Bidding and/or sniping if I'm the first bidder [UPDATED], I need this info ASAP please!

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Avatar wolfy 2 post(s)

Hi all!

I really need to know this ASAP

What if I snipe and I am still the first bidder with my snipe? Do I have to pay the full snipe amount?
Is it therefore necessary to make an initial minimum bid myself if there are no bids yet and I want to snipe later (just to be on the safe side)?

Will my own snipe after my own minimum bid lead to the situation that I have to buy for the sniped amount instead of my own minimal bid if no one else places a bid till the end? Or do I pay the minimum amount plus one increment step (0,50) as usual, i.e. am I sniping my own bid just like other people’s bids?

My other question, whether the snipe fires anyway if I’m the high bidder myself was already answered elsewhere in the forum.

Thanks a lot!

 
Avatar Morgan Schweers Administrator 1,204 post(s)

Greetings,

Yeah, I haven’t had time to answer stuff as much as I’d like lately.

What if I snipe and I am still the first bidder with my snipe? Do I have to pay the full snipe amount? Is it therefore necessary to make an initial minimum bid myself if there are no bids yet and I want to snipe later (just to be on the safe side)?

eBay is a ‘highest bidder, second price’ auction system. (This is known as a ‘Vickrey’ auction, after an economist who explored its attributes, but it’s not necessary to go into the deep background.)

What this means is that the highest bidder wins, at the price set by the second highest bidder. If nobody bids against you, you pay the minimum bid, or in the case of a reserve auction, the reserve if you bid over it. This is true no matter how many bids you actually placed. (Things are a little different in eBay’s so-called ‘Dutch’ auctions, but again, the complexity isn’t necessary here.) It’s also important to note that it’s highest bidder, and second highest bidder, not individual bids, that set the price and winner. (So if you bid against yourself 10 times, you’re still considered one bidder; the other bids set your hidden max, but in most cases won’t change the price.)

Will my own snipe after my own minimum bid lead to the situation that I have to buy for the sniped amount instead of my own minimal bid if no one else places a bid till the end? Or do I pay the minimum amount plus one increment step (0,50) as usual, i.e. am I sniping my own bid just like other people’s bids?

No, eBay considers bidding that you are merely upping your hidden max, and so will not change the actual amount you’re expected to pay. (There are exceptions in the case of ties, dutch auctions, and reserves that start getting into deeper complexities of eBay, but the vast majority of cases don’t need to know that complexity.)

My other question, whether the snipe fires anyway if I’m the high bidder myself was already answered elsewhere in the forum.

Yes, but you want it that way. Because JBidwatcher suffers (as all eBay users do) from imperfect information. It can only check the current bids at discrete points in time, so things can happen between those discrete points that it doesn’t know about and can’t know about.

In any case, the important thing to know is that on eBay, you generally (reserve & dutch being the exceptions) only pay about one minimum bid increment over the second highest unique bidder’s high bid.

For more information, you could take a look at this:
http://www.jbidwatcher.com/help/faq.shtml#ans30

Best of luck with your auctions!

— Morgan Schweers, CyberFOX!