Joined: Nov 2006
Posts: 19,810
Likes: 597
From: NJ, NYC, LI
Bikes: 1940s Fothergill, 1959 Allegro Special, 1963? Claud Butler Olympic Sprint, Lambert 'Clubman', 1974 Fuji "the Ace", 1976 Holdsworth 650b conversion rando bike, 1983 Trek 720 tourer, 1984 Counterpoint Opus II, 1993 Basso Gap, 2010 Downtube 8h, and...
I either use the buy-it-now function, or I snipe.
The most surprising thing to me is that when I snipe, I almost always pay a lot less than I was willing to pay, or I don't get the item. Typically I'll enter a snipe amount around $75 and the item will sell for $40 (to me) or $140 (not to me). Either way I'm happy.
If EVERYONE sniped at the last minute (well, 7 seconds before end of auction) nothing would change. The person who entered the highest bid would win the item, and the price would be pretty much the same as otherwise expected.