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When taking part in an auction, they may imagine the item in their possession and exaggerate its monetary value as we develop an instant but meaningful emotional connection to the thing.
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Studies have shown that auctions trigger a “pseudo-endowment effect” in bidders. For example, we value our cars or our spouses (hopefully) over comparable options on the market. Therefore, parting with possessions can be painful even when they are not worth much money. Once an item is in our possession, it becomes part of our perception of self-worth. Instead, when we experience the “endowment effect,” we develop an attachment to items we possess which transcends its monetary worth. In other words, when we own something, we fear losing it more than we enjoy receiving a comparable item. We do not value items purely per their financial price. Humans are not purely rational creatures. Veteran bidders call this “auction fever,” and it stems from a common psychological fallacy known as the “endowment effect.” Mental Discipline Of Bidding On eBayīidders at an auction often experience an intense desire to obtain a specific object. When we follow this strategy, it provides our rivals with a long time to respond and puts us in the position of forfeiting or exceeding our comfortable maximal.Īn auction sniper bypasses the emotional impulse that leads us to make bad decisions by controlling our maximum bid and timing. Therefore, in the final hours and minutes of auctions, we often manage our bidding strategies poorly.įor example, we may bid our maximum price an hour or two before an auction will close to secure a desirable item. Why Should I Use An Auction Sniper On eBay?Ĭognitive research shows that we do not make wise decisions under pressure. Ideally, a sniper will place the bid at just the right time: just before the bidding closes but too late for competitors to outbid you. You identify the auction and set your maximum price, and the auction sniper will swoop in and bid for you right at the end. Sniping is the practice of placing a competitive bid at the last minute of an auction, hoping that rivals will not have time to outbid.Īn Auction Sniper is a tool that will bid on an eBay auction for you seconds before it closes. Therefore, becoming as proficient as possible in bidding is one of the most critical skills hobbyists need to develop. It is hard to collect today without spending a reasonable amount of time and money on this e-commerce site. A sniper works against the self-defeating emotional mechanisms that prevent us from getting the best deal at auctions.ĮBay is the largest affordable forum for buying sportscards. If you aren’t using an auction sniper when placing your bids on eBay, you are most likely wasting time and money.