Be an informed bidder

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Moderator_Stephanie
Posts: 399
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Re: Be an informed bidder

Post by Moderator_Stephanie » 1 year ago

MilfordsMrFixIt wrote:
1 year ago
Ruby wrote:
1 year ago
CHECK THE BID HISTORY BEFORE YOU PURCHASE AN AUCTION ITEM. I HAVE WON SEVERAL ITEMS AND WHEN I CHECKED, THE PRICE HAD BEEN JACKED UP AT THE LAST MINUTE WITH 16 BIDS HAPPENING IN THE SPAN OF A HALF-SECOND. THIS IS NOT HUMANLY POSSIBLE. HAS TO BE COMPUTER GENERATED AUTO BIDDING. DON'T BE FOOLED. ALWAYS CHECK!!
Hey Ruby, that's because some, such as myself, have very high speed connections and/or use an automatic bid. In the last second you might see 2, or more people bidding against each other, or, just one person that outbids the last bid. Checking can help, sometimes you'll see a bidder that outbids ever other bid for an extended period. That's a person that has set a price that they are willing to pay. For example, Person X sets $100 as the max. and it shows as a $1 bid. Another person bids $2, the X bids $3 automatically. a 3rd person places a hard bid of $25. the X bids $26 automatically. and so forth if and until someone bids $101 or more...
Some bidders don't have the time to sit and watch auctions, so they set the maximum that they are willing to pay and...[go to sleep, take a walk, go to work, play with their kids/grandkids, etc etc]
Thank you for your explanation of how the max bid works, you are absolutely correct with your explanation. :)
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Catticus
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Re: Be an informed bidder

Post by Catticus » 1 year ago

It's Auto-Bid. If you've ever used eBay, they have the same option. Many are re-sellers who can't sit at the computer all day. So, Auto-Bid "bids" for them. You can set the dollar amount for each single Auto-Bid, too. It can be more than a dollar each time. You set your maximum you're willing to pay, the amount your Auto-Bids will be (should someone bid on an item you have a maximum set on) and then you can go about your day, letting Auto-Bid do it all for you.

I assume it's the same here - setting the amount you want the Auto-Bid to place. Here there may be different $ amount options for that, though. I don't know because I've never used it on here.

I used to use eBay all the time. I was a re-seller.
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RS
Posts: 3901
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Re: Be an informed bidder

Post by RS » 1 year ago

Catticus wrote:
1 year ago
It's Auto-Bid. If you've ever used eBay, they have the same option. Many are re-sellers who can't sit at the computer all day. So, Auto-Bid "bids" for them. You can set the dollar amount for each single Auto-Bid, too. It can be more than a dollar each time. You set your maximum you're willing to pay, the amount your Auto-Bids will be (should someone bid on an item you have a maximum set on) and then you can go about your day, letting Auto-Bid do it all for you.

I assume it's the same here - setting the amount you want the Auto-Bid to place. Here there may be different $ amount options for that, though. I don't know because I've never used it on here.

I used to use eBay all the time. I was a re-seller.
I use auto bid sometimes. It’s the same $1.00 increments but you can put a max bid as high as you want. That is what’s happening here and folks aren’t understanding that when there’s a max bid in place and you bid ONE BID the max bid automatically ups the max bid to be higher than the bid. Up until you go over the max bid amount it will look like a bidding war with literally milli-seconds in between.
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Ruby
Posts: 39
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Re: Be an informed bidder

Post by Ruby » 1 year ago

The bids are being auto generated by LC computers. I just lost an item and when i looked at the Bid History, there were over 24 bids within the span of a half-second. This is not humanly possible.
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RS
Posts: 3901
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Re: Be an informed bidder

Post by RS » 1 year ago

Ruby wrote:
1 year ago
The bids are being auto generated by LC computers. I just lost an item and when i looked at the Bid History, there were over 24 bids within the span of a half-second. This is not humanly possible.
Noooo. See my post in the other thread you just posted in. Really, it’s nothing nefarious going on. It’s a simple MAX BID system. The computer ups the bid to a persons max.
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