Re: Strange bidder on this item

[mjmahon@aol.com (Michael J. Mahon)]

Bill Garber wrote:

>I agree, but I thought it odd that someone would throw
>that much of a higher bid on so early. Doesn't make sense
>to me.

Well, one theory of bidding is that if you see something you
like that you are willing to pay $x for, then you immediately
(and finally) bid $x and wait to see if you get it.

You don't make a series of incremental bids, since if you're
willing to pay $x, you might as well go for it.

And you never respond to an "outbid" notice, since you
are only willing to pay $x.  Responding to other bidders
is only an emotional game that may cause you to bid
more than you are willing to pay.

It's not _my_ bidding theory, but it's one that eBay suggests,
and implements in their proxy bidding system.


-michael

Check out amazing quality sound for 8-bit Apples on my
Home page:  http://members.aol.com/MJMahon/