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this is totally off-topic. of course you will never win against someone willing to pay 1b for an item worth 100m to you.
What this thread is trying to say is that if you are willing to pay 1.01b, you will win, even against a "person who has printed money"
How is this correct?
Thanks for your reply here.
I understand your example, this makes sense and everyone would agree (I hope so!)
However, one part you are missing.
Say I put an item up for sale with minimum at 5000. Person1 bids 12345 and is now winning, yes person1 is the 1st bidder. Item is still listed at 5000, so far so good. Now person2 comes in and bids 23456. Items is now listing at 12345 with person2 winning. This is where the problem is. 12345 is the price person1 was the first willing to pay. So essentially, person2 now has stolen person1 max bid.
I believe person2 should be winning with (12345 + 5%)
By the way, I'm 35 ;)
I now understand the safe fake bidding...
You said it, THIS is the whole issue, nothing else:
"Once the current bid increases by less than 5% is when they've caused the bidder to hit their max, so stop bidding against them."
I believe the right way to fix this whole thing is to ALWAYS display bid increase with the 5% regardless of if/what people have bid already. Only show with 5% increment and only allow bids with 5% increments (obviously except the very 1st bid on an item).
This for me is the problem - the assumption that everyone plays by the same rules.
I for example bid 5x of the item's current value, one minute before close.
That's 500m bid for a 100m item.
Worst case, the price goes up 3x but very rarely.
It's a strategy and I'm not surprised anymore that I still lose frequently.
Someone is doing the same strategy but can afford a higher premium.
So it shouldn't suprise anyone that they were 'sniped'.
But we don't think that 500m is the fair market value. We're just betting that everyone else will bid with fair market value to their detriment....and this happens almost all the time.
Snipers (like myself) don't bet with current market price (+5%)...it's +500%
Yeah it benefits me but this is relative. Someone loses to me all the time, but I lose to someone a lot of times too. Goes to show how this kind of strategy is rampant.
People like to think that everyone bids fair market value...but that's so naive.
Unless this kind of price shading is penalized (via open-ascending bids with time extension), there's no point bidding anymore. Loot drops are already controlled by chance. And by the look of things, bidding also boils down to chance.
And this is the reason why, as a buyer, you are really better off sniping down to the last minute.
well a lot of people don't even have as many "friends" playing this game much less wanting to log in and put items in the AH. Don't care if someone already pointed this out, I may play the game in the future and have played in the past. But I have not wanted to log into this game or the forum game.
Do people even still have bidding wars like the first few months after release? Is it worth listing stuff with no buyout and letting people bid it up? Im scared to list good items with no buyout in case theres hardly any players left and someone just snipes it for the minimum bid.
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