OK, I gotta blow off some steam here. When a major retailer discount items on auction sites like Ebay, and keep listing items over and over at the much discounted price, why do people keep bidding up the price to the retail price or even over the retail price.
Complaint
- Thread starter hp246
- Start date
BrokewrenchLS1
Well-known member
They get into the competitive, "I gotta win this one!" mode.
Same reason a lot of people on Slickdeals will buy the most asinine ****, as long as it's "a good deal". Never going to use it? Doesn't matter - it was 60% off!
Same reason a lot of people on Slickdeals will buy the most asinine ****, as long as it's "a good deal". Never going to use it? Doesn't matter - it was 60% off!
jim2664258
Well-known member
- Joined
- Aug 3, 2011
- Messages
- 411
You know the answer. People are idiots. Bidding at any point less than 5 minutes before it ends doesn't make any sense, unless you want the seller to make more money. Funny how no one seems to grasp this. ebay is a seller's paradise because of people that can barely tie their shoes.
I tend to stick to the 7-10 second snipe, but yeah, bidding on something a week before it ends is crazy. I've had stuff I'm selling double in the price in the last 30 seconds or so.
Shipfittin
Well-known member
What was it last week that people were talking about the guy on eBay with the Caterpillar (Snap On) ratcheting screwdriver. You know someone paid $100 for it, no question. And the fellas were saying you can get it at the Cat dealer for $50.
Never heard of it. Is there another fee to use it?
BQuicksilver
Well-known member
- Joined
- Aug 25, 2006
- Messages
- 560
Supply and Demand.
theoldwizard1
Well-known member
Like the song says ...
"God is great
Beer is good,
and people are crazy !"
"God is great
Beer is good,
and people are crazy !"
esnipe used to be 25 cents or something, not sure on the others, could be ad supported.
Straightgrain
Well-known member
I list things on e-bay and have a pretty good idea of what the going rate is for my stuff. On more than one occassion, I'll post a Buy it Now price that ends up being less than the final price.
Sometimes I think it's just wishful thinking on the buyer's part. They hope to get it for less, but don't realize until the very end that they're going to have to pay more for it than they had planned. The "rush" of the auction causes them doing things they wouldn't ordinarily do.
Sometimes I think it's just wishful thinking on the buyer's part. They hope to get it for less, but don't realize until the very end that they're going to have to pay more for it than they had planned. The "rush" of the auction causes them doing things they wouldn't ordinarily do.
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earlthegoat2
Well-known member
I guess I dont grasp this. I dont do it often but I have no qualms about it. Put in my low ball bottom feeder bid when there are a few days left and forget about until the auction ends. I like the lazy way. Dont win much. Dont spend much money at it either. Scored some GREAT deals though. And with very little time or effort for it. YMAV.
Rural53
Well-known member
Not always true. I drunk bid on a mig welder on a Saturday night and won the auction that closed the following Thursday. Didn't even remember bidding on it until I got the email sayng I'd won the auction.
Good welder and cheap too.
Justanoldguy
Well-known member
I often put in a bid as soon as I see it.
It's an easy way to get it on my watchlist.
I don't bid again till the end though if I need to.
It's an easy way to get it on my watchlist.
I don't bid again till the end though if I need to.
slipjointed
Well-known member
- Joined
- May 31, 2011
- Messages
- 665
Because they're drooling ignoramuses, barely able to tie their own shoes let alone venture on to the interwebs and find success there.
I'm sure that in between bidding items beyond retail value, they're busy clicking on pop-ups and loading as much malware as humanly possible on their systems, so they can later beg their 7 year old nephew, "Billy, can you please fix my new computer, it's broken and I don't know why, I just bought it from the home shopping channel last month".
earlthegoat2
Well-known member
Placing bids early also makes it so I know the item will not sell for any less than what I am willing to pay. I know this pisses off people who wait til the end because then it has already been bid up to the point of what one person and probably more than one are willing to pay. This makes the price jump pretty hugh usually.
Oh, darn, its not a great deal anymore. Just like everything else on the bay. On ebay since I dont know anyone else who I am bidding against I will sometimes put in bids that I dont even think will be high enough to take the lead just so I feel better about the item not going for the bottom feeder price I wanted it at. I know it benefits the sellers and in an impossible way I hope that it lessens my competition in the future.
Oh, darn, its not a great deal anymore. Just like everything else on the bay. On ebay since I dont know anyone else who I am bidding against I will sometimes put in bids that I dont even think will be high enough to take the lead just so I feel better about the item not going for the bottom feeder price I wanted it at. I know it benefits the sellers and in an impossible way I hope that it lessens my competition in the future.
