GL bid bump time change

[Suprman]

I was bidding tonite the close time was only getting bumped up 5 min instead of the usual 15 min. Something to watch if your not paying attention a listing could end before you realize it.

 

[FloridaAKM]

Wouldn't the 15 minute rule help them gather more bids, shortening the time only cuts out the bidders who aren't sitting @ a computer in the last minutes of the live auction!

 

[Suprman]

One would think so but the bids I placed tonite bumped the auction by 5 minutes

 

[gottaluvit]

With no sarcasm on my part whatsoever, can someone please explain the benefit in bidding at the last minute (especially with auctions such as GL & GP and Gunbroker, where the end time gets altered with last minute bids), vs. just bidding what you are willing to pay for an item. I mean, the auction sites (even ebay) auto bid for you. I am seriously confused in the methodology in this. My family and friends look at me like I am crazy when I ask this, but they never can give me a concise answer. Maybe you professional bidders can beat the answer in my hard head! I just bid the max on something that I am willing to pay for it. What am I missing?

 

[Monkeyboyarmy]

Got me too. I had my bid in at 1/4 till. Someone bumped it at 5 till and it closed at 5. Didn't get a chance to bid again. Maybe I'll just give up.

 

[FloridaAKM]

Look @ the bright side, you still have your money!

Got me too. I had my bid in at 1/4 till. Someone bumped it at 5 till and it closed at 5. Didn't get a chance to bid again. Maybe I'll just give up.

 

[Suprman]

I usually bid on 20 or so lots I will place a low bid on all and see how it goes. If theres something I really want I will go back and re-evaluate. Sometimes I want something but not all say 6 lots worth listed. If I high bid them all I would just end up driving the bid prices way up.

With no sarcasm on my part whatsoever, can someone please explain the benefit in bidding at the last minute (especially with auctions such as GL & GP and Gunbroker, where the end time gets altered with last minute bids), vs. just bidding what you are willing to pay for an item. I mean, the auction sites (even ebay) auto bid for you. I am seriously confused in the methodology in this. My family and friends look at me like I am crazy when I ask this, but they never can give me a concise answer. Maybe you professional bidders can beat the answer in my hard head! I just bid the max on something that I am willing to pay for it. What am I missing?

 

[gottaluvit]

I usually bid on 20 or so lots I will place a low bid on all and see how it goes. If theres something I really want I will go back and re-evaluate. Sometimes I want something but not all say 6 lots worth listed. If I high bid them all I would just end up driving the bid prices way up.

Ok. I see. Thank you. That indeed makes good sense.