Ebay strategies?

Started 2 months ago | Discussions thread
threw the lens
threw the lens Senior Member • Posts: 1,321
Re: Ebay strategies?

Setting an 'auction' with a start price of not far from the market vallue is actually a good way to make sure the item doesn't sell.

The reason is a lot of people are surfing for bargains and know they won't get one, and pass on by.

The people who bid on items with no reserve often get no bargain either. Here's why:

The psychology of it seems to be that people get focused on one item and that auction date and it ties them up for a while, and they end up raising their bid due to the time they have invested in it. And in the end they end up paying a completely average market value.

There are lots of psychological studies on pigeons and other animals overvaluing the time they've already put in trying to obtain something and they stick to one place when they would statistically do better to switch. Researchers found the same thing happens with humans.

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Bob
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