By Michael R. Miller
This booklet supplies excellent element. the guidelines and notes proven at the part of the pages are very worthwhile
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Additional info for Absolute Beginner's Guide to eBay
But if the 11th person had placed a higher bid$6, let's saythen that 11th bidder would be listed as the #1 bidder, and the last $5 bidder (chronologically) would be knocked from the list. All 10 winning bidders, howeverincluding the person who bid $6would have to pay only $5 for the item. ) 56 Part II: EBAY FOR BIDDERS Part II: EBAY FOR BIDDERS 57 In a Dutch auction, the minimum price ends up being raised only if enough bidders place bids above the minimum bid. In our example, if 9 bidders bid over the minimum, but the 10th bidder bid $5, all bidders would still pay $5.
If you get outbid, tough; the item wasn't worth that much, anyway! Mistake #4: Getting Caught Up in a Bidding Frenzy One reason that many items sell for too high a price is that it's easy to get caught up in a bidding frenzy. If an item is popular and several bidders are interested, you'll see the current bid price keep going up and up and up as each bidder tries to stay in the game. I know the feeling; when bidding starts to heat up, you don't want to lose. So you keep placing higher bids, trying to stay a few dollars ahead of the other biddersand end up bidding up the price way too high.
The problem with this is that as soon as that bid is entered, you've announced your intentions to other bidderswho might then react by placing even higher bids. So, right away, you've started a bidding warwhich you could lose. There's really no benefit to bidding early in a long auction. So what if you place your bid on day one of a seven-day auction? The only bid that really counts is the one that's in as the auction closes. Besides, when you bid early, the bidding price goes up faster. It's better to hold off and place a later bid, one that other bidders won't have as much time to respond to.