If a Buyer places a bid, so high...

Question

a buyer places a maximum bid so high, that nobody is willing to go higher, can he secure a low price because he put his maximum so high. He scared off the bidders?

woodland_gnome · Answer

There is absolutely no logical reason to place a bid for more than you are willing and able to pay for the item. The notion that "nobody is willing to go" so high (the issue isn't that they will go higher, the problem is if they go lower than your nuclear bid but higher than your TRUE maximum you are willing and able to pay) has some flaws:

Another bidder with the same cunning plan.

Someone else typos.

Someone else has a special reason to value the item more than you do (e.g. need to replace lost gift from rich aunt before she visits; last item in a collection)

Shilling by the seller and "sport bidders" who deliberately run up the prices for other bidders without intending to win.

In my opinion becoming obligated to pay more for an item than you are willing and able to pay is not "winning."

eburtonlab · Answer

No one is scared to bid. Anyone can bid as long as the bid amount is higher than the current showing price by at least one bid increment.

Whoever bids highest wins, but they pay an amount greater than the second highest bidder's maximum bid.

As long as the current price is less than the maximum I am willing to pay, I can bid my maximum amount. If I am the high bidder I win and pay enough to beat the second highest bidder's amount; if I am not the highest bidder, the high bidder has to beat my maximum bid to win -- or bid the same amount, earlier.

gator08041971 · Answer

@working_8207

Its called nuclear bidding.

Other bidders can't see each other bids. They won't know what someone's high bid is. (that's kind of the point)

But nuclear bidders often are bad bidders too. In that they might place bid on several listings and then finalize with the one they get the best deal on.

But that means they often have bid retractions and such. You can review a bidder's bid history, by going to their feedback, clicking feedback as a buyer, and look at bid retractions. If they have a lot in a year, (more than 25) they are likely habitual and may do the same with your listing.