Is Graeme Going To Win The Auction?

[Foley]

http://forums.seloc.org/auction/displayite...item=1089816991

 

He was the highest bidder for a while but was outbid this morning

 

Hope you win it Graeme. Be good to see you flying round Mallory with all those extra horses

 

ps Can I have a pax lap pls?

[Fiona]

Hope you've told the wife

[Scott_Mac]

He's losing again now...

 

But scary stuff if he does, he's hard enough to keep up with as it is!

[GCCK]

No I haven't told SWMBO... The PTP170 auction closes at Midnight tonight.

 

This auction thing is new to me. It's a bit keen isn't it? I was bidding on the ultra-light flywheel and was leading with a minute to go. Two bids were posted in the last 20s. I was ready to respond but with what I thought was 2 seconds to go, the page came back auction closed. (No, she didn't know about that one either).

 

Can anyone provide some advice:

- what is the typical time lag on a bid?

- if I'm trying to be in at the last, how late should I leave it?

- how does the auto-proxy bid thing work?

 

ta

Graeme

[enxrjm]

If its anything like ebay I usually wait until the last 20 seconds then put in my max bid plus a tiny bit (if my max was £50, put in £51.10) If the autobid is the same as ebay it will then bid for you automatically in small increments up to your maximum, so you may get it for £46 instead of £50 if someone else has a max bid of £45.

 

Good luck

[Scott_Mac]

Yeah, proxy bid.. you put your max amount in (say £3000), the bid will remian at the smallest amount required to win the auction.

 

So if you are winning at £2500 and someone bids £2600, it will change bid too £2610 (increment is going to be £10 in an auction of that amount) with you as high bidder... you will always lead until someone bids greater than you, i.e. £3010

 

So bid what you are prepared to pay and maybe add 5% to that, just in case, for the "i'd kick myself if i missed it by x amount" factor.

 

I would normally bid in the last 20 seconds too - dependant on connection speed, but with fast Cable like what i have you can leave it longer.

 

At the end of the day, work out its value, work out what you are prepared to pay, add a small amount and leave it. Just be prepared to do this in the last minute... though with an item like that, i don't think there is going to be a masive rush as £2500 ain't pocket change - well to most of us anyway!

 

Good luck though mate.. pencil me in for a blast when its done

[Steve J]

Surely you also need to add in the amount your insurance is going to leap when you tell them.

 

Or are you not going to tell them either

[Scott_Mac]

Eggar Lawson wouldn't increase my premium if i got one!

 

Anyway, Graeme's old, he probably only pays £10 for his insurance

[strees]

[Ladders]

heh!

[GCCK]

Nope!

 

Went to my max (and stuck to it) and someone still beat it - just.

 

Will find it easier to afford next year, even at the full price, once SWMBO is earning a living again! Also gives me more time to look at the DVA alternatives again. Shame though...

 

Graeme

[Scott_Mac]

Yeah, spotted that. Lost out by £62!

 

Never mind mate... despite having your strategy sorted and everything

[GCCK]

Actually it was £12.

 

Doh!

[emmajaneb]

Better luck next time Graeme.

[Scott_Mac]

LOL, i did tell you to allow for the "bollocks, i missed it by x" factor.

 

Harsh!