Online Worlds > Second Life

Any auction / eBay experts here?

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bezoar:
I'm embarrassed to admit, but I've never done an eBay or any other kind of auction before.

Why would I post that in this forum? Well, I tried placing an auction bid (a real low-ball one) on an SL land auction. Two actually -- one I was promptly outbid on by an automated bid increase (you can set the maximum amount you're willing to bid, and somebody else automatically upped their bid against mine), and another where I'm the current high bidder, but with a real low-ball price and more than a day to go (so I won't get it).

From what I hear, a lot of the action occurs in the last minutes before an auction closes. Why is that? Is that if you bid it up when there's too much time to go, people more often convince themselves to bid the price higher? Whereas at the last minute, people will give up sooner?

Any online auction tips?

tigressjewel:
I've done more selling than buying and by no means an expert!  I don't know why the bids go into a flurry at literally the last minute of the auction.  I've had it happen a few times in both selling and buying.  When I buy things I just use proxy bid and put in the very highest I'm willing to go for something.  I think you probably know that is not your first bid, but will just keep you in the auction unless someone else is willing to go higher than your highest bid.  True, you may not get it, but at least you won't get caught up in the competition side of bidding and bid too much!

bezoar:
Agreed...

It's been instructive though -- I looked at a dozen or two plots, and jotted down thought about my own opinions of the land, and then checked back to see what the going high bid was. I think I'm beginning to get a sense of what's "good", although some other plots that I thought were flawed, are also getting high bids.

Quite educational :)

danovara:
I am also not an expert, and have noticed that myself.  I have also done that myself where I just happen upon an auction of something I wish to get just before it ends.  And my other theory is some peeps get bit by the auction bug and forget that they only wish to pay a price and all of a sudden they want to WIN the item.  Hope that helps :)

Adventuredaz:
Call me a sceptic, but don't forget I think some people have "friends" bid on their stuff to inflate prices and prevent stuff from selling for less then they think they want.  They may fish out the maximum bid by having someone bid it up to see where a persons max is set. this is Just IMO based on my also limited observations and what I have been told.

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