| ▲ | mort96 3 hours ago | ||||||||||||||||
The logic of "you shouldn't ever need to snipe, just bid your max price" only works if we assume that the max price is a red line though. If I "value something" at $5000 (as in I want to buy it at $5000), and I bid $5000, and someone bids $5000.01, I would probably be happy if I sniped them and got the item for $5000.02. | |||||||||||||||||
| ▲ | less_less 2 hours ago | parent | next [-] | ||||||||||||||||
I'm not defending "you shouldn't ever need to snipe, just bid your max price" as a hard principle, just trying to explain where the idea comes from. Sniping can be strategic for lots of reasons: you don't have to commit to a bid until the last second (in case you find a similar item for cheaper elsewhere), you deny other people information, you might avoid anxiety from wondering whether your bid will win, etc. That said, the max price is supposed to be a price where you are not especially happy to get the item at that price, but not really sad either, a price where you would say "well, I hoped for better but I guess that's a fair deal". That's not realistically pinned down to the cent. But if you set a max price at $5000 and would be happy to get the item at $5000.02 (for some reason other than satisfaction from sniping), then you set your max price wrong, or at least differently from how economists expect you to set it. | |||||||||||||||||
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| ▲ | 3 hours ago | parent | prev | next [-] | ||||||||||||||||
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| ▲ | imtringued 5 minutes ago | parent | prev [-] | ||||||||||||||||
By your logic, there is no such thing as a limit or maximum bid. It's like you don't understand the concept of a maximum. If you're always willing to add one more cent then that wasn't your maximum. | |||||||||||||||||