Ebay: Strategy Vs Tactics - A Few Questions

[Chouffleur]

As I get used to bidding on eBay I find that I’m wasting time on auctions I can *never* win. I have a Pen Budget which I stick to fairly closely. For an illustration let’s pretend that it’s 100 Chiemgauers (http://business-economy.top5.com/top-5-most-obscure-currencies/). I collect Esterbrook Icicles and am starting to look at Sheaffer snorkels (both in need of minor repairs). My limit on an Estie is 33 Chiemgauers. My limit on a Sheaffer is 50 Chiemgauers. I have a list of target pens and nibs that I’m looking for although I’m open to serendipity.

Tactics: I don’t bid until late in the auction because I don’t want to tie up budget on pens that are 5 days away from sale. No need to churn my “portfolio” when there’s a chance that this pen is going over my max eventually. I’m finding that I’ll follow pens for a while until they drift out of range and then move on to other pens (which will probably also drift away).

First Tactical Question: Given my budgetary constraints, what would you suggest as the optimum time to start paying attention to an auction? I’m trying to find a balance here among not missing pens I should be interested in, not buying (bleep) because I’m not doing enough due diligence (photographs, seller questions), and winning a reasonable share of the auctions I’m interested in (assuming my individual pen limits are reasonable). Should I not bother until 24 hours before close of business? Should I extend that period in order to have time for seller replies to questions?

Strategy: I really don’t have one besides identifying individual pens and bidding tactically on each one.

First Strategic Question: Given all that has gone before, what’s the best way to complete my list at prices that fit into my budget? Some variables here: over time I’ll be able to buy slightly more needy pens as my rudimentary repair skills improve, my budget for an individual pen may rise as I have fewer remaining targets, and in some cases my target is not model-specific (any snorkel in need of repair will do until I’m competent to do basic repairs, I won’t pass over a Special because it’s not an Admiral).

[gweimer1]

Well, my $0.02 - you're there for an item, and you have a budget. It doesn't sound like you're there for the thrill of the chase.

 

Even with a limited budget, it never hurts to set watches on pens you're interested in. There are all sorts of bidders up against you, from those who set a sniper and leave, to those who want to bid in small increments in a frenzy until they finally get a top bid.

 

It's the latter that will hurt you. They may be in it partially for the thrill of winning, and beating out all others, so those bidders may let emotion get in the way. With your budget limits, I'd suggest waiting until the very end of the listing to make your move, provided it hasn't been bid out of your range. At the same time, watch for bidding patterns on your items, and also keep track of prices and trends.

 

Finally, most of the pens we look for early on were made in the millions. They're still available, even if finding a really pristine item is difficult. That means that there will likely always be a pen you want listed somewhere.

[haruka337]

Everyone bids "tactically", and, depending on the time of year, it can work well enough. Most of the time though, you'll get the results you've stated.

Here's the best I can advise:

1. Search for common misspellings of the pen you're looking for on eBay.
This may yield a low bid pen or bring up a listing for a low "Buy It Now" price.

Caveat: Time consuming method and doesn't always provide you with the pen you're looking for.

2. Bid during the holidays, in January, March or after Tax Season.
I believe this to be self-explanatory. This method has yielded the best results for me with 35% to 75% off the typical final bid price.

Caveat: Gotta wait for these dates or months to roll around.

 

3. Build relationships with reliable sellers.
While your favorite seller may not list an item you want, it doesn't hurt to ask if they have it. One of three things will occur: They don't have it, they have it, but it's not listed, or they don't have the item, but they can get it for you.

Example: When I found a fountain pen I'd been looking for (for months) for $450, I was about to purchase it when I decided to message an eBay seller I frequented about it. I asked if he had the desired pen and he replied that he did and that he would sell it to me for $200 with free 3 day shipping from over seas.

Saved me $250 plus shipping costs.

Caveat: None, really.

4. Bids that end during work hours on weekdays.

Bidding snipers don't really frequent the end of these auctions, so you may get a pen for a price you're comfortable with.

Caveat: Uh, you have to bid during work hours. Not really recommended unless you have a cool boss, like I do.

[ttakacs]

You can get bargains on ebay, but you have to work at it. (See post #3.) Search on sold listings; that will give you a really good idea of what you can expect to pay for the pen you want. If the sold prices are always over your budget, it's time to rethink your strategy.

[jar]

Use a snipe service.

[Brianm_14]

Here's another 2 cents. Most of this I have gleened from here, from a few hours searching the 'Net, and by trying to be honest about my own emotions and buying tendencies.

 

Tactics:

 

-Use a watch list to both track possibilities and to learn how bidding is running on items similar to those you buy.

-Keep an eye on the bidders. Are you up against relatively inexperienced buyers, or someone who has made over 500 or 900 purchases?

-For instance, there is a fairly new bidder I've watched, and I know that he'll get in early, bid repeatedly, and very likely finally drive the price up beyond my limit, and often to what are, IMHO, foolish levels. Frequently, he gets snipped, too! In such auctions, I'll watch but never bid. It is frustrating when he is very active all over the place in a number of auctions, but bidding against him isn't fun (or wise) in any sense.

