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tribu
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Chances are that the person upping the bid last minute is the seller or an associate of the seller. Though its supposedly illegal, if you ever attend a seminar on how to make money with EBay, one of the major points they try to teach is that you should have multiple user namer registered for the purposes of raising a bid till it gets to the desired level. Especially in a heated moment of "competition" like in the last few minutes of an EBay bid, people tend to dissavow their limits and spend much more on a product than they normally would, because they want the object. By preying on the American (over 60% of EBay users are from USA) value of victory in competition, these sellers are able to raise prices well over market value to turn a nice profit.
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Oct-05-2004 15:46
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tribu
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| quote: | Originally posted by Trancer85
im a n00b to e-bay, but what if you're the one ending up with the last bidding? |
Then you relist the item, (essentially for free), up the shipping costs a bit to cover your ass, and repeat the process. Remember, the purpose of this tactic is to raise the price above market value, so youre profiting regardless. If you win your own auction, you simply leave yourself good feedback, pay Ebay what they want (often a small percentage, but varies depending on the final price) and carry on. This tactic works best for someone selling several things per day but even if you only have one or two auctions ending per day, you can still profit nicely with this tactic. Additionally, theres a rule of three. That is, do not re-raise the intended buyer more than three times, as this is almost always the limit at which the buyer's self-preservation will kick in and they realize they may be over paying for this item. With proper management, profiting off of EBay is simple.
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Oct-05-2004 16:25
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