Auction max bids

[Hornedfrogbbq]

So most auction houses will allow you to place a bid and then set your "max" bid with incremental bids going up some consistent amount. I know I am a cynical F-cuss but is anyone skeptical of putting out a max bid that the auction house can see? Has anyone put a max bid out there and bought the item BELOW the max bid they put in?

I am a jaded old man -- and get the hell off my lawn.

 

[Lance Hopper]

Not at all! I would never give them my max bid.

 

[CraigV]

So most auction houses will allow you to place a bid and then set your "max" bid with incremental bids going up some consistent amount. I know I am a cynical F-cuss but is anyone skeptical of putting out a max bid that the auction house can see? Has anyone put a max bid out there and bought the item BELOW the max bid they put in?

I am a jaded old man -- and get the hell off my lawn.

Ha!

So, here's my thoughts, having seen this plenty. If you throw out a "max" bid, the item should go to that straight away. By the house doing incremental bids, it let's people think that maybe they can get it for X, instead of Y, and drives the price above what it should probably sell for.

I'm not so worried about the House raising the price on their own, might happen, but look at other bidding sites, you can have a friend bid an item up if you're the seller...

But, people get caught up in the process, and forget buyer/seller fees/shipping/and possible FFL fees. So, yeah, you might spend more much more that an item's worth with the extras.

Max bidding should include the thought of these fees, to keep things in check.

 

[Tex .416]

Yes, I have bought items below the max I have entered.

I offer what it is worth to me. If I win, it is worth thst to me. If I do not win, it was not worth that to me and no reason for regret.

I have ovsrpaid with no regret for some things I really wanted, which were unique. Some things I balked and walked away, only to later change my mind and go back to buy, but they were gone. Those are the ones I really regret and remember.

At this point well past the halfway point in my life, I try focus on myself and not worry about others. Worrying about myself is plenty enough of a load to carry.

 

[Woodcarver]

Ha!

So, here's my thoughts, having seen this plenty. If you throw out a "max" bid, the item should go to that straight away. By the house doing incremental bids, it let's people think that maybe they can get it for X, instead of Y, and drives the price above what it should probably sell for.

I'm not so worried about the House raising the price on their own, might happen, but look at other bidding sites, you can have a friend bid an item up if you're the seller...

But, people get caught up in the process, and forget buyer/seller fees/shipping/and possible FFL fees. So, yeah, you might spend more much more that an item's worth with the extras.

Max bidding should include the thought of these fees, to keep things in check.

That isn't how an online auction works, or any auction that allows a proxy bid. Your max bid is activated if another buyer places a bid below your max, which then jumps the current bid up 1 increment above where they bid; you are still the leading bidder. Using that feature is the best method for someone who gets caught up in the "auction frenzy" and ends up spending well above what they wanted to, often well above the real value of the item being sold.
Just like @Tex .416 said, I have won the bid on numerous items below my max bid, and occasionally gone back in and raised my max if I decided it was worth more (to me) than my original bid.

 

[CraigV]

That isn't how an online auction works, or any auction that allows a proxy bid. Your max bid is activated if another buyer places a bid below your max, which then jumps the current bid up 1 increment above where they bid; you are still the leading bidder. Using that feature is the best method for someone who gets caught up in the "auction frenzy" and ends up spending well above what they wanted to, often well above the real value of the item being sold.
Just like @Tex .416 said, I have won the bid on numerous items below my max bid, and occasionally gone back in and raised my max if I decided it was worth more (to me) than my original bid.

Oh, I know. There are a few platforms that allow your max to be the new high, but they are few and far between. I know, most sites do not favor the bidder, but the seller.

Now, in person auctions allow an individual to blast out a bid that will cut out a lot of the noise.

The bottom line, which I think we all agree on is, have your price, and stick to it. Otherwise you can get sucked into the frenzy.

 

[RedTag]

So most auction houses will allow you to place a bid and then set your "max" bid with incremental bids going up some consistent amount. I know I am a cynical F-cuss but is anyone skeptical of putting out a max bid that the auction house can see? Has anyone put a max bid out there and bought the item BELOW the max bid they put in?

I am a jaded old man -- and get the hell off my lawn.

I don’t care for auctions, coming or going. I’ve bought and sold through auctions several times in the past and I’ve never been impressed or satisfied. These days I skip the auctions altogether. Even on gun broker, I skip all the “penny start” listings and go straight for the fixed price listings. I appreciate straight deals and honesty.

 

[coreydb]

I actually did that in an auction. It was for a well made, well used double barrel shotgun. No show, all go. I set my maximum bid at $110 and ended up getting the winning bid at $90. The shotgun was in much better condition than expected; it was just a plain jane. I now use that in vintage shotgun competitions.

 

[thi9elsp]

I've done it on eBay and antique furniture. Placed max bid and was winner at a price lower than my max bid.

 

[skydiver386]

I prefer "Buy Now" type auctions.

I HATE haggling.

I decide if it's worth it to me at the price being asked, and if it is I buy. If not I move on.