MrSnicks
Well-known member
Also applies to Costco/Sams Club.
No, we don't need 200 fruit roll-ups.
We're almost out of the 200 count fruit snacks box. And there's only 3 of us in the house
Patrick
There is one great reason to bid early: When there are no bids, it prevents the seller from taking the auction down. Once there is a bid, they have to sell it.
With old and vintage stuff, there will sometimes be a great starting price and often the items will sell low. So bidding a week out doesn't matter much. If I snipe I also feel it's fair to be a part of the auction earlier just so everyone knows the players. Anyway, minimum bid, if at all, until the last 30 secs.
byoungblood
Well-known member
That has become my strategy as well. If I don't win, oh well. Occasionally this results in me getting outbid by a few cents, but I bid what I felt it was worth and if some idiot wants to pay more than that, more power to 'em.
As a seller, I welcome the idiots. I owned a Mamiya 645 setup a few years ago and sold off one of the less desirable metering prisms for it. In its condition, it was selling at most of the used camera equipment places for $30-40 tops. A couple of people got into a bidding war during the last couple of hours and it ended up selling for $120!
I'm going to bore some of you with intellectual prattle here but others may have an interest in this. What these "idiots" are doing is explained in economics by the concept of "consumer surplus" and the wikipedia entry is here.
In a nutshell, the amount over the "market" price that someone saves in excess of the market price is called the consumer surplus. Basically, if you are willing to pay $100 for something but get it for $75 the savings or consumer surplus is $25. That is the amount that you "save" by paying less than what you are really willing to pay.
These "idiots" are simply paying their consumer surplus to the seller.
Ever sit on a plane next to someone who paid $1000 for the same seat you paid $150 for? Chances are, the guy next to you is a business traveler and wants an unrestricted ticket on short notice without a Saturday stay over. You are willing to deal with the restrictions so your consumer surplus on your ticket is $850. Airline ticket pricing models are the poster child for gathering up the consumer surplus.
I hope this helps explain some of the seemingly ridiculous behavior.
In a nutshell, the amount over the "market" price that someone saves in excess of the market price is called the consumer surplus. Basically, if you are willing to pay $100 for something but get it for $75 the savings or consumer surplus is $25. That is the amount that you "save" by paying less than what you are really willing to pay.
These "idiots" are simply paying their consumer surplus to the seller.
Ever sit on a plane next to someone who paid $1000 for the same seat you paid $150 for? Chances are, the guy next to you is a business traveler and wants an unrestricted ticket on short notice without a Saturday stay over. You are willing to deal with the restrictions so your consumer surplus on your ticket is $850. Airline ticket pricing models are the poster child for gathering up the consumer surplus.
I hope this helps explain some of the seemingly ridiculous behavior.
Fee list is here.
Someone turned me on to it here and I've been a loyal user ever since. I never place bids on ebay anymore.
Here is some of my recent activity successful:
Greenlee Lot # 2 $75.00 $51.00 1 09/11/2011 17:51:00 51
New Proto Tools Chrome 1/2 Drive Standard Ratchet $23.00 $19.00 1 09/05/2011 17:17:14 25
Thomas & Betts ERG299 Cable Tie Wrap Installation Tool $58.00 $51.00 1 08/28/2011 17:57:06 51
Greenlee Needle Nose and Side Cutting Pliers NEW $23.00 $18.73 1 08/28/2011 16:45:09 25
klein tools 12" - 10" - 8" ADJ wrench $56.00 $46.00 1 08/26/2011 06:44:57 46
Klein 25ft Steel Tape,High-Visibility 190567488556 $7.00 $2.00 1 08/25/2011 15:20:17 25
5 Blades Fein Multimaster Bosch SECCO Multitool BiMetal $8.00 $5.51 1 08/24/2011 21:59:59 25
Klein Tools #9 Step Bit 1/4-1 3/8" 270803681884 $14.76 $14.16 1 08/23/2011 07:58:25 25
Greenlee Assortment OF Hand Tools 290599698008 $80.00 $49.00 1 08/21/2011 14:45:26 49
Blade Kit Fein Multimaster Bosch SECCO Multi Tool AB $19.00 $18.51 1 07/27/2011 10:51:58 25
Blade Kit Fein Multimaster Bosch SECCO Multi Tool BR $19.00 $13.50 1 07/27/2011 10:48:06 25
PROTO WIRE TWISTING PLIERS $33.00 $29.99 1 07/19/2011 17:09:04 29
Your total BidPoints Owed: 1,231
Your total BidPoints Purchased: 2,000
Your current Balance of BidPoints Remaining: 769
BidPoints are a penny. I bought $20 worth and used $12.31. You can see my savings by subtracting the second dollar amount from the first. I got a new (older model) Klein 25' tape measure for $2 plus fair shipping. I was willing to pay $7+shipping but got it for $2+shipping. It showed up and is exactly what I expected. I got a used Proto wire twisting plier for $29.99+shipping. Cost at Grainger is around $100 depending on the model. I was willing to pay $33+shipping.
