[pure-silver] Re: buying photo stuff on ebay

On Friday 25 May 2007 11:05, Edward C. Zimmermann wrote:

>
> This is not always the case. Since its not a working market by bidding
> early and showing interest many potential bidders will go elsewhere looking
> for that "deal". Snipping can often be the wrong approach as they tend


        The opposite tends to happen more often. If somebody bids others now 
believe 
the item has value. If nobody bids many lacking any idea of value won't bid. 
I've routinely won auctions in the past when almost nobody bid. OTOH at the 
same time bidding frenzies would be going on for the exact same item in 
different auctions.


> to be based less on the "willingness to pay" but on an "unwillingness to
> lose" in the uncertainty of other's bidding. Bidding early and pushing the
> price above an ideal target can often drive potential bidders away. Its the
> psychology of competition.

        Or it convinces people the item is worth at least what you've bid.

        
http://hbswk.hbs.edu/item/4662.html

        I'm too lazy to find the actual study.

        Nick
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