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Non Traditional Bidding Works on eBay
You’ll never find an auctioneer in real life who will stop the auction at a preset time with bidders clamoring to bid more, but online auctions on eBay do this regularly. Although there is no way to connect auction sniping with the rise in “Buy It Now” sales on eBay, it’s hard to discount a connection entirely.
A New Scientist report backed up what every experienced eBay user knows, or should know. Sniping, the practice of sending in a bid at the last possible second, is the strategy that works best for winning.
Mathematicians at Seoul National University in Korea studied more than half a million US and Korean eBay auctions, the report said. The scientists’ finding, as it appears in the July edition of Physical Review E? “Bidding at the last moment is a rational and effective strategy to win in an eBay auction
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