-Try auctions ending on weekdays and during work or early hours.

-If prices seem to be running high, take a break for a few days. Some items seem to have price cycles.

-Prioritize your purchases, and set your limits. Prune your watch list regularly.

-Start paying closer attention in the last 12 hours. But bid your maximum -once- in the last 6 - 7 seconds. Always make your max bid an odd number, like "$12.67".and not "$12.50." I've noted that bidders seem to use rounded off, even numbers.

-If you are beaten by a few cents, and it really annoys you, perhaps you hadn't really bid your true maximum.

 

-For strategy, set buying goals for the next few months and stick to them. Think in terms of months and years. Remember, a lot of good deals are still to come. Nothing should hinge on any one auction. What do you want your collection to look like in a few years?

 

The hard thing is to recognize you can only control your own bidding actions. If someone has deeper pockets, or wants something more and is willing to pay for it, it is out of your control. You still get to walk away with your money in pocket.

 

Keeping this in mind has helped me steadily improve my rate of good wins, and to reserve my very limited funds for some of the better deals that for some reason, never attracted the "wrong" sort of attention.

 

Good luck!

[Brianm_14]

Wow, great tips, Haruka! Thanks!!!

[inkstainedruth]

My bidding habits are all over the map. I don't use a sniping program, but sometimes I can effectively snipe within the last few minutes (often for pens that aren't first tier; that's how I ended up with a Morrison ringtop for under $3.75 US + shipping -- which was for more than I'd paid for the pen...).

But I've learned not to do nickel and dime bids. When I got my 51 Plum Demi I started out at a reasonable bid and (for me) a reasonable maximum, when I first saw the listing (it had one bid of $12.50 on it). I got nervous over the course of the week and upped my max a couple of times -- but it turned out that I needn't have (go figure -- the previous Plum Demi I'd seen I'd dropped out of the bidding when it went above what my intermediate max on the pen I'd won -- and closed at something like $102). The one I got I was sure I'd be outbid on as well -- to the point I almost didn't look at Ebay when I got home many hours after the auction ended. Because I'd seen how much the other one had gone for (and even watched the last few minutes even after I'd dropped out -- for morbid curiosity as much as anything, and it was $85 -- I'd dropped out at about $74 -- $85... $85... and then BANG $102 in the closing seconds....

I've also had good luck on auctions that end at weird times -- in the middle of the day, mid-week, say. Or, in the case of a pair of grey Esties (an LJ and an SJ, both with 9xxx nibs), on a Sunday morning. I mean, who ends an auction at 11:30 AM on a Sunday? But good for me -- I think they ended up being about $10 apiece -- and free shipping.

I do occasionally get burned (usually when I don't do sufficient due diligence, or get *super* greedy) but overall my experiences on Ebay have been mostly pretty good. And while I get disappointed sometimes about getting sniped, I'm usually pretty philosophical. Except in the case of this Cordovan Brown 51 that I'd built up a great rapport with the seller over. Because sooner or later another one will likely come along, either there, or at a show -- or even an antiques mall.

And, okay, this won't work for anyone else, but the first 51 I got on Ebay (a very nice early 50s Teal Aero) I was on the phone with a friend watching the auction run down. And saw her at something I was at the day I got the Plummer -- right about the time the auction was ending, which was about 4 PM on a Saturday afternoon.... So I was just *slightly* superstitious.... (especially when she was with me antiquing when I picked up my first Esterbrook, a black SJ with a 1555 nib -- and also when I *didn't* buy a blue skunk Estie a few months before... ).

Ruth Morrisson aka inkstainedruth

[Mr. Dante]

All excellent tips. For me, it's very simple. Always snipe. Make only one bid, seconds from the auction end. When you bid early, you're only inviting counter bids and in doing so, are usually contributing to a higher final auction price.

[penmanila]

i've been on ebay for 18 years now, with a feedback approaching 800, so i've been there and pretty much gone through every conceivable bidding situation. at this stage, with few exceptions (and with nearly all my grail pens accounted for), i follow a simple strategy: i leave my highest bid on an item (typically half of what it should sell for) and then walk away and wait. this way, whenever i win, i get the pen at a bargain. admittedly, this doesn't snag me too many pens anymore--maybe one in ten bids--but that's all right; i don't spend much, and still get my ebay kick (at this point, i suspect that's what it's more about for me). i typically have 10-20 bids on the board at any given time.

 

another good tip i can share is, first check "ending soonest"--because you'll never see those pens again; then check "newly listed, buy it now" for the low-hanging fruit. (about a month ago i saw a waterman 52 being offered for $15 buy-it-now, and i was about to grab it but my wife was chatting me up that same moment and when i was done responding to her, the pen was gone.)

