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by remote_phone
1031 days ago
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I have extensive experience bidding on eBay auctions, I probably engaged in 10 auctions a month for several years in a row. The first few times I definitely encountered winners curse. But the real/only solution is having accurate price discovery and having a game plan. I will do research to find the current market value and bid in the bottom end of the range. If I miss it, the market is liquid enough such that I can try again and if i hit it, then I am happy because I got it for a low price. On items with lower liquidity and availability I still need to be patient and disciplined with my bidding. This is the only way to do online auction bidding. Oh and also sniping in the last 30 seconds. |
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I really don't know why eBay hasn't "solved" this.
In real world auctions, bidding continues until no one bids. This eliminates sniping as a tactic.
My favorite auction site was ubid.com, which had this policy. There always needed to be a 5 minute period of no bids for the auction to end. This way, you can comfortably tell the automated system your max bid and not worry about snipers.