eBay n00b question

[Dissipate]

Ok, I'm not exactly new to eBay, I've bid and won auctions on it sparsely over the past few years. However, there is something that I don't understand concerning bid retractions. Let's say I bid on an item and I am the second highest bidder. If the primary bidder retracts his/her bid before the auction closes I become the winner of the auction and am obligated to buy the item at the price I bid at (this is assuming that no one outbids me after the frontrunner retracts his bid of course).

Because of this rule does this mean that when I get outbid on an item I have to wait for the auction to close before I can start bidding on similar items? For instance if I have $100 to spend on a CPU. Let's say I bid $100, I am the second highest bidder. Does this preclude me from bidding on any other similar auctions lest I want to purchase two of the same item? Is that $100 essentially tied up until the auction closes?

It just seems ridiculous to me that the money is tied up. If I bid on a auction that lasts 5 days for instance I would have to wait 5 whole days before I could bid on anything else as long as I was in second place on that auction.

 

[Ns1]

that's an interesting way to put it and i don't have an answer

but in the 4 years i've been on ebay, i've retracted a bid once, and had 1 bid retracted on one of my auctions.

 

[HiTek21]

I think if they retract the bid before it ends then i guess you are obligated to buy. This is why I usually watch my bid and snipe it at the last possible second.

 

[Confused]

Originally posted by: HiTek21
I think if they retract the bid before it ends then i guess you are obligated to buy. This is why I usually watch my bid and snipe it at the last possible second.

Yeah, I always put bids in at the last possible moment - manually.

What's the point in showing interest early on, and getting other people bidding as well. It just pushes the price up too soon, and you could well end up paying more!


Confused

 

[Dissipate]

Originally posted by: Confused

Originally posted by: HiTek21
I think if they retract the bid before it ends then i guess you are obligated to buy. This is why I usually watch my bid and snipe it at the last possible second.

Yeah, I always put bids in at the last possible moment - manually.

What's the point in showing interest early on, and getting other people bidding as well. It just pushes the price up too soon, and you could well end up paying more!


Confused

I see your point but I don't have time to sit around sniping auctions and I don't want to pay for auctionsniper.com to do it for me. I just like to put in th max amount I am willing to pay and sit back. Therefore, exactly when I bid on the item is not relevant to me, hence my original question.

 

[Confused]

Hey, don't shoot the suggester

I was also agreeing with the "I think if they retract the bid before it ends then i guess you are obligated to buy." bit also

If the highest bidder retracts, then you have to buy. Then you'll have to get outbid on the other, or retract your bid on the other item


Confused

 

[HiTek21]

True true, I know most people don't care to sit at the computer waiting till the last second, but as for me I always get out bidded if I put in my full proxy bid in even an hour before the end of the auction. I lost an auction by a penny before which really sucked. I'm really curious to see what Ebay's policy is on your topic because I've never really thought about it before, I'm just guessing because Ebay and all their infinite wisdom would probably hold you responsible for placing a bid. I'll give them an Email see what they have to say about that and I'll post what they say.

 

[wnied]

Therefore, exactly when I bid on the item is not relevant to me, hence my original question

I dont think your obligated to buy, if the guy who bids highest retracts his bid. I believe that when the bid is retracted, you are given the opportunity to buy the item at your bid price. Otherwise your not obligated to anything. The seller is supposed to offer the item to you for your bid price, thats whats happend to me a few times in the past.

~wnied~

 

[kami333]

It happened to me, I was bidding on cars and I was outbid so I looked was bidding on other ones. A few days later I get an email from eBay saying that I had won the item, at which point I was very confused until I saw the retraction. emailed the seller and they understood and didn't hold me to the bid, I think any reputable seller would do the same too.

 

[Dissipate]

Originally posted by: Confused
Hey, don't shoot the suggester

I was also agreeing with the "I think if they retract the bid before it ends then i guess you are obligated to buy." bit also

If the highest bidder retracts, then you have to buy. Then you'll have to get outbid on the other, or retract your bid on the other item


Confused

Sorry, I didn't intend my post to be an attack on you. Was just trying to explain how I like to bid on stuff.

 

[Confused]

Originally posted by: Dissipate

Originally posted by: Confused
Hey, don't shoot the suggester

I was also agreeing with the "I think if they retract the bid before it ends then i guess you are obligated to buy." bit also

If the highest bidder retracts, then you have to buy. Then you'll have to get outbid on the other, or retract your bid on the other item


Confused

Sorry, I didn't intend my post to be an attack on you. Was just trying to explain how I like to bid on stuff.

Don't worry about it, I was semi-joking due to the at the end

I know some people put bids in earlier and wait and see, but I just see that happen so many times with things I want, it pushes the price up really high really early!


Confused

 

[Dissipate]

Originally posted by: Confused

Originally posted by: Dissipate

Originally posted by: Confused
Hey, don't shoot the suggester

I was also agreeing with the "I think if they retract the bid before it ends then i guess you are obligated to buy." bit also

If the highest bidder retracts, then you have to buy. Then you'll have to get outbid on the other, or retract your bid on the other item


Confused

Sorry, I didn't intend my post to be an attack on you. Was just trying to explain how I like to bid on stuff.

