Why do people pay more at auctions?
- Thread starter Balrog
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medalguy
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I used to sell a lot on evilbay and I found that quite often buyers would bid early on something, then get the idea in their minds that that item was theirs. Every time someone else would bid, they would come right back and raise the bid. By the time the item ended, it might sell for twice what it was really worth.
I think some people get possessive over items they bid on and get mad whenever someone else tries to take "their" item away from them. And so the bidding war starts.
To me, when I see something I want, I prefer to use a sniper program. I enter the highest price I'm willing to pay, and then forget about the auction. When it's over, if someone wanted it worse than I did, they own it. There'll usually be another one along shortly. And that way I don't have to worry about remembering to bid just before the auction ends at 2:30 Tuesday afternoon, or at 4:40 AM Thursday morning.
I think some people get possessive over items they bid on and get mad whenever someone else tries to take "their" item away from them. And so the bidding war starts.
To me, when I see something I want, I prefer to use a sniper program. I enter the highest price I'm willing to pay, and then forget about the auction. When it's over, if someone wanted it worse than I did, they own it. There'll usually be another one along shortly. And that way I don't have to worry about remembering to bid just before the auction ends at 2:30 Tuesday afternoon, or at 4:40 AM Thursday morning.
22-rimfire
Member
I think there are a number of reasons for the final pricing.
Competition compounds the bidding because you may have set a max price for yourself, but somebody else's max is apparently a lot higher, but you still want to win the auction or buy the firearm. You essentially talk yourself into... would $20 or $50 make a difference to me?
Some people feel that if others are bidding on something, it must be worth the price. They probably don't watch the market much. Kind of like some of the off the wall high posted prices at some gunshops....
If it is an expensive collector piece... would $100 or even $500 make a long term difference for me? Rarity? Can I find another one at this price? Do I want to wait?
On another fourm, there was a posting on a 2.5" Colt Diamondback 22 in apparent NIB condition listed on GB. This is a very uncommon gun. Some would say "rare". The starting bid was fairly high and the buy it now price was even higher.... I watch these particular kinds of auctions more closely because they often define the upper end of the market. I believe the price is going up on these particular guns and the final sale price is of a lot of interest to me. Did I have the urge to bid? Yeah, but I couldn't afford it and hence did not. I wouldn't have paid the minimum bid price today. But a year or two years from now, the pricing probably reflects the market.
As always, it depends on the gun. Maybe you don't understand the market on this particular used gun or maybe it is just a crazy price something hopes they can sell it for.
Competition compounds the bidding because you may have set a max price for yourself, but somebody else's max is apparently a lot higher, but you still want to win the auction or buy the firearm. You essentially talk yourself into... would $20 or $50 make a difference to me?
Some people feel that if others are bidding on something, it must be worth the price. They probably don't watch the market much. Kind of like some of the off the wall high posted prices at some gunshops....
If it is an expensive collector piece... would $100 or even $500 make a long term difference for me? Rarity? Can I find another one at this price? Do I want to wait?
On another fourm, there was a posting on a 2.5" Colt Diamondback 22 in apparent NIB condition listed on GB. This is a very uncommon gun. Some would say "rare". The starting bid was fairly high and the buy it now price was even higher.... I watch these particular kinds of auctions more closely because they often define the upper end of the market. I believe the price is going up on these particular guns and the final sale price is of a lot of interest to me. Did I have the urge to bid? Yeah, but I couldn't afford it and hence did not. I wouldn't have paid the minimum bid price today. But a year or two years from now, the pricing probably reflects the market.
As always, it depends on the gun. Maybe you don't understand the market on this particular used gun or maybe it is just a crazy price something hopes they can sell it for.
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