Ask A Genius 468 – Buying or Selling Online (1)
Author(s): Scott Douglas Jacobsen and Rick Rosner
Publication (Outlet/Website): Ask A Genius
Publication Date (yyyy/mm/dd): 2018/12/09
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Scott Douglas Jacobsen: What do you know about buying or selling online?
Rick Rosner: Like we’ve said, high-IQ types get obsessed online; I have been obsessed. My wife has simple tastes. She shops at thrift stores. I used to get her a lot of flowers 30 years ago.
Now, we have a garden. So, we can get them out of our garden. There are no needs to buy flowers anymore. She did get some collectibles. She liked this collectible item. I have been cruising for cheap but good examples of this type of item.
Plus, you can use eBay to buy stuff. If you look around, you can get fantastic deals, because China wants to bury us. It is the way the Chinese economy and the economic disparities have made it so that you can buy stuff from other countries for just a pittance.
That is using eBay to buy it now option. You are not bidding or competing with people. You are simply buying the lowest price and not the lowest auction price. But if you’re going to bid on stuff, I am a swooper.
The swooping philosophy is coming in at the end with your best offer with about 8 seconds to go before the auction ends. This doesn’t give people time to get in there and outbid you, to think about it.
If their best offer is less than your best offer, and if you bid 10 minutes before it ends, it gives people time to think about it. If you come in at the end, then if your best offer is higher then theirs, then there is no time for them to reconsider and raise their bid.
It feels good and bad. You are not permitting others to outbid you. At the same time, that is the way that it works.
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