A few days ago, I bid on a laptop table via ebay UK. I was sure I would win…and promptly went out to buy Gobi Manchurian, a personal favorite. So confident was I that I didn’t even bother monitoring the end of the auction, and instead settled for the idiot box. Logging into my laptop a few hours later, I had a minor shock. I had been outbid 9 seconds before the auction ended. I was amazed at how meticulously people chose to bid…and eventually win.
The same vendor relisted the same product a few days ago. This time I was ready. Someone placed the initial bid, I waited until the final 30 seconds before I made my move and placed the winning bid 6 seconds before the auction wound up!
I guess the outsmarted original bidder has learnt a lesson just like I had 2 weeks ago. Let wisdom propagate down the bidders!