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discussion topic: Snipe bidding

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discussion topic: Snipe bidding
Psycho Pixie

Psycho Pixie

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This topic came to mind when Molly posted her thread about shill bidding.

Can we get a nice agreed upon answer to these questions regarding snipe bids?

On the EBay topic::

  1. What is the true definition of "snipe" bidding? What is it?
  2. Why does someone snipe bid?
  3. Whats the point of a snipe bid?
  4. Are the snipe programs really worth the effort?
  5. Can a snipe bid truely effect a final price on an item?
  6. **optional** Do you use a snipe program or snipe bid?

On our DPF pin auctions::
  1. Do you really think snipe bidding occurs? **do you have an example?**
  2. If yes to the above question, do you think there is any way to stop it from occuring in the future?
  3. If your an auctioneer, do you truely worry that someone will snipe you with a hidden mickey?
  4. What is your honest opinion of snipe bidding in the auction house?


the reason i ask is because i really don't see how a snipe bid will beat you on eBay unless you didnt put your max bid in. Which to me is just gambling on loosing the pin anyway. If i bid in an auction on eBay, I always put my max in, that way i dont have to go back over and over to watch it, add to it, or change it. People do not know what my max bid is, so sniping a random bid amount right at the end doesnt make much difference to me. Am I wrong???

I hear "someone sniped my bid at the last second." an aweful lot when people loose an eBay auction. And the only thing i can think to myself in that situation is, "Why didnt you put your max bid in?" They can only snipe outbid you in the last 10 seconds if they are willing to bid a higher amount than you anyway.

Thoughts?
 
Totally agree about max bids but again because of shilling i rarely if ever put in my max bid until closer to the end of an auction.Sniping IS effective because it removes the other bidders ability to bid again or to bid more than they may have initially wanted to. Heat of the moment bids are commonplace and why shillers are able to push up prices. I have used a sniping program off and on for years, I am happy with the results of using it.

Not sure about auctions here as I tend to avoid them because I can't really hang with the mega bids made there.
 
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DID SOMEONE SAY SNIPE??
 
I always snipe. It's pretty clear based on people's comments over the years, that they don't really understand proxy bidding, or what their max bid truly is, in their heart of hearts. So they underbid. Sniping, denies the other person the ability to re-evaluate.
 
Also, sniping is more like... say you put your max bid at $20 (because that's what you're willing to pay, and that's the average going rate for the pin), and you are the current high bidder at $5.00. The sniper will place a bid like $20.01 in the last few seconds of the auction. The sniper also knows the current rate for the pin, and is "guessing" you will make a similar max bid. They don't know for certain what your max bid is, but they try their bid to see if you put $20 or $25 or whatever. Because eBay makes you bid in minimum increments of $0.25 or $0.50 or $1.00 or whatever (depending on the current high bid), they can beat your max bid by just 1c instead of having to bid $20.50 or $21. so, you lose a pin that you were willing to pay $20 for by 1c. if you weren't willing to pay more than $20, then that's fine. But most bidders hate losing by 1c or 10c or whatever.

That's my understanding of sniping.
 
I snipe on auctions all the time. Its a way to guarantee that you will get the pin you want or whatever the person is auctioning. I don't see a problem with it. Even if you put in a max bid, that doesn't mean someone wont bid more than you. Also, I don't usually bid early in the auction, unless no one bids, and wait until the last 5 minutes depending on how high the bid is.
 
I dont see a problem with "snipe bidding" on eBay auctions either. :) i am just curious about what it really is, and if it really works.

I was under the impressions a snipe bid, was when someone watches an auction that is like, .99c... then in the last seconds, even though its worth way more, bids the min bid to grab the item for way under the true value. Often when the item is mis-listed or whatever.

However, based on the response so far, a snipe bid is basically any time someone bids in the last few minutes or seconds of an auction, regardless of amount. This is so far a very helpful thread for me.
 
Sniping Isn't an issue with a realistic bid. But crazy money sniping, meaning you put an insanely high amount just to make sure you win, that's dangerous. I've seen a few auctions where two people put crazy high bids and the crazier of the two ends up winning but WAY higher than they expected to pay. Lesson, don't bid more than you are truly willing to pay.
 
