February 2, 2007, Newsletter Issue #72: Sniping

Tip of the Week

Sniping is the practice of bidding in the last few seconds of an auction in order to prevent other bidders from outbidding you. The truth is, if you really want an item, sniping will almost always allow you to be the highest bidder, assuming you bid high enough. Sellers usually like sniping; whatīs not to like about increasing the final price of an item? Many smart bidders, however, simply bid the maximum amount they are willing to spend on an item and donīt worry about it. If they are outbid, thatīs okay, because they didnīt feel the item was worth more than their bid.

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