[Mccoypottery-talk] bidding strategy

[acp]

I have some questions about ebay bidding strategy.

For purposes of this lesson (you're teaching me), let's assume
fair market value for the item is $25-30 and it is a moderately
popular item.  It is not one of a kind.  As a matter of fact,
you see at least one or two auctions going for this item, at any
given time.    

Are you more likely to get the item you want, at a cheaper price,
if you --

1) Bid very early and put in a maximum bid of say $20  or

2) Bid early, bid about $5 and then increase your maximum
bid multiple times, when/if you see someone outbidding you.

In other words -- is an early, higher bid more likely to discourage
other potential bidders, permanently, early on???      Or, will they
just keep following the bidding and then jump in at the last minute,
anyway?

Do you understand what I'm saying??    

It would be easier for me to put in a maximum bid of $20 and then
check back at the end of the auction to see if I'm about to get the
item or not (and then bid higher at the last minute, if I want).
But if my chances of getting the item for less, depend on my
babysitting the auction and incrementing my max. bid by a few
dollars each time, I would rather do that.  ;-)

Or, is all this trying to work out a strategy, just pointless??  ;-)
Looking back to all my psych and marketing classes, I KNOW
there must be some commonalities, some conclusions which
can be drawn about bidding strategy.  It's a puzzle.

So, anyone willing to tackle it?  ;-)     Has anyone noticed how
it works??

:-)   acp
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