Watching Closely As an Auction Winds Down
I happened to go onto eBay just a few minutes ago and this auction was closing: Miles Davis, Dig, Prestige 7012. The record and cover were both in extremely nice condition, just a notch below M-. I decided to just watch and see how the action transpired in the closing minutes. It was actually quite fascinating. When I started watching, with a few minutes left in the auction, the price was in the $150 range. This was quite low, I thought, although I never considered bidding myself. I actually own two copies of this record, both in beautiful condition. As I was watching and as the seconds dwindled down, it shot up to about $250 and then, in rapid succession as the action was closing in the last 12 seconds to $350 then the final price of $463, which is about where I would have expected it to land. If you look at the bid history, there seemed to be four bidders in the final stages and my guess is that each of them was using sniping software. The second highest bid was $458, so the next highest bid had to be $5 more, for the $463. We’ll never know exactly what the top bid may have been, but at $463 for this classic Prestige original, I would think that both the buyer and seller would be quite pleased. Yes?
it can be fun to watch the final seconds of auctions and the exponentially increasing nature of the bids on some items.
I’ve seen analyses to predict ebay sold prices based on many factors, but (though I haven’t exhaustively searched it), has anyone done a prediction model for the price increase from the price going into the last 20 seconds to the ‘sold’ price?
Yes, the programmers in the valley is working in shifs
not exactly a record – sold for over $1200 in 2010 (M-/M-)
Also noted that many of this seller’s albums that I would consider desirable, and seemingly close to M- in most cases sold for what I consider rather low amounts