Why bid early?

[nikoniko]

I know a lot of people hate snipers who sneak in the winning bid at the last second, but I can at least understand sniping. I've even done it myself when I really, really wanted something. (Not using a service, but simply bidding in the last 20-30 seconds.) One thing I've never understood, however, is the opposite extreme: bidding way before the auction is due to end. Why do people bother when there's still days to go? All they accomplish is driving up the price needlessly, and on any item where a number of people are interested, the first bidders usually give up way before anyone else and don't win the item anyway.

Are these early bidders...

Clueless about auction strategy?
Hopelessly optimistic that their bid will hold to the end?
Sadistic types that figure that if they don't win, at least they'll make the winner pay more?
Sellers secretly shilling?

What made me wonder about this is the recent link to the C128 "NIB". Nearly 8 days left, and already four people have bid it over $100. What's the point?

[hydrophilic]

Probably 1 but maybe 2.  I sometimes bid on stuff that has a low price / good value.  And on rare occassions I actually win.  Always nice to get a bargain.  So if you do this a lot, I guess you could get a lot of bargains?  Obviously this is opposite to your example of $100 for a C128.

I'd like to think 3 and 4 don't happen too often but who knows?  I guess if the bidders know each other #3 is more likely.  Or maybe more likely if they DON'T know each other?  Hmmm.  I wonder if I could get a grant for a psychological study on #3?

[nikoniko]

I guess if you bid on something that isn't likely to appeal or be noticed by many people, there's a decent possibility of winning, and you'd save yourself the trouble of coming back to bid later. Could also be kind of fun, perhaps, like playing a game of chance. You know you probably won't win most of the time, but you could get lucky.

The reason I even suggested #3 is that I remember someone who lost an auction to Worldlam taking consolation in knowing he made Worldlam pay more for it than he might have had to otherwise.

I doubt #4 occurs much in the Commodore auctions, but I once bought a non-Commodore computer item from a seller who was later banned for shilling, so I know it can happen.

[airship]

I've got to admit indulging in a bit of schadenfreude myself when someone outbids me on something I really want.

[Guest]

I once found something on Ebay I wanted and it had 6 days until the end of the auction. I thought I had plenty of time, I don't like to bid early either. After three days and no bids, the seller pulled it. If it's something you really want you should bid something just to keep it from being removed.

Dan...

[Mangelore]

I once found something on Ebay I wanted and it had 6 days until the end of the auction. I thought I had plenty of time, I don't like to bid early either. After three days and no bids, the seller pulled it. If it's something you really want you should bid something just to keep it from being removed.

Dan...

Yes, I've had this happen to me. I've also had sellers end an item early and award it to highest bidder at the time.

[Golan Klinger]

If you want something and it has a Buy It Now that you feel is too high, a minimum bid can make the BIN go away so someone else won't buy it out from underneath you. Of course, if the bids go higher than the BIN, you're pooched.