Ebay Psychology

Centallica · Post by **Centallica** » Mon Aug 22, 2005 7:46 am

I always wonder what one's reason behind their bidding strategies are on Ebay....

Why do people bid the opening bid of $1.00 when it's a reserve auction knowing that it's worth many times more than $1.00 and don't bid again?

Why do people bid, then go in a few seconds later and bid again and then go in another few seconds later and bid again and then go in a few seconds later to bid again (5 bids in like 2 minutes)?

Why when you tell them in the item description what the reserve is ie. Book value is $450 and reserve is 50% of that...they continue to have bid wars with each under from $1.00 up to $30 knowing the reserve is $225 and their bids haven't met the reserve yet?

Interesting to watch this behaviour any insights from anyone?
Brian
Ebay "67nut" who has a couple of these characters bidding right now on my auctions

Post by **bbell** » Mon Aug 22, 2005 10:15 am

Hi Brian,

I can understand people bidding under reserve if they feel the seller might "give in" and accept the highest offer made in the auction, even if it is under the reserve. As a seller, why would you list an item at (say) $1.00 and put a $50.00 reserve on it. Why not just list it at $50.00 to start? It would seem to be the seller is interested in what the item is worth under the reserve, and it seems prospective buyers are willing to help.

As far as a buyer making multiple bids in a few minutes, is it possible they are being outbid by a previous bidder who has bid high, and they are sneaking up to try and outbid them? I will have to find an auction that is running and see how Ebay lists the bids in the bid history. Otherwise, this is somewhat strange behaviour (is there some broken snipe software out there perhaps?).

Brad.

Centallica · Post by **Centallica** » Mon Aug 22, 2005 10:34 am

Could be very true...never thought of that

A high opening bid sometimes scares off bidders before they read what they're getting and for some reason I get better results with a reserve with last minute snipers that can do the math oppose to a opening bid of what I need and get no results...go figure?? I also like to know if someone does come close to make them a 2nd offer oppose to having no one bid too

I've seen multiple bids even when the guy is the only one bidding on the item too....maybe can't make up his mind???

Intersting to say the least,
Brian

vic user · Post by **vic user** » Mon Aug 22, 2005 11:04 am

i find that when you see multiple bids from one person in a short period of time, they are usually trying to be the highest bidder, but keep being outbid from the current highest bidder's highest bid price, which ebay automatically does.

i know, because i do it often

when i see an item with a reserve price, i avoid it.
reserve bids drive me nuts.

chris

Post by **Jeff-20** » Mon Aug 22, 2005 12:54 pm

A single bidder with multiple bids is reconsidering their limit. Let's say they are worried that the highest bid will get "sniped" at the last minute, they will go back and "up" the bid just for added safety. I've done it when I knew I was going to bed and would miss the end of an auction.

carlsson · Post by **carlsson** » Mon Aug 22, 2005 2:53 pm

Maybe it also is a way to tell that you are serious if you put several bids, compared to the one who either at the beginning or middle jumps in out of the blue. Those who enter the bidding at the very last moment is a different story.

billlagr · Post by **billlagr** » Thu Aug 25, 2005 5:14 am

I'm a last minute kind of person. If I see something I like, I set myself a limit, and watch it right up until its nearly finished. If it goes over my pre-set limit, I don't even bother - although on occasions I might reconsider.

Post by **Jeff-20** » Thu Aug 25, 2005 4:25 pm

Another odd ebay phenomenon is the fear of lot auctions. I could have a rare game for sale in a lot of three carts... clearly identified in the title... for let's say $10. And buyers will avoid it to buy the single cart up for auction at let's say $15.

What gives?

You'd pay $5 more just to NOT get 2 extra carts? Who cares if there are duplicates? You are getting the rare cart for cheap! Ebay drives me crazy.

Centallica · Post by **Centallica** » Thu Aug 25, 2005 4:38 pm

Jeff-20 wrote: Ebay drives me crazy.

And we all check everyday probably

Brian

billlagr · Post by **billlagr** » Fri Aug 26, 2005 2:32 am

Jeff-20 wrote:Another odd ebay phenomenon is the fear of lot auctions. I could have a rare game for sale in a lot of three carts... clearly identified in the title... for let's say $10. And buyers will avoid it to buy the single cart up for auction at let's say $15.

What gives?

You'd pay $5 more just to NOT get 2 extra carts? Who cares if there are duplicates? You are getting the rare cart for cheap! Ebay drives me crazy.

Like finding, oh say a Motorodeo 2600 cart in a job lot?

Post by **Jeff-20** » Fri Aug 26, 2005 10:43 am

billlagr wrote: Like finding, oh say a Motorodeo 2600 cart in a job lot?

Motorodeoooooooo

billlagr · Post by **billlagr** » Sat Aug 27, 2005 3:11 am

Do you have an Obelix as well Jeff?

Post by **Jeff-20** » Thu Nov 30, 2006 10:00 pm

I'm starting to think that short descriptions get more/higher bids... I forgot what it's like to sell... sort of like fishing with really poor bait...

ral-clan · Post by **ral-clan** » Fri Dec 01, 2006 11:52 am

Jeff-20 wrote:A single bidder with multiple bids is reconsidering their limit. Let's say they are worried that the highest bid will get "sniped" at the last minute, they will go back and "up" the bid just for added safety. I've done it when I knew I was going to bed and would miss the end of an auction.

Yeah, I've done that too. Had second thoughts about my highest bid. But strangely, sometimes Ebay has a button which allows me to "raise my maximum bid" other times I cannot find this button and I have to just place another high bid. This unfortunately has the effect of bidding against myself!

I.e. I put a max bid of $10 on an item, and I am the current high bidder at $1. If I see the button marked "increase your maximum bid" it will allow me to raise my max bid to, for instance, $15 and I will still be the high bidder at $1.

But if I cannot find the button, and I put in a higher bid of $15, suddenly I will be bidding against my prior max bid. i.e. suddenly I will be the high bidder on the item, but the highest bid will now be $11

!

Does anyone know why this happens?

ral-clan · Post by **ral-clan** » Fri Dec 01, 2006 11:55 am

Jeff-20 wrote:Another odd ebay phenomenon is the fear of lot auctions. I could have a rare game for sale in a lot of three carts... clearly identified in the title... for let's say $10. And buyers will avoid it to buy the single cart up for auction at let's say $15.

What gives?

You'd pay $5 more just to NOT get 2 extra carts? Who cares if there are duplicates? You are getting the rare cart for cheap! Ebay drives me crazy.

Sometimes you get burned on high shipping charges with auction lots. i.e. if I saw a game I REALLY wanted, but it was being sold in a lot with a complete VIC-20, printer, etc. I would be hesitant to bid on it because I'd have to pay for the high shipping cost of the complete VIC-20 (coming from US to Canada this can sometimes be a LOT).

In that case, if I could hold out, I might wait for the game to just come up on its own.

Of course, you could always bid on the lot, and pay the full price, but ask the bidder to only ship you the game you wanted (for cheaper shipping).

If he/she was agreeable, they would then get the full auction price, but be able to auction all the rest off again. Bonus for both.