billstiggins
Level 3
Joined: April 30th, 2009, 6:19 pm

March 24th, 2014, 6:52 pm #11

rsinige,Mar 24 2014 wrote: My only experience of this was when I bid just over £100 for a Beatles single. When I bid the record was at the starting price of £4.99. I didn't win the record as a last minute bid came in and beat mine by a fiver. Obviously I don't know what the Max was but I lost the auction. Within minutes of the auction ending I had an email from the seller stating the winner couldn't complete and I like the record for my maximum bid of the £100+ I bid !!!! In principle I declined cos I smelt a rat!!
Oh the record was a push out made in France Hello Goodbye!!!!
I've got principals, wish I didn't!  Ho hum!!!
Yes, that really irritates me with ebaY's second chance offer.

Of course you'd have been prepared to buy it for £100 (because that's what you bid), but if the 'winning' bid hadn't been placed, you'd have won the auction for far less, which the seller would have had to sell for (as there wasn't a reserve).

Second chance doesn't seem very well thought out.
Last edited by billstiggins on March 24th, 2014, 6:52 pm, edited 1 time in total.
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socorro
Level 5
Joined: June 8th, 2012, 11:16 pm

March 24th, 2014, 7:21 pm #12

Agreed. The second chance price should be what it would have sold for in the absence of the "winning bid. In other words, the third highest bid, plus the relevant bid increment.

As a deliberate long-term strategy, I sometimes bid a bit more than I really want to pay, on the theory that the true bargains will balance out the occasional overpays.

I've seen the argument that you shouldn't complain if you are the victim of shill bidding because you can never pay more than you were willing to. I disagree. The top end of an aggressive bid is what I would reluctantly pay. What I would willingly pay is less than that. My typical bid takes into account that usually if I win at all, it will be for some amount between willing bargain and reluctant overpay.

To put it another way, if I regularly received second-chance offers, I would systematically adjust my maximum bids downward.

I'm sure there is psychological research on the game theory of auctions. I bet it is enlightening.
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muffmasterh
Level 6
Joined: April 9th, 2007, 1:06 am

March 24th, 2014, 11:40 pm #13

yes thats what should happen all the bids from the winning bidder should be removed if they don't complete and the 2nd offers should be based on that...

But missing out on a French push out HG......well at least we know there is another hehe !!
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evert180_0
Level 2
Joined: December 19th, 2013, 10:03 pm

March 25th, 2014, 10:38 am #14

RockySassoon,Mar 24 2014 wrote:
This week I had the case of someone trying to outbid me during the last few minutes in the smallest possible steps - then as he realised he went past my bid, he withdrew his last bid during the last two seconds, leaving me as the "lucky winner", ha ha...
I saw this first hand last week and it was weird to see.I was only watching the item but all of a sudden the price kept going up £4 at a time until the bidder became top and then his last bid vanished.You feel a bit shocked like you are seeing a crime like someone smashing a shop window and running off with some jewellery but are not sure what to do. I meant to get the sellers Id and post it on here but forgot to save to my watch list.It was cheeky to say the least. I have also won an auction this way and refused to pay.The seller wasn't happy till I said about the dodgy bids and he quickly cancelled the auction and even gave me positive feedback lol
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socorro
Level 5
Joined: June 8th, 2012, 11:16 pm

March 25th, 2014, 12:46 pm #15

Yet another reason not to post an early max bid unless absolutely necessary.
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jimboo
Level 3
jimboo
Level 3
Joined: August 4th, 2010, 12:21 am

March 25th, 2014, 2:00 pm #16

I have a Joe Meek record ending today and there is this guy bidding up at £4 per bid until he is top bidder, makes me look like a dodgy seller. :ph43r:


http://offer.ebay.co.uk/ws/eBayISAPI.dl ... 1555.l2765
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