid might be. Do you think going up by double, maybe even triple as much might not be too out of the ordinary?

Now imagine it went up some of that amount five days before the auction closed. An item that reasonably goes for $40 is sitting at $60. Would you really want to try to snipe on something like that? Occasionally I'll put in a reasonably high bid right early just for that reason. Usually people that bid against other people early are those that aren't that serious about the item, so they won't fight too hard. But they'll fight and get it "just high enough". Given time to think about it, "just high enough" is enough to scare off most serious people I imagine. It's when you have 12 seconds to think about it, and have spent the effort to be at the computer when the auction ends...that's when you get spending silly. I remember watching some football tickets sitting at $350, which was already pricey. I was going to snipe up to $525 and figured I was set (they were pretty good seats to a great game). When the dust settled the tickets had gone for $950. I don't think snipers went in expecting to pay that much. But had it been sitting at $500 for a few days?

Early bids remove emotion from the equation. Late sniping removes incremental bidders from the equation. I guess take your pick..

-David