Why do people up on their own bid? More than once?
I can only think of a couple of reasons.
- They don’t understand how eBay’s bidding works. They want the price to go up as soon as they enter a higher bid. When they don’t see it go up, they think something went wrong and enter an even higher bid.
- They keep changing their minds and enter higher bids in a misguided attempt to ensure they win.
I’ve been watching people bid on iPhones for a couple of weeks now. The vast majority of people submit a bid that is the minimum step up from the current bid. If the previous bidder had used the system correctly and submitted their maximum bid, this incremental bidder would go one step at a time every 10-15 seconds (and being instantly outbid) until they were at the top of the heap. It’s like they just want to see their name as the high bidder for a while.
Of course, all that fine curation of the highest bid goes out the window in the last 30 seconds of an auction, when the big guns roll into town.
Why does anyone bid before the last minute?
I guess they don’t think about the mechanism of how the bidding works. Also, it’s in eBay’s best interest for people to bid throughout the length of the auction. That way, the final price is pumped up and their cut of the sale is higher. So there are little encouragements throughout the site to get people to bid early, bid often.
For example, there is a blue bar across the top of that auction that says “It is ending soon, so bid now before you miss out!" I also get emails about items in my watch list "ending soon!" which are actually over in six hours or more.
I have an AT&T 4S I will happily sell you for way less than that.
Thanks for the offer! That would be awesome, but I’m looking for a Sprint phone to use on Ting.
If you want to learn what someone fears losing, watch what they photograph.