Basically, I scan e-mail alert searches every morning, input my max price and forget about it. It takes me a few minutes to do this every morning and I'm often pleasantly surprised when the "you won" message shows up in my mailbox.
Like many others here, buying tools is my crack addiction. I can't stop and I'm not willing to seek help. esnipe allows me to wait out the crack dealers and pay bargain basement prices for my drugs, instead of paying top dollar because I'm strung out and desperate. It's really like methadone. I'm able to handle my addiction and lead a normal life otherwise.
Someone turned me on to it here and I've been a loyal user ever since. I never place bids on ebay anymore.
Here is some of my recent activity successful:
Greenlee Lot # 2 $75.00 $51.00 1 09/11/2011 17:51:00 51
New Proto Tools Chrome 1/2 Drive Standard Ratchet $23.00 $19.00 1 09/05/2011 17:17:14 25
Thomas & Betts ERG299 Cable Tie Wrap Installation Tool $58.00 $51.00 1 08/28/2011 17:57:06 51
Greenlee Needle Nose and Side Cutting Pliers NEW $23.00 $18.73 1 08/28/2011 16:45:09 25
klein tools 12" - 10" - 8" ADJ wrench $56.00 $46.00 1 08/26/2011 06:44:57 46
Klein 25ft Steel Tape,High-Visibility 190567488556 $7.00 $2.00 1 08/25/2011 15:20:17 25
5 Blades Fein Multimaster Bosch SECCO Multitool BiMetal $8.00 $5.51 1 08/24/2011 21:59:59 25
Klein Tools #9 Step Bit 1/4-1 3/8" 270803681884 $14.76 $14.16 1 08/23/2011 07:58:25 25
Greenlee Assortment OF Hand Tools 290599698008 $80.00 $49.00 1 08/21/2011 14:45:26 49
Blade Kit Fein Multimaster Bosch SECCO Multi Tool AB $19.00 $18.51 1 07/27/2011 10:51:58 25
Blade Kit Fein Multimaster Bosch SECCO Multi Tool BR $19.00 $13.50 1 07/27/2011 10:48:06 25
PROTO WIRE TWISTING PLIERS $33.00 $29.99 1 07/19/2011 17:09:04 29
Your total BidPoints Owed: 1,231
Your total BidPoints Purchased: 2,000
Your current Balance of BidPoints Remaining: 769
BidPoints are a penny. I bought $20 worth and used $12.31. You can see my savings by subtracting the second dollar amount from the first. I got a new (older model) Klein 25' tape measure for $2 plus fair shipping. I was willing to pay $7+shipping but got it for $2+shipping. It showed up and is exactly what I expected. I got a used Proto wire twisting plier for $29.99+shipping. Cost at Grainger is around $100 depending on the model. I was willing to pay $33+shipping.
Basically, I scan e-mail alert searches every morning, input my max price and forget about it. It takes me a few minutes to do this every morning and I'm often pleasantly surprised when the "you won" message shows up in my mailbox.
Like many others here, buying tools is my crack addiction. I can't stop and I'm not willing to seek help. esnipe allows me to wait out the crack dealers and pay bargain basement prices for my drugs, instead of paying top dollar because I'm strung out and desperate. It's really like methadone. I'm able to handle my addiction and lead a normal life otherwise.
Justanoldguy
Well-known member
Paying over the retail price is common for those who don't have easy access to a retail outlet.
Time/travel distance/fuel/stress (carting 3 screaming kids with you) etc all contribute to the cost of retail shopping.
Buying at a higher price online and getting it dropped at your doorstep is often the best deal.
So, in saying that, who really is the idiot??
Time/travel distance/fuel/stress (carting 3 screaming kids with you) etc all contribute to the cost of retail shopping.
Buying at a higher price online and getting it dropped at your doorstep is often the best deal.
So, in saying that, who really is the idiot??