[Cal_D]

Ebay allows you to set a "Max Bid" price, and then bids for you, with the minimal bid raise. I I normally just set that 5 or ten bucks higher then my bid, and do so in the last hour or less of the bid, with the value I add dependent on the item's cost. I like japanese pens, and a lot of those auctions end during the night in the west. Last I look at the Buy it Now price, and will sometimes buy it out from bidders if it has both, even if its at a bit of a worse price. Why risk not winning it just to save six bones if its rare or something I want?

[Cryptos]

There is a nuance here too. There is a difference between what one is willing to spend on a pen that may be avaialble again in the not too distant future, and what one may be willing to pay for a pen that one feels may never surface again. In other words there may be a sliding scale regarding what one may be willing to hazard.

[gweimer1]

All excellent tips. For me, it's very simple. Always snipe. Make only one bid, seconds from the auction end. When you bid early, you're only inviting counter bids and in doing so, are usually contributing to a higher final auction price.

 

I always drop a hook in the water on the low end, and then watch the bid patterns. It also serves to get reminders on status and ending alerts.

[tkmorrison]

I do always start by researching sold auctions and establishing what I should expect to pay on the low end for an equivalent item (from reputable sellers in countries you don't worry about dealing with). I'm initially quite focused on buying at that price, and with some diligence I can sometimes luck into a true bargain here and there. However, if I find myself repeatedly stymied in trying to land desired pens at bargain prices I'll generally rejigger my price a bit upward, because in the end I have to put some value on all the time I'm spending going for the ultimate bargain—which I think circles back to a central concern voiced by the OP in trying to make ebay shopping more efficient. I think in general an ebayer knows when to make a budgetary adjustment, as the thrill of the hunt will have soured to thorough frustration.

 

And while I don't use a snipe service, I do wait until the last seconds to bid. No need to tip your hand and drive up the price if you encounter a complacent bidder. It's mean streets on the bay.

[MrThoth]

 

 

3. Build relationships with reliable sellers.

While your favorite seller may not list an item you want, it doesn't hurt to ask if they have it. One of three things will occur: They don't have it, they have it, but it's not listed, or they don't have the item, but they can get it for you.

 

I think this is generally good advice, but beware of eBay's rules against contacting sellers and cutting deals outside of eBay. It's an easy line to avoid crossing, I think, once you familiarize yourself with the terms. And once you've established that direct relationship I don't think there's much concern.

 

Not much to add to the good advice already posted, except perhaps to say that your tactics/strategy should depend on how much time you want to devote to this. If you don't want to spend a lot of time monitoring bids and whatnot, place one bid for the absolute maximum you're willing to pay and then wait to hear if you've won. In this case, I don't think it matters when you bid, since you've established your max and have no intention of increasing it.

 

If, like me, you enjoy keeping track of auctions and such, adjusting this method based on the nature of the item, how much you want it, annual budget left to play with, etc. can reap rewards at times. At least if you enjoy it you'll have fun even when you lose.

[haruka337]

I think this is generally good advice, but beware of eBay's rules against contacting sellers and cutting deals outside of eBay. It's an easy line to avoid crossing, I think, once you familiarize yourself with the terms. And once you've established that direct relationship I don't think there's much concern.

This is where building that relationship and trust comes in. Ideally, one has purchased from the seller before, so they'll, in all likelihood, will have paid via PayPal. In the emailed PayPal receipt, one can find the email contact of their favorite eBay seller. Or, if they're really good and have a fabulous reputation, their contact info will already be floating around on the FPN boards.

[LisaN]

Hmmm, and I have all these snorkels...

[bsenn]

i've been on ebay for 18 years now, with a feedback approaching 800, so i've been there and pretty much gone through every conceivable bidding situation. at this stage, with few exceptions (and with nearly all my grail pens accounted for), i follow a simple strategy: i leave my highest bid on an item (typically half of what it should sell for) and then walk away and wait. this way, whenever i win, i get the pen at a bargain. admittedly, this doesn't snag me too many pens anymore--maybe one in ten bids--but that's all right; i don't spend much, and still get my ebay kick (at this point, i suspect that's what it's more about for me). i typically have 10-20 bids on the board at any given time.

 

another good tip i can share is, first check "ending soonest"--because you'll never see those pens again; then check "newly listed, buy it now" for the low-hanging fruit. (about a month ago i saw a waterman 52 being offered for $15 buy-it-now, and i was about to grab it but my wife was chatting me up that same moment and when i was done responding to her, the pen was gone.)

 

At this point I'm with you, set it and forget it. If I get something it was at a good price, if I don't get it there's always another one. Exceptions for items I reeaaallly want.

 

Buy-it-Now must be done without hesitation. Shoot first, ask questions later.

 

Brian

[CoffeeDaddict]

I have also tried looking for "Or Best Offer" items. Sometimes the seller puts a crazy buy it now price but will accept a much lower price when offered. I have snagged a few at a big discount this way.

[bobje]

eBay is such an efficient market that to get a deal you have to find inefficiencies, many described here, including the ending day/time of auction, misspellings of brands, lack of a brand in the listing title, the ability to spot designs and logos in photographs, etc. Typically I'm looking for pieces of information that other bidders haven't spotted, and with thousands and thousands of bidders, that's a challenging process.