It happens time after time on several platforms for purchasing. When I want something that I like on eBay, somebody will overcut my offer and win the bid on the last minute. When I was interested in buying a house when I had a little money, somebody would show up and bid more money. Who are these foolish people who constantly squeezed in?
I just can’t get much of an advantage in this commercial society with all these high bidders. Money must grow on trees for them. I have to wonder if they offer more money because they are just more passionate about the item than me. I find myself just being the guy who caused them to pay a little more for their item.
But I can’t go running around bumping up the prices on things for no reason. I have too little money to spend and can only focus on the things that I need to survive. But even the survival stuff seems overpriced too. I am willing to spend the necessary money to eat. Hunger pains are tough to deal with. I am a little relieved that people can’t sneak in and pay a higher price on food than me and practically take it out of my hands.
We all know how the housing market crash of 2007 went. There were a lot of people sneaking in and offering more money than other guys to secure their house. Perhaps people got accustomed to overbidding on things from their experiences with eBay. There is such a constant flurry of business, sometimes you can make an overpriced bid just to see where the other guys bid was set to, out of curiosity.
What if the whole bidding system changed for real estate purchases? Real Estate agents are incorporating the Internet into their activities more than ever, these days. They need to also change the way they do things as a result. The bidding system would need to change for the Internet.
I believe I have seen homes up for bid on eBay before. The real estate agent starts the price at 99 cents to get everyone’s attention and then a bidding war erupts. As the war is going on, it turns into a curiosity guessing game. You wonder what the other guys high bid number is. Is the number even? Is it odd? Just to get that $1 advantage over the next bidder, you want to bid in unorthodox ways.
Before you know it, the bidding has gotten out of hand and the item is overpriced. At this point, you want it to get over with and you want that feeling of accomplishment, like you won something -even though it’s going to cost you big time.
Then there are lousy low bidders, like me, who are left with the feeling that we wasted our time on this product. We got excited about it when the price was low. Then we see what the bid price went for at end, which usually was too high for something popular -but it was only a few dollars more than me. Oh well, maybe I will bid higher for the next one, if I want it so bad…..