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Used EM-5 went for $460, I Bid $400

Discussion in 'Olympus Cameras' started by tjdean01, Dec 15, 2013.

  1. tjdean01

    tjdean01 Mu-43 Top Veteran

    842
    Feb 20, 2013
    This happens to me 80% of the time I bid on Ebay. So, all the EM-5s are going for about $600. I pick ONE and pop a $400 bid down. How come the one *I* bid on only goes for $460? Had I known that it would have gone that low I would have bid higher. When I bid $400 I wasn't actually expecting to win it! It's amazing how sooooo frequently when I bid on ebay there is only ONE other guy bidding. Never two, just me and him. And every time I lose a bid, it's only by a small margin; and the other guy always gets a deal. We were talking about this in another thread and in all honesty, I think the EM-5 did NOT sell for $460. I think the seller has two accounts and is up to some funny business. And I think a lot of ebay sellers do the same. If I had $510 I guarantee someone would have bid $550.

    Believe it or not, however, I learned how to not get upset by things like this by dealing with GFs. You ever get in a fight with a girl you're dating and then you reach the point where you either A) be nice or B) tell her to screw off? And EVERY SINGLE TIME you tell a girl to screw off she's like, "Well, I WAS going to try to make it work with you until you told me to screw off." Well, that statement is a lie! They just use that as a reason to make you feel worse. And that's how I feel about Ebay. Even if you do bid higher, you're still not going to get what you want!
     
  2. robbie36

    robbie36 Mu-43 All-Pro

    Sep 25, 2010
    Bangkok
    rob collins
    Can I ask why you bid US$400 for the camera if you already knew you werent going to win. I dont bid for stuff on ebay so I dont understand the strategies.
     
  3. tjdean01

    tjdean01 Mu-43 Top Veteran

    842
    Feb 20, 2013
    Because if I happened to win it for $400 I'd be ecstatic!
     
  4. robbie36

    robbie36 Mu-43 All-Pro

    Sep 25, 2010
    Bangkok
    rob collins
    Oh I see - rather like asking Kate Moss out for a date.
     
    • Like Like x 6
  5. RichardB

    RichardB Snapshooter

    441
    Nov 19, 2012
    Maryland, US
    Richard
    There's another thread going about ebay strategies. You need to snipe, enter your best bid at the last possible moment, or use a service like esnipe.com to do it for you. If you'd be happy paying $500 for an E-M5, bid that much, and ebay will only use as much of your bid as is necessary to win. You'll be happy if you win, and you won't feel bad if someone else gets it for a higher amount than you were willing to pay.
     
    • Like Like x 3
  6. Jeff1:1

    Jeff1:1 Mu-43 Regular

    70
    Dec 2, 2013
    Chicago
    From the $60 difference it doesn't seem like auto-bid. Maybe seller or someone was waiting for last few seconds and just put $460. I always wonder if the low price stuff is too good to be true anyway. Fwiw, Amazon has a few used ones in $525-625 range.
     
  7. kurt1968

    kurt1968 Mu-43 Regular

    109
    Oct 30, 2012
    re

    i don't fancy Kate Moss.
    Placing a stink bid MIGHT work , so why not.
    Unbelievable at what low prices camerastuff is sold lately.
    Crisis has just begun , so keep some cash for goodies.
     
  8. Ricoh

    Ricoh Mu-43 Top Veteran

    906
    Nov 2, 2013
    UK
    Steve
    I'm a novice with eBay, but the strategy that works for me: Decide how much you think the item is worth and place a proxy bid as late as possible in the bid process, e.g. last 5 seconds.
    Don't use whole numbers, if you had bid $460.89 you might have won.
    Research the person selling and pay promptly to maintain a good ebay record.
     
    • Like Like x 1
  9. carpandean

    carpandean Mu-43 Top Veteran

    827
    Oct 29, 2010
    Western NY
    If you bid $400 and it went for $460, then there weren't only two bidders (unless someone set the bid increments at $60, which I'm not even sure is possible.) Somebody other than the winner bid $460 (or, say, $450, if they bid first and bid increments were $10) and the winner bid something over $460. If there really is only one other bidder in an auction, then the winner (if it's not you) will pay your highest bid (if they bid first) or your bid plus the increment of the auction (if you bid first.) That's why somebody else wins by a small margin. If you bid $500 on something, then someone else bids $1000, then they will win if for $505 (assuming $5 bid increments.) They get it for the minimum amount to outbid you.
     
