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Monday, June 26, 2006

Do you Ebay snipe?

"Sniping" on ebay is to bid during the closing seconds of an auction in an attempt to win the auction by denying others time to out bid you. This method is extremely popular and I personally see it happen with most of my auctions. In fact, there are many programs that will even do the last minute bidding for you.

But just how effective is this method? USAToday has an article that shows, mathematically, that "it pays to snipe." Apparently a bunch of South Korean physicists did some research on this matter and concluded that:
...the probability of submitting a winning bid on an item indeed drops with each bid. "Our analysis explicitly shows that the winning strategy is to bid at the last moment as the first attempt rather than incremental bidding from the start."
So, the question is, do you ebay snipe to win auctions? I personally don't. If I see an item I want, I just bid the price I'm willing to pay and see what happens. However, since I hardly win any auctions, maybe my bidding strategy is severly flawed.

I'm curious, do any of you guys have a particular ebay bidding strategy you use? AND on the flip side, what about any particular selling strategies to counter ebay sniping?


Blogger pkthunder said...

Yes, I snipe. But first I look a whole lot at what prices similar items are closing at and see if they are in my price range. If not, then I won't bother bidding. If they are close to my range, then I try to snipe within the last minute of the auction.

5:21 PM  
Anonymous Karon said...

Ebay sniping is often the ONLY way to win at Ebay especially on popular items . Sometimes i am willing to go a bit higher than the average price for that item if it is still cheaper than in the shops

10:22 AM  
Blogger wmc said...

I will bid on the last 20's to see if I am the highest bidder. It depends if the item is popular or not.

1:22 AM  
Anonymous Anonymous said...

Sniping is the very best way to win and a way to pay less than you might otherwise. It's my number one reason for spending the money for a fast online connection. I was a full-time seller on ebay long before I bought much and I don't have an issue with it. Sort of like not having a problem with early birds when you're running a garage sale. It's just the way things work - why have a fit about it?

9:35 PM  
Anonymous Anonymous said...

Yes I snipe. It is just simplier. I use this website called snipestreet.com and what is nice about besides being free is that it has bid groups. What that does is if you are looking for a particular item, let say a printer, you put bids on all the printers that match your criteria. Once one of the bids wins, the others are automatically deleted. It is a good way to relieve stress. No more worrying about checking to see if my bid will win. It's great, I'm not sure I can ever go back to manual bidding.

6:15 PM  
Anonymous Anonymous said...

My own experience is that sniping on ebay is most beneficial when used for items whose value is less known in advance (e.g. rare coins or items with unstable price). Submitting your bid early is a valuable information for other bidders and you should not do it (definitely use sniping). On the other hand, if the value of item is well known and stable (e.g. electric toothbrush), you may be better off submitting your bid early due to ebay bid increments (that favor early bidder).

As for the sniping software / services used, this used to cost some money a while ago, but now I can see several free services. I used to pay for esnipe, but now I use Gixen, which is free.

9:27 AM  
Anonymous Anonymous said...

A little while back, I was browsing these newsgroups, just like you are now, and came across an article similar to this that said you could make thousands of dollars within weeks with only an initial investment of $6.00! So I thought," Yeah, right, this must be a scam", but like most of us, I was curious, so I kept reading. Anyway, it said that you need to send $1.00 to each of the 6 names and address stated below in the article. You then place your own name and address in the bottom of the list at #6, and post the article in at least 300 newsgroups. (There are thousands) No catch, that was it. After thinking it over, and talking to a few people first, I thought about trying it. I figured what have I got to lose except 6 stamps and $6.00, right? Like most of us I was a little worried about the legal aspects of it all. So I checked it out with the U.S. Post Office (1-800-725-2161) and they confirmed that it is indeed legal! Then I invested the measly $6.00.............plus postage Well GUESS WHAT!!... within 7 days, I started getting money in the mail! I was shocked! I still figured it would end soon, and didn't give it another thought. But the money just kept coming in. It's certainly worth $6.00, and 6 stamps! Let me tell you how this works and most importantly, why it works.... also, make sure you print a copy of this article NOW, so you can get the information off of it as you need it. The process is very simple and consists of 3 easy steps: IMPORTANT: If all of the following instructions are adhered to, you will receive extraordinary dividends.
Please follow these directions EXACTLY, this program remains successful because of
the honesty and integrity of the participants. Please continue its
success by carefully adhering to the instructions.
You will now become part of the Mail Order business. In this business your product is not solid and tangible, it's a service. You are in the business of developing Mailing Lists. Many large corporations are happy to pay big bucks for quality lists. However, the money made from the mailing lists is secondary to the income which is made from people like you and me asking to be included in that list First you need to copy this article to your Notepad. Place your cursor at the beginning of this letter and drag the cursor to the bottom of this document, then go up to your Menubar and select Edit and then Copy. Now open your Notepad (it should be blank) Put your cursor at the top of the blank page, and then select Edit and then Paste. Save your new notepad file as a Text Documents and click Saveā€¦.. it is simple. Your Notepad is where you'll do the steps below. Keep it open for now so that you can do the following steps.