Sniping is essentially when you put your max bid in with seconds to go. If you're planning to outbid someone on an auction, why do it when they have time to enter a higher bid and cause you to either lose the pin or enter an even higher bid than what you wanted? There's nothing wrong with it. It's just being smart with your bidding.

there are computer programs that will do the bidding for you when there are 3-6 seconds left in an auction. That way they don't have to be at their computer to bid. Again, it's an actual bid that's being made, and the bidder pays for the final price. It's just the way that auctions work.
 
Psycho Pixie said:
I dont see a problem with "snipe bidding" on eBay auctions either. :) i am just curious about what it really is, and if it really works.

I was under the impressions a snipe bid, was when someone watches an auction that is like, .99c... then in the last seconds, even though its worth way more, bids the min bid to grab the item for way under the true value. Often when the item is mis-listed or whatever.

However, based on the response so far, a snipe bid is basically any time someone bids in the last few minutes or seconds of an auction, regardless of amount. This is so far a very helpful thread for me.
Click to expand...

I've lost bids like that before. I lost a Jasmine pin I really wanted because ebay didn't accept my highest bid and I lost the pin by 5 cents. Needless to say, I wasn't thrilled. I wasn't able to change the bid because someone bid at the very last second. Sniping is bidding at the very last second. Usually the person wins by 10 cents at the most.
 
Sniping is one of the auction anomalies created by eBay. No other auction house in the world holds auctions like eBay does... The whole point of an auction is to continue the sale until no one wants to pay more for an item... That being said, here's the thoughts on Sniping:

What it is is placing your max bid in the last seconds of an auction. The idea is to not allow enough time for someone else to get outbid and think 'Damn, I'll pay more for that' and try to increase their bid. In a real auction, this happens all the time. Someone will think they won't pay more than $100 for an item, then when they get outbid at $125, suddenly there's a combination of the excitement of the auction, and thinking 'hell, maybe it's worth more than I thought' or 'Man, I really don't want to let that go' so they bid again... And sometimes again, and again, and again... :) It doesn't necessarily happen on every auction, but how many times have you bid your 'max' on something on eBay in the last few seconds, only to get outbid and think 'Damn, I should have bid more'... (And I don't mean just on pins). For a lot of people, their experience with auctions is mostly limited just to eBay, so there's a lot about this 'bidding frenzy' mentality that they sometimes don't understand. Standing on the floor of a live auction (or, these days, watching it live on your computer) and waving your hand in the air amongst a group of exciting people cheering you on does wonders when it comes to re-thinking how much money you can spend... (And, yes, that can kind of be a bad thing... It's like going to Vegas, if you don't have the self control to just cut yourself off at the gambling table when a certain amount is spent, simply DON'T GO! Same with live auctions of things you really like... :) :) )

So, to answer your questions:
1- Placing what you believe is your maximum bid amount on an eBay 'auction' in the last seconds of the listing.
2- In hopes of getting as cheaply as possible (not allowing enough time for counter-bids).
3- See #2 and: Also, waiting until the end to place your bids helps reduce the 'popularity' of the item. If a lot of people are bidding throughout the 7-day run of the auction, that will raise the price early on, and people will start thinking it worth more, and raising their max bid, even if they snipe... Sort of a slow-motion auction frenzy.
4- Snipe programs/services are nice because you don't have to be at your computer to place the bid. I use an online sniping service, so I can 'place' my bid with them as soon as I see the auction, and I'm notified if I win when it's over. I can also change (increase/lower) or cancel the bid at the sniping service at any time without any penalties... I just consider it a nice front-end for eBay. :)
5- Yes, in the sense that it buts down the frantic 'bidding frenzy' that any normal auction has. But if everyone truly has their max bid determined in their head, and they all place it 10 seconds before the end of the auction, who ever is willing to pay the most still wins... (But no one gets that chance to think 'wait, I'll go a few hundred dollars more'... (Trust me, I've been to live auctions... I've spent more than I should at them... It happens to all of us. :) )
6- I place all my final bids via my snipe tool...

