AW Daily - Tips & Tactics - During the Auction: Beating Out a Snipe

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The closing minutes of an auction are often the most crucial. That's when sniping--the practice of placing a bid just as an auction is about to end--comes into the picture. Sniping can be good for sellers (it potentially drives up the price of their merchandise and can cause a last-minute bidding frenzy), but frustrating for buyers who get the rug pulled out from underneath them and have little or no time to respond. There's nothing worse than thinking a bid is in the bag, only to get sniped and lose the auction. What to do when you're in the presence of a snipe? Read on for some helpful hints.

Hey, It's Legal
Sniping may be considered a somewhat pejorative term, but it's nonetheless a "legal," if at times maligned, bidding practice. Most snipes will monitor an auction or use automated bidding software. Either way, the result is the same: a snipe swoops in and snatches that coveted item you thought was as good as yours. Some snipes will tell you that sniping is just part of the online auction game--so get used to it. But how prevalent is sniping? No one knows for sure. However, one Vendio member estimates that on the auctions he's bid on during the past two years, he's sniped approximately 75 percent of the time. The bottom line: Whether you embrace or despise sniping, it's a fundamental part of online auctions.

Snipe Back
That's right. If someone is sniping you, then turn the tables and do a little sniping of your own. Granted, this works only if there is an adequate amount of time left in the auction, and not everyone is able to monitor auctions like a hawk. But if you have the time (as well as the temperament to indulge in some bidding fisticuffs), you can always try to out-snipe a snipe. Be careful, though. Before too long, you might find yourself craving what's known as the "sniper's high."

Recently, auction sites have implemented tracking services, which allow you to closely monitor the progress of a particular auction or auctions (eBay's "Watch this item" feature, for example). Tracking an auction is a good way for would-be snipers to keep tabs on when an auction of interest will end--just don't fall asleep at the wheel and forget about it. You can track auctions right here at AW by using Auction Manager.

Automatic Auction Extensions
Some online auction sites, such as Excite Auctions and CityAuction, will prolong an auction automatically when a bid is received in the final minutes of an auction. For example, if someone places a bid in the last 10 minutes of an auction on Excite Auctions, the auction will be extended in 10-minute increments (it's 5 minutes on CityAuction). If you're fed up with sniping, you might want to consider taking your business to a site that offers automatic auction extensions. This service is a good way to combat the problem of sniping. But it does make auctions longer (and potentially endless) and takes away the drama of a fixed-time auction.

Proxy Bidding
The best defense against sniping is to rely on automated, or proxy, bidding. When you come across an item you're interested in, realistically decide how much you're willing to spend, not how much you hope to spend. Enter this amount as your maximum bid (you might also want to add a few more dollars just in case). Let proxy bidding take care of the rest. In order to win an auction, a snipe has to outbid you. But if you've already settled on the maximum amount you're willing to pay, you needn't worry about a snipe, right? By bidding your true maximum amount up front, you foil snipes who prey upon bidders with low maximum bids.

Contrary to popular belief, snipes don't always win. If a snipe places a last-second bid and it doesn't top your maximum bid (thanks to proxy bidding), then he or she is typically not going to have enough time to place another bid before the auction closes. Lastly, beware that there are some snipes who live for the adrenaline rush of sniping. They're not so much interested in the item as they are in the primal thrill of victory. If you rely on proxy bidding, you'll be able to avoid these types of snipes. And what if you're outbid by a snipe? Well, at least you weren't lured into spending more than your maximum. And of course, there's always next time...

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