I just noticed this thread on bidding on eBay and last minute bids. I did
not see it start. Perhaps I'm missing something. But, on eBay, I do not
see how anyone needs to worry about last minute bidding. You set your top
bid and the computer bids for you. If someone at the last minute outbids
your top bid, and you are upset, then either (1) you didn't set your top
bid as high as you really wanted to, or (2) you did set your bid as high as
you logically wanted to, but your hindsight emotions are telling you you
should have bid more. If it was #1, then it's your own dang fault. If it
was #2, then you should be glad you were not swept up in the moment and
spent more than you really should have.
For example, if there is this left handed King Dick wrench you just have to
have (Tiger content), and you put your bid down at $1,000,000, then nobody
is going to outbid you at the last minute. If you are willing to buy it at
up to $100, and you only bid $90, and someone outbids you at $95, then it's
your own fault for not bidding what you are willing to pay. If you think
it's worth $100 and you will pay up to $120, then put down $120 and you'll
have no regrets. The only thing I see about this last minute bidding is
that emotions are blinding people to the true value. If you are willing to
spend it, bid it.
Also, as to the comment on public reserves, yes, you can do that on eBay.
The seller can set the first bid price - which is basically a public
reserve.
Jay
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