Why do people place early bids on Winebid? Question/Rant

[Bruce_Leiser_owitz]

@David Glasser

Too much sniping in this thread.

Some people like to post early in a thread to get their point across ASAP and preempt the topic. Other people like to wait four years so they can have the last word. There is no
right or wrong way.

Bruce

[Michael_Martin]

@Chris Seiber

@Michael Martin

Here’s a rant for you: why do people resurrect 4 year old threads?

If we only talked about a subject once and that was it, this board would mostly cease to exist.

I can see a point in resurrecting a prior thread versus starting from scratch on the same topic.

If something has changed on the topic or if there is a material update, completely agree. Adding an opinion on something brought to a natural conclusion…

[Bryan_Price]

@Michael Martin

Here’s a rant for you: why do people resurrect 4 year old threads?

I’ll answer this since I’m the one who did it, and I’ve done this now 4-5 times. Two points:

1. A lot of the old threads have good information already. Starting a new one feels duplicative and I think there are too many threads as it is.

2. It’s fun to see how people’s opinions have changed over time.

Is there a way to mark threads as permanently read (unless searched for) so I don’t have to sift through thousands of tasting notes just to get to a topic I’m interested in?

[Michael_Martin]

@Bryan Price

@Michael Martin

Here’s a rant for you: why do people resurrect 4 year old threads?

I’ll answer this since I’m the one who did it, and I’ve done this now 4-5 times. Two points:

1. A lot of the old threads have good information already. Starting a new one feels duplicative and I think there are too many threads as it is.

2. It’s fun to see how people’s opinions have changed over time.

I updated my post above to clarify my position.

Old threads mess with my ADD.

[Bryan_Price]

Why isn’t someone asking me why I’m not working hard at my job?

[Michael_Martin]

@Bryan Price

Why isn’t someone asking me why I’m not working hard at my job?

'cuz that question would apply to almost all of us.

[ERPark]

What’s this “job” thing?

[Mark_Golodetz]

There are very few wines which I really must have. Most purchases are value propositions; if it gets beyond a certain price, I walk away. Strategy for these wines is bid early with my maximum included.

Then here are the few bottles that I really would like and will bid a little higher than makes sense. Maybe three or four times a year; I will be bidding and sniping.

[Craig_G]

@Chris Seiber

To me, if you would have gone up another $5 seconds before the deadline to get the bottle, you should have just autobid up to that number. I don’t get people acting put out that someone outbid their $40 bid at the last second aka “sniped.” If you would have spent $50 to get the bottle, you should have autobid $50.

Exactly. Bidding early is a fine strategy. Sniping is a fine strategy. But you should always bid once and bid your max. The only reason to rebid is if for some reason the max you are willing to bid changes. “This guy outbid me” is a stupid reason.

I have a friend who started bidding at K&L and it’s taken me months to convince him that bidding multiple times is dumb.

[Robert_M_yers]

You have to look at the bid increment and bid just above the next increment. If it’s a $10 increment on a $50 wine I would bid $60.01 in my initial bid assuming I’m willing to pay $60. This keeps me from having to then bid $70 to win the auction.

The downside could be that I can’t win at $70 anymore and would now theoretically have to pay at least $80.01 to win should there be an escalation.

[Jay_Miller]

@Craig G

@Chris Seiber

To me, if you would have gone up another $5 seconds before the deadline to get the bottle, you should have just autobid up to that number. I don’t get people acting put out that someone outbid their $40 bid at the last second aka “sniped.” If you would have spent $50 to get the bottle, you should have autobid $50.

Exactly. Bidding early is a fine strategy. Sniping is a fine strategy. But you should always bid once and bid your max. The only reason to rebid is if for some reason the max you are willing to bid changes. “This guy outbid me” is a stupid reason.

I have a friend who started bidding at K&L and it’s taken me months to convince him that bidding multiple times is dumb.

The exception being if you have a (for example) monthly budget and being outbid on one lot has freed up money to increase your bid on another lot. While I’ve been off winebid for a while as part of my wine downsizing strategy I used to do that all the time. A lot of low bids, then if I lost half of them increase other bids if the wine is worth the higher amount to me.

[Michael_Martin]

@Robert M yers

You have to look at the bid increment and bid just above the next increment. If it’s a $10 increment on a $50 wine I would bid $60.01 in my initial bid assuming I’m willing to pay $60. This keeps me from having to then bid $70 to win the auction.

The downside could be that I can’t win at $70 anymore and would now theoretically have to pay at least $80.01 to win should there be an escalation.

Winebid requires whole dollars. No penny pinching.

