Re: When 'Snipers' Do Your Online Bidding for You

-----Original Message-----
>From: Camilla <campaul1 (AT) xtra (DOT) co.nz>
>Sent: Jan 7, 2006 11:50 AM
>To: Shelby6t7 (AT) aol (DOT) com, dan_drury (AT) midamcorp (DOT) com, shelbymustang (AT) carmemories (DOT) com
>Subject: Re: When 'Snipers' Do Your Online Bidding for You
>
>Interesting Kenny But as I was snipped last week What would of happened if we both had sniper software? Just Curious!
>



Nothing just the person with the highest reserve would win as long as the highest bid was over the spread required in the auction

Example as I understand it

Auction ends at 1800 hrs spread/increment is $2
I set the snipping software to bid $410 at 30 seconds before the auction ends
You set your software to bid 15 seconds before the auction ends with your highest offer of $411

In this example I win

If you set yourlimit at $450 then you win at $412


But that's the "fun" of the sniping the owner of the piece (as long as they have two bidders - real of phony) can get a higher sale price if the bidder set their limit at there highest possible offer. Keeps some buyers (when there are multiple bidders) from cherry picking

Jeff S