Don't worry about it, I was semi-joking due to the at the end

I know some people put bids in earlier and wait and see, but I just see that happen so many times with things I want, it pushes the price up really high really early!


Confused

You ever use auctionsniper.com? That site automatically bids for you literally in the final seconds of the auction. The first time you sign up you get 3 free snipes.

I know what you mean about pushing the price up, but if that happens to me and someone outbids me, I just move on to the next auction.

 

[Confused]

Nope, never used any sniping things. I've only bought 6 things on Ebay in the past 2.5 years, and only missed out on 1 thing, that was because someone sniped me with 2 seconds to go, i missed out on that one. Even the free auction-snipers wouldn't have got that for me i don't think!

And, I like the rush of having a bidding war at the last minute with someone


Confused

 

[Saulbadguy]

If the bidder retracts his bid, you become the winning bidder. Actually, the person who retracted his bid should be obligated, but usually isn't because ebay doesn't care.

From Ebay: There are, however, a few exceptional circumstances under which you may retract a bid. These are if:

You accidentally enter the wrong bid amount. For instance, you bid $99.50 instead of $9.95.
Note: If this occurs, re-enter the correct bid amount immediately after you retract your bid. If you do not place another bid, the retraction will be in violation of eBay's policy and could result in your suspension.
The description of an item you have bid on has changed significantly.
You can't reach the seller. This means that you tried calling the seller but his or her phone number doesn't work, or you have tried emailing a message to the seller and it comes back undeliverable.
Someone has bid on an item using your User ID and password.

 

[Rob9874]

Originally posted by: HiTek21
True true, I know most people don't care to sit at the computer waiting till the last second, but as for me I always get out bidded if I put in my full proxy bid in even an hour before the end of the auction.

You're setting your sights too high for $100 then. My mom tells me this all the time, and I have no sympathy. If you're getting outbid, then you're trying to buy too much with what you have. Bid on a lesser CPU.

 

[Dissipate]

Originally posted by: Saulbadguy
If the bidder retracts his bid, you become the winning bidder. Actually, the person who retracted his bid should be obligated, but usually isn't because ebay doesn't care.

From Ebay: There are, however, a few exceptional circumstances under which you may retract a bid. These are if:

You accidentally enter the wrong bid amount. For instance, you bid $99.50 instead of $9.95.
Note: If this occurs, re-enter the correct bid amount immediately after you retract your bid. If you do not place another bid, the retraction will be in violation of eBay's policy and could result in your suspension.
The description of an item you have bid on has changed significantly.
You can't reach the seller. This means that you tried calling the seller but his or her phone number doesn't work, or you have tried emailing a message to the seller and it comes back undeliverable.
Someone has bid on an item using your User ID and password.

So, you are saying that eBay doesn't care if someone retracts their bid, doesn't place another bid and has no excuse? That sucks.

BTW, one time when I was bidding on an item I was the second highest bidder. The front runner retracted his bid but I had already bid on something else so I retracted MY bid. I didn't realize that you aren't allowed to just retract or else I would have tried to get that guy busted. I felt sorry for the seller because I think he got shafted on the final bid price.

 

[Saulbadguy]

Originally posted by: Dissipate

Originally posted by: Saulbadguy
If the bidder retracts his bid, you become the winning bidder. Actually, the person who retracted his bid should be obligated, but usually isn't because ebay doesn't care.

From Ebay: There are, however, a few exceptional circumstances under which you may retract a bid. These are if:

You accidentally enter the wrong bid amount. For instance, you bid $99.50 instead of $9.95.
Note: If this occurs, re-enter the correct bid amount immediately after you retract your bid. If you do not place another bid, the retraction will be in violation of eBay's policy and could result in your suspension.
The description of an item you have bid on has changed significantly.
You can't reach the seller. This means that you tried calling the seller but his or her phone number doesn't work, or you have tried emailing a message to the seller and it comes back undeliverable.
Someone has bid on an item using your User ID and password.

So, you are saying that eBay doesn't care if someone retracts their bid, doesn't place another bid and has no excuse? That sucks.

BTW, one time when I was bidding on an item I was the second highest bidder. The front runner retracted his bid but I had already bid on something else so I retracted MY bid. I didn't realize that you aren't allowed to just retract or else I would have tried to get that guy busted. I felt sorry for the seller because I think he got shafted on the final bid price.

My advice: wait and try and do one auction at a time. Retracting your bid just pisses the seller off. Ebay says its illegal, but like other things, ebay does nothing about it. If you do end up winning 2 CPU's, try and work it out with one of the sellers, and if you can't, buy them both and turn around and sell one of them on Ebay, and try to make up the cost.

 

[alkemyst]

What's the point in showing interest early on, and getting other people bidding as well. It just pushes the price up too soon, and you could well end up paying more!

Most of the time yes that is the smarter thing to do, unless it's a one of a kind type item that may get pulled if no one bids.

However, regarding the original question. Your bid stands until the auction ends you are responsible if you win. This is one of the reasons long auctions are hated as well as why some bid late. If you have doubts you can retract your own bid, however, it's not by the rules to do so....like in a real auction you bid you can't say at the last minute no, nevermind.

Å