So I'm bidding on a vehicle on eBay (no linky ... don't want any of you luzers sniping me
). I figure out the max I'm willing to pay for it, and bid it. I've bid twice ... raised it once based on new information from the seller and a friend that went to look at it for me.
So I'm winning the auction with 5 days left ... current bid is well below my max bid. So some guy comes in last night and bids 4 times in one minute! He bumps it by about $1K, but I'm still winning. Today he does it again ... 3 bids in 1 minute, bumps the price by $1K ... still well below my max bid. I'm not really concerned ... I fully expect the bid to get into the neighborhood of my max before it closes ... actually, I doubt I'll win it.
But what's the point of bidding like that?? Bid what you're willing to pay. Even if you outbid the current winners max bid, you'll only be liable for that amount + the current increment.
So I'm winning the auction with 5 days left ... current bid is well below my max bid. So some guy comes in last night and bids 4 times in one minute! He bumps it by about $1K, but I'm still winning. Today he does it again ... 3 bids in 1 minute, bumps the price by $1K ... still well below my max bid. I'm not really concerned ... I fully expect the bid to get into the neighborhood of my max before it closes ... actually, I doubt I'll win it.
But what's the point of bidding like that?? Bid what you're willing to pay. Even if you outbid the current winners max bid, you'll only be liable for that amount + the current increment.