    • Like Like x 2
  10. oly18

    oly18 Mu-43 Regular

    47
    Oct 21, 2011
    I was going to say something similar to carpandean. Just because it sold for $460 doesn't mean you would have got it for that much. The winner could have bid up to any amount (ex. $800). You still would have lost if your bid was lower. He or she just would have had to pay more.
     
  11. usayit

    usayit Mu-43 Hall of Famer

    Therein lies the problem... Your maximum bid was then $460+ not $400.
     
  12. usayit

    usayit Mu-43 Hall of Famer

    You do realize that even if your MAX bid was $1000 and the auction didn't get bid past $400, you would have still won the camera for $400 right?

    And as someone already pointed out, the person who won the camera for $460 could have very well placed in a MAX bid of $800 (or even more). Its simply no one was bidding it up to challenge his position. Thus he gets the camera for $460 (not his max bid of $800). In that case, your max bid of $460 would not have won anyways. No other parties (seller or other bidders) are ever notified what the MAX bid of the person.

    I think there is a misunderstanding of the ebay bidding process. Always take the time to really think about your max bid and place your true max bid (not a penny more). Ebay is NOT your common form of "English" auction that many are all familiar with.
     
  13. bigal1000

    bigal1000 Mu-43 Veteran

    337
    Sep 10, 2010
    New Hampshire
    Bid what you want to pay if you get it great. It's not brain surgery !! By the way Ebay and Paypal both blow!!!!!
     
    • Like Like x 1
  14. doch4m

    doch4m New to Mu-43

    2
    Dec 14, 2013
    Westminster, MD
    Doug
    I've been on the lookout for an E-LP5, but if I found an E-M5 for that price I'd take it.

    Doug
     
  15. db96

    db96 Mu-43 Regular

    145
    Jun 10, 2012
    Central Indiana
    I have found that it doesn't really matter what you bid on eBay because it is currently set up to protect buyers, so bid away. You don't really have to pay.

    I sell just a little on eBay, items we are upgrading mostly. Of less than ten auctions this year, I have had 2 buyers say,"oh, my son bid on that and he doesn't have the money. Would you cancel the deal?" The only quick recourse to get the fees back and try and sell again is to go ahead and let the seller out of the deal. But what really irks me is that you cannot leave negative feedback for the buyer.

    So in theory, bid $500 more than you are willing to pay and you will be covered if it goes cheap. If not, just back out. (Can you tell I am bitter?)
     
  16. mievil

    mievil Mu-43 Regular

    190
    May 17, 2013
    San Diego
    I buy on another auction site that does a 15 minute rule. If anyone bids in the last 15 minutes, it makes the new countdown time 15 minutes. Regardless of when the latest bid was put in. In other words, if someone bids with 1 second left and it gets high bid, 15 minutes are now on the clock. I actually really, really prefer this to eBay's model. eBay always forces you to get all wigged out in the last 3 minutes of the thing and wonder what people would do in the last 10 seconds of the auction. I have no idea why there is a 7 day auction on a site where all the action happens in the last 10 seconds.
     
  17. RichardB

    RichardB Snapshooter

    441
    Nov 19, 2012
    Maryland, US
    Richard
    That's why I think a service like esnipe.com is the best way to buy on ebay. It's essentially a sealed-bid system, wherein all the bids are opened in the last five seconds of the auction.

    What is the site with the 15 minute rule? That sounds interesting, and probably better for sellers.


     
  18. mievil

    mievil Mu-43 Regular

    190
    May 17, 2013
    San Diego
    It;s not camera related. But it does work out very well for sellers.
     
  19. zensu

    zensu An Old Fool

    Aug 8, 2012
    Southeastern USA
    Bobby
    I've a friend who is an ebay fan and when he bids on an item ebay pops up on his tablet to let him know instantly when someone has bid against him. I don't know much about ebay but maybe they have settings you could customize to your wants/needs?
     
  20. madogvelkor

    madogvelkor Mu-43 Top Veteran

    937
    Feb 22, 2013
    Connecticut
    The 7 days is to give people time to find the listing. Ideally you want a lot of people watching the auction. Most of the action will happen right at the end.

    If you're a buyer, you want to bid the absolute max you'll pay in the last 10 seconds. If you are lucky other bidders won't make up their mind in time and out bid you.

    If you're buying, you really want to look for lots that contain something you want. Then sell off the things you don't. You'll usually end up paying much less for the item you wanted than if you bought it alone. More work for you though.