Bidding on Online Auctions
Jermaine: Wait! You shouldn’t Bid on that Auction right now. Wait until the Last minute.
Bethany: This auction has a Buy-it-now price of $25 and free Shipping.
Jermaine: Don’t pay the buy-it-now price. The Minimum bid on this item is $10 and the Current bid is only $12.50. There’s no Reserve, so if you wait to bid, you may Snag it for a much lower price than $25.
Bethany: Okay, I guess I can wait, but why can’t I Place a bid of $15 right now?
Jermaine: First of all, the bidding on this auction goes up by Increments of 50-cents, so the next bid would be $13.00. You could place a Maximum bid of $15.00, but someone might Outbid you at any time.
Bethany: But couldn’t that happen anyway? Even if I wait until the last minute someone could Sneak in and bid a higher price.
Jermaine: You mean they could Snipe you? They could, but not if you snipe them back. It’s all in the Timing.
Bethany: You seem to know a lot about online auctions.
Jermaine: That item you’re bidding on, guess who Listed it?
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- Bidding on Online Auctions Jermaine: Wait! You shouldn’t Bid on that Auction right now. Wait until the Last minute. Bethany: This auction has a Buy-it-now price of $25 and free Shipping. Jermaine: Don’t pay the buy-it-now price. The Minimum bid on this item is $10 and the Current bid is only $12.50. There’s no Reserve, so if you wait […]...
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