[Jayson_Cohen]

@Jay Miller

@Craig G

@Chris Seiber

To me, if you would have gone up another $5 seconds before the deadline to get the bottle, you should have just autobid up to that number. I don’t get people acting put out that someone outbid their $40 bid at the last second aka “sniped.” If you would have spent $50 to get the bottle, you should have autobid $50.

Exactly. Bidding early is a fine strategy. Sniping is a fine strategy. But you should always bid once and bid your max. The only reason to rebid is if for some reason the max you are willing to bid changes. “This guy outbid me” is a stupid reason.

I have a friend who started bidding at K&L and it’s taken me months to convince him that bidding multiple times is dumb.

The exception being if you have a (for example) monthly budget and being outbid on one lot has freed up money to increase your bid on another lot. While I’ve been off winebid for a while as part of my wine downsizing strategy I used to do that all the time. A lot of low bids, then if I lost half of them increase other bids if the wine is worth the higher amount to me.

Exactly my thought. There’s also nothing wrong with reassessing Individual value between initial early bid and auction close, and making strategic new bids, e.g., to prevent losing a wine by $1-2 given that WB now has $1 increments below $100 per bottle.

[mike_pobega]

Hi, my name is Mike and I love to snipe.
I bid on about 100 lots a year and win about 92. Pretty good odds I’d say.

[Jay_Miller]

@mike pobega

Hi, my name is Mike and I love to snipe.
I bid on about 100 lots a year and win about 92. Pretty good odds I’d say.

Hi Mike!

[Wes_Barton]

@Jay Miller

@Craig G

@Chris Seiber

To me, if you would have gone up another $5 seconds before the deadline to get the bottle, you should have just autobid up to that number. I don’t get people acting put out that someone outbid their $40 bid at the last second aka “sniped.” If you would have spent $50 to get the bottle, you should have autobid $50.

Exactly. Bidding early is a fine strategy. Sniping is a fine strategy. But you should always bid once and bid your max. The only reason to rebid is if for some reason the max you are willing to bid changes. “This guy outbid me” is a stupid reason.

I have a friend who started bidding at K&L and it’s taken me months to convince him that bidding multiple times is dumb.

The exception being if you have a (for example) monthly budget and being outbid on one lot has freed up money to increase your bid on another lot. While I’ve been off winebid for a while as part of my wine downsizing strategy I used to do that all the time. A lot of low bids, then if I lost half of them increase other bids if the wine is worth the higher amount to me.

There’s also a case with multi-bottle lots. You might happily take them all at a low price and have a much higher price you’d be willing to pay for one. So, you get the early bid in, then come back at the end to make sure (within reason) you get one.

[Jay_Miller]

@Wes Barton

@Jay Miller

The exception being if you have a (for example) monthly budget and being outbid on one lot has freed up money to increase your bid on another lot. While I’ve been off winebid for a while as part of my wine downsizing strategy I used to do that all the time. A lot of low bids, then if I lost half of them increase other bids if the wine is worth the higher amount to me.

There’s also a case with multi-bottle lots. You might happily take them all at a low price and have a much higher price you’d be willing to pay for one. So, you get the early bid in, then come back at the end to make sure (within reason) you get one.

Very true.

[Craig_G]

@Jay Miller

@Craig G

@Chris Seiber

To me, if you would have gone up another $5 seconds before the deadline to get the bottle, you should have just autobid up to that number. I don’t get people acting put out that someone outbid their $40 bid at the last second aka “sniped.” If you would have spent $50 to get the bottle, you should have autobid $50.

Exactly. Bidding early is a fine strategy. Sniping is a fine strategy. But you should always bid once and bid your max. The only reason to rebid is if for some reason the max you are willing to bid changes. “This guy outbid me” is a stupid reason.

I have a friend who started bidding at K&L and it’s taken me months to convince him that bidding multiple times is dumb.

The exception being if you have a (for example) monthly budget and being outbid on one lot has freed up money to increase your bid on another lot. While I’ve been off winebid for a while as part of my wine downsizing strategy I used to do that all the time. A lot of low bids, then if I lost half of them increase other bids if the wine is worth the higher amount to me.

That’s not an exception to what I said. It’s a valid reason to change the max you are willing to bid.

[Chris_Seiber]

@mike pobega

Hi, my name is Mike and I love to snipe.
I bid on about 100 lots a year and win about 92. Pretty good odds I’d say.

I’ve always thought “win” is a bit of a misnomer in auctions. You were willing to pay the highest price for something; it’s not like you won a contest, raffle or prize.

[Nate_Simon]

Exactly. As in Vegas, the house always wins.