Re:Johann Wolfgang von Goethe, Amateur Auction Theorist
by contingencies on Friday June 03, 2016 @08:27PM
(#11834237)
No. Consider many similar items being sold at one time by one seller (common scenario). By bidding what you think "it's worth" up front, you announce to the competing bidders what you are willing to pay. You are much better off waiting until the last minute then bidding slightly higher than the current bid on every item.
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Re:Johann Wolfgang von Goethe, Amateur Auction Theorist
by usrusr on Friday June 03, 2016 @10:30PM
(#11834637)
You are not really announcing it, due to the second price nature of the eBay "bidding agent", but tough luck when two high price bidders happen to bid on the same copy. With multiple auctions, bidding becomes surprisingly tactical.
Re:Johann Wolfgang von Goethe, Amateur Auction Theorist
by contingencies on Friday June 03, 2016 @10:42PM
(#11834673)
It's trivial for them to see that you've auto-bid because of the increment and the speed at which a second bid is placed if they place one higher. So you are kind of announcing it. And on similar items, they can work one up to your limit, determine the limit, then return to best it on all the other items at the last minute.