Re: OT Question about ebay (Apple Lisa)

["Michael J. Mahon" <mjmahon@aol.com>]

Paul R. Santa-Maria wrote:
> Jorge Chamorro Bieling wrote:
>
> > 1.- Why would someone bid several times "against" himself ?
>
>
> The winner bid a low amount and a high amount.  He may have
> had a specific goal, but it looks to me like ignorance of
> the way eBay handles bidding.
>
> The loser kept putting in higher and higher amounts trying
> to outbid the winner, instead of putting in his highest bid.
> Again, it looks to me like ignorance of eBay bidding.

Thanks for clarifying, Paul.  I had been looking at the
other bidder.  You are correct, the first bidder entered
his initial bid before considering what he was actually
willing to pay, then covered it with a higher proxy.

This is yet another signal of emotional rather than rational
bidding.

> Some people think that eBay is like a real auction.  But, if
> you bid your maximum, then it does not matter if you are
> outbid six days or one second before the auction ends.
> Either way the cost is more than you are willing to pay.

Yes, but if you put your high proxy in early, it is much
more likely that you will be either outbid or bid up by
someone not bidding rationally.

Bidding at the last second turns the auction into a "sealed
bid" auction as far as your bid is concerned, protecting it
from emotional bidders.  (And protecting you as well, from the
the last second urge to bid more than you are actually willing
to pay. ;-)

-michael

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