The main drawback? No matter how you bid, if you wait until the last seconds, SOMETHING could go wrong and your bid doesn't get placed. Your internet could go down, the internet of your snipe service could go down, all of eBay could go down... None of it will matter. eBay stance is 'You've had 7 days to bid, you shouldn't have waited until the end'...

eBay really should allow sellers the option to auto-extend auctions by 5 minutes if there's a bid placed in the last 5 minutes... I've never understood why they don't do this (that's what an auction is, after all... Ever heard of a real auction ending without the familiar 'Going... Goooing... GONE!' statement by the auctioneer?) Even Yahoo auctions have this option... But any other online auction service that ends at a specific time got the idea from eBay. They made a major mistake in their auction format software, and now everyone seems to think that's how auction should work...

I've never bid on a DPF auction, so I can't speak for that. But, from what I know about them, since the seller DETERMINES who the highest 'bidder' is, waiting until the last second doesn't really make any sense... You could bid your entire collection in that last second, and the seller might still decide he/she wants the one pin off their Grail list offered by someone else...

I, personally, don't think ANY auction should be forced to and at a certain time. Wait until there's no counter bids for an hour or so, and then announce that you will be closing the bidding window soon (i.e., Going once/twice), and then post that no more bids will be accepted. Then make your winning announcement if it's not already listed via leaderboard or something...
 
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I have no problems with sniping on eBay since anyone can do it and the shill bidders aren't going to do it since they want to drive up the prices, not win the auction. I think sniping in trade auctions on here is very not cool.
 
I've lost more than a couple auctions because I had planned to snipe and then in the last few minutes something comes up, and by the time I get back to the computer the listing has ended and usually for less than what my snipe bid would have been. I may have to check into these sniping programs...

Btw I love the Kevin pic! :bigthumb:
 
I personally dont use any sniping programs, but on the rare occasion I do buy something from ebay, I always snipe bid....usually in the last 30 secs or so, as late as I can...it's a gamble as if your bid still isnt good enough you dont really have time to consider upping your bid, or what you new maximum bid could be because the auction will have ended.....however, I find it to be more effective, and have definately been more successful doing this than bidding with plenty of time until the auction ends...
 
Snipe bidding is within the rules !It does not matter if you bid with 2 days to go or 10 seconds, it is still within the deadline.
Yes you take a chance but that is what it is all about. I snipe all the time on pins I am interested in and usually do it with less than 10 seconds to go.
It also takes out the emotional bid of going higher than you really wanted to go.
I do not use a programme, I use my skills. I bid what my max is and at least I find out very quickly if I won or not.
I have won quite a few with pretty low amounts and plenty in reserve and some within pennies.
 
Psycho Pixie said:
Everyone is providing such excellent opinions and answers! Thank you so much!!!

Can we shift a bit and talk about the concerns people raise with snipe bids on DPF auction house?
Click to expand...

If an auction is being bumped daily, snipe bids just shouldn't be an issue. I guess it might be a good idea if you could put an 'alarm' on your own auction threads...like maybe an email to let you know there have been no new posts for 48 hours?
 
Ha! Is that what snipe bidding is?? I didn't know there was a name for it. Well I do that all the time... :lol: Many times it works in my favor and sometimes I lose. It's the nature of the beast. Sometimes I forget to bid at the last minute and then when I see the final price, I think to myself "aw hell no was I gonna pay that much" so I wouldn't have won the auction to begin with whether I snipped or not. I think snipping is great for great pins you plan to use as traders because if you lose the auction, no biggie.

Snipping at the last minute on DPF should make sense but it doesn't always work out that way because the auctioneer has already placed a value on their pin and all of the the current bids. So as someone said, unless you're coming in at the last-minute and offering your entire collection of LE 100 pins for whatever grail pin, the auctioneer has pretty much already made up their mind who is going to win.

Slightly off topic... tied leader boards with 2 people in 1st place, 3 people in 2nd place, and 4 people in 3rd place (or various other combinations) has to stop.

Good topic Kristine!
 
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