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The bid now jumps to $10.5, which is eBay’s bid increment for items with current bid price between $5 and $24.99. So what happens now? Does the current bid increase to $800? Does Jane have to pay $800 now? No, not at all. She knows that she can get that phone locally at $999, so she decides that the maximum she’s willing to spend to acquire it through eBay (and still save quite a bit on it) is $800. Rather than bidding $10.5, Jane will set her maximum bid at $800. So for instance, say there's a new smartphone retailing at $999 with the current highest bid being $10 by John. Rather than watching the auction and responding manually to competing bids, eBay actually allows you to set a maximum bid from the very beginning. Now that is called nibbling, we talked about it in the previous section above. So John bids $10, Jane bids $10.5, John bids $11…etc. They could be watching the auction at the very same time and upping their bids accordingly. Say we have two people bidding on an item, John and Jane. Let’s illustrate proxy bidding with an example. It’s there to ensure the ecosystem remains fair for everyone. Proxy bidding is actually a system placed by eBay to guarantee that the person willing to pay the most for an item wins the auction regardless of when they actually placed their bid. We’ll get into sniping in the next section but in this one, let’s focus on proxy bidding. In fact, my most recommended strategy is kind of a hybrid between proxy bidding and bid sniping. This would be my second recommended bidding strategy after sniping. When they see other people actively bidding and seemingly “fighting” over the item, they decided they want to get a piece of the action. The “social proof” gets people interested and excited in an item they may have otherwise ignored. On the other hand, people against the strategy argue that nibbling is a double-edged sword that may as well attract a lot of bidders due to the increased activity on the item. This increases your chances of winning the auction. People for this strategy argue that early “nibbling” activity in the auction by multiple bidders typically discourages a lot of non-serious bidders from jumping in because the auction looks intimidating and the price is going up fast early on in the auction (even though it’s still below market price, otherwise you wouldn’t continue bidding). Bid nibbling is basically watching the auction and increasing your bid occasionally, slightly above the highest current bid to remain the highest bidder. This is by far my least recommended strategy (though others may disagree) because it’s the most time consuming, nerve wrecking and it drives auction bidding prices up quickly. It’s worth noting, however, that it’s generally hard to find bargain-priced BIN items for auctions that allow it, mainly because BIN doesn’t really last long, so it may be a good idea to set up a saved eBay search that notifies you when new items matching your criteria appear so that you can jump in and hopefully claim them at BIN price before the auction starts. This skips the auction and awards you the item. Once the first bid is placed on the auction, the BIN price disappears and it’s no longer possible to buy using BIN.īIN is generally advantageous if you’ve spotted an interesting item and do not wish to engage in and wait for an auction to end, you must also be willing to pay the predetermined BIN price to the seller.
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Sellers may allow items to have a BIN price as an alternative to the auction. “But It Now”, also known as “BIN” is not a bidding strategy per se, as using “buy it now” circumvents the whole bidding process.
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Let’s first explore some of the most popular bidding strategies so that we'd be able to compare them to sniping.
FWINDOWS REEWARE EBAY SNIPER SOFTWARE SOFTWARE
A sniper works as an eBay bidding software that helps you win auctions by placing a high bid in the final moments of the auction.īefore we get into specific tool recommendations, we must first understand what auction sniping is, as well as the pros and cons of the practice. This post focuses on auction sniping and helps you find the best eBay sniper service that suits your needs. There are different forms and strategies when bidding on online auction sites though, each with their own pros and cons. The rush comes from the possibility of claiming the item at a bargain price and outbidding other competitors. Scouring your favorite auction websites and bidding on interesting items can be an addictive temptation.