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Ethics of last minute auction "poaching"

I was just involved in an auction that left a bad taste in my mouth. I had the high bid on an item for over 2 days and
literally in the last 60 seconds of auction a "poacher" came
out trying to sneak in a last minute bid in to win the auction. This caused the price to rise from $160 to $280 which I still won, but this seems underhanded to me. Attempting to win by last minute sneak attack! If you are interested in bidding on an item it seems common fairness to other members to come out in the open and not make your first bid with 60 seconds of auction ending! I know this is not outlawed, but ticks me off.....anyone else experience this?
128x128megasam
justlisten's avatar
justlisten
489 posts
 
I do not care for Audiogons policy of "Overtime" bidding. I believe it opens up the process for self bidding on auctions and in some cases forces the bidder to sit and watch the item if he or she really wants the product. I enjoy ebay's method where it has a set end time.
msnloeth
57 posts
 
Its the people who bid too early that inflate the price unessarily. Look at the bid histories on just about any auction that is started at a low number. Usually there will be numerous bids at clearly cannot win. If no one bid till the last minute, the final price would be lower and the buyer would get a better deal. I've watched items for days and by the time it is to end the price is so inflated there is no reason to bid. You don't get any points for bidding early unless its a Dutch auction. Wait and watch. You will win some and you will pay less.
msnloeth
57 posts
 
Sory about my speling.
blbloom
286 posts
 
Megasam, I disagree with you. As long as the rules of the auction are followed, all is fair. I believe in ethics when buying and selling, but an auction is a form of competition, and there is strategy involved. I think what is unethical is changing a deal once it is made. I have had this happen to me. After I made a deal, the seller backed out and told me he got a better offer. He asked if I would like to match it. I sold cables this week and while I was waiting for the deal to close, got a better offer. I would not back out.
usblues
1,217 posts
 
I agree with Blbloom,hard to separate capitalism and strategy.I also have had unusual experience at very end of auction,so i learned to pretty much shine those on.Stay high,keep low,its an interesting time to be in tune.
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