Here are the 4 easy steps to success:

STEP 1: Get 6 separate pieces of paper and write the following on each piece of paper "PLEASE PUT ME ON YOUR MAILING LIST." Now get 6 US $1.00 bills (or Euros/Pounds) and place ONE inside EACH of the 6 pieces of paper so the bill will not be seen through the envelope (to prevent thievery). Next, place one paper in each of the 6 envelopes and seal them. You should now have 6 sealed envelopes, each with a piece of paper stating the above phrase, your name and address, and a $1.00 bill. (If you do not live in the U.S. you must put an international stamp on your envelopes). What you are doing is creating a service. THIS IS ABSOLUTELY LEGAL! You are requesting a legitimate service and you are paying for it! Mail the 6 envelopes to the following addresses:

#1 David Davis, 2627 76th Ave., Oakland, CA. 94605 USA

#2 Tim Wyatt, 9010 Ledgestone Ln., Port Richey , Fl 34668 USA

#3 Sarah Arvesen, 5327A Beeler St., Pittsburgh, PA 15217 USA

#4 Erin Jackson, P.O. Box 891, South Bend IN 46624 USA

#5 Jason Schadewalt, 9 W. Washington, Freeport,IL 61032 USA

#6 Eldridge Zaandam, Schotelweg 66, lelydorp, district Wanica, Suriname South-America

STEP 2: Now, in the Notepad delete the #1 name and address off the list that you see above, change the numbers so that (#6 becomes #5, #5 becomes #4, etc...) and now add YOUR Name and Address as # 6 on the list.

After you're done save it by selecting File, then Save. STEP 3: Change anything you need to, but try to keep this article as close to original as possible. Now, post your amended article to at least 300 newsgroups. (I think there are close to 24,000 groups) All you need is 300, but remember, the more you post, the more money you make! You won't get very much unless you post like crazy. This is perfectly legal! If you have any doubts, refer to Title 18 Sec. 1302 & 1341 of the Postal lottery laws.

Keep a copy of these steps for yourself and, whenever you need money, you can use it again, and again. PLEASE REMEMBER that this program remains successful because of the honesty and integrity of the participants and by their carefully adhering to the directions. Look at it this way. If you are of integrity, the program will continue and the money that so many others have received will come your way. NOTE: You may want to retain every name and address sent to you, either on a computer or hard copy and keep the notes people send you. This VERIFIES that you are truly providing a service. (Also, it might be a good idea to wrap the $1 bill (or equal amount) in dark paper to reduce the risk of mail theft.) So, as each post is downloaded and the directions carefully followed, six members will be reimbursed for their participation as a List Developer with one dollar each. Your name will move up the list geometrically so that when your name reaches the #1 position you will be receiving thousands of dollars in CASH!!! What an opportunity for only $6.00 ($1.00 for each of the first six people listed above) Send it now, add your own name to the list and you're in business! ---DIRECTIONS ----- FOR HOW TO POST TO NEWSGROUPS------------ Step 1)Since you saved this document to your Notepad you don't need to re-type this entire letter to do your own postings. If you want to do your postings in different settings, you'll always have this file to go back to. Step 2) Use Netscape or Internet explorer and try searching for various newsgroups (on-line forums, message boards, chat sites, discussions.) Step 3) Visit these message boards and post this article as a new message by opening your saved document and highlighting the text of the document and selecting Paste from the Edit menu (you need to do this only once). Type in the Subject, this will be the header that everyone sees as they scroll through the list of postings in a particular group, put your cursor in the message box then select Edit and paste. Click the post message button. You're done with your first one! Congratulations...THAT'S IT! All you have to do is jump to different newsgroups and post away, after you get the hang of it, it will take about 30 seconds for each newsgroup! **REMEMBER, THE MORE NEWSGROUPS YOU POST IN, THE MORE MONEY YOU WILL MAKE! BUT : YOU HAVE SHOULD POST A MINIMUM OF 200** That's it! You will begin receiving money from around the world within days! You may eventually want to rent a P.O. Box due to the large amount of mail you will receive. If you wish to stay anonymous, you can invent a name to use, as long as the postman will deliver it. **JUST MAKE SURE ALL THE ADDRESSES ARE CORRECT.**

When your name is no longer on the list, you just take the latest posting in the newsgroups, and send out another $6.00 to names on the list, putting your name at number 6 again. And start posting again. The thing to remember is: do you realize that thousands of people all over the world are joining the internet and reading these articles everyday?, JUST LIKE YOU are now!! So, can you afford $6.00 and see if it really works?? I think so... People have said, "what if the plan is played out and no one sends you the money? So what! What are the chances of that happening when there are tons of new honest users and new honest people who are joining the internet and newsgroups everyday and are willing to give it a try? Estimates are at 20,000 to 50,000 new users, every day, with thousands of those joining the actual internet. Remember, play FAIRLY and HONESTLY and this will really work. - try it out and see.

9:31 PM  
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5:32 AM  
Blogger buy and sell on ebay said...

"I'm curious, do any of you guys have a particular ebay bidding strategy you use?"

Automated sniping is the way to go. It saves you time, can save you money, and helps with peace of mind - schedule your snipe with your absolute maximum bid and (try to)forget about it.

"AND on the flip side, what about any particular selling strategies to counter ebay sniping?"

Have the highest bid. That will counter any sort of bidding "technique".

If you want to give automated sniping a try, hidbid.com is a free ebay sniper I recommend.

4:40 PM  

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