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Message:: [QUOTE="medoraman, post: 1553755, member: 26302"]"Overbidding" is a pretty subjective term. Depends on whether you know the value or not. I am not saying, especially for cheaper things, Ebay buyers do not many times overpay, but I am sure the other bidders thought I "overpaid" for the group a week ago I paid $355 for. The retail value of those pieces combined is probably somewhere around $1400. Most knowledgable collectors I know, who still buy anything on Ebay, do so by sniping. To each his own. I do it since I chase rare things not available elsewhere but do not wish to sit at my computer all day waiting for an auction to come up. I have more stuff to do, so I peruse the auctions, set up snipes, on MY schedule, and then are assured I will participate in the auction regardless of my schedule. For the same reason I usually use agents at live auctions. I don't always have time to participate myself, and they are better at executing bids than I am. Btw, jeffb's point about others probing your bid is an excellent point also. Besides my convenience, its the other reason I switched to sniping. I got sick and tired up putting up a bid for say $44 when the other bid was $10, but after I lost seeing some guy place 8 bids against mine until he was finally a couple of dollars higher. With snipes, he doesn't know what hit him, and if he didn't place his first bid high he is just out of luck.[/QUOTE]