A Word to the Wise About Auction Bidding

Discussion in 'V.C.'s Parlor' started by jefffam, Sep 10, 2019.

  1. jefffam

    jefffam Dr. Squier

    Age:
    61
    Jan 26, 2015
    Portland, TN
    Hi all,

    I know this has been covered before, but I'm not sure if it had a dedicated thread. Most of the older posters (age of membership) know but a word to the wise for some of our newer posters. When bidding on any auction, please do your due diligence about what you are buying. It does not have to be deeply involved but check MF, GC, Ebay and/or Reverb for what used/new gear is actually selling for on these new/used auction/retail sites. CL, OU and LG are not good barometers, because all you get is asking price, not what it actually sold for. All too often, in the heated frenzy of bidding, it's easy to lose sight of selling price vs alternatives especially when you add in shipping.

    More that once I've seen used SGW gear selling for more than the same gear new. Case in point, I saw a microphone that I was interested in, but I checked. It still has another day to go and is already within $11 of new. That's not counting shipping. Unless you live literally next door, it is no deal.

    Of course you can always bid what you want, but at least you are aware. Something you are determined to own (because of availability, age, color scheme, components, etc.), can change how you approach the auction.

    Happy bidding.
     
    Treynor, MrYeats, dbrian66 and 11 others like this.
  2. Perhaps these on-line auctions are the reason why used prices have become next to ridiculous?
    I scared a guy off telling him his price was double what I'd paid for the same model twice in the past year.

    Cheers, Barrie.
     
    MrYeats, gmt124, dbrian66 and 3 others like this.
  3. JurnyWannaBe

    JurnyWannaBe Squier-Nut

    Age:
    59
    584
    Feb 14, 2019
    30808
    ^^^ Sage advice
     
    MrYeats, gmt124 and dbrian66 like this.
  4. lost sailor

    lost sailor Squier-Meister

    I saw an item for 9 dollars that I was interested in --- until I saw the shipping was 150 dollars
    --from Isreal - it was a ham radio hand held --- glad I didn't click "buy it now"
     
    BlueSquirrel, MrYeats, gmt124 and 2 others like this.
  5. gmt124

    gmt124 Squier Talker

    Age:
    65
    40
    Aug 11, 2019
    Wales, UK
    I always find it useful (on eBay) to tick the Show Only Sold Listings box , then scroll back to get an idea of the average price.
     
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  6. WNCStratman

    WNCStratman Squier-Meister

    Age:
    34
    313
    Aug 21, 2019
    North Carolina
    Definitely solid advice. Anything I’ve bid on, I take a good look at all the pictures and the description and also what the total cost will be including shipping before I place a bid. I determine a set dollar amount I’m willing to go up to and that’s it. Too many people lose sight of the fact of what they’re actually bidding on, get caught up in a bidding war, and then their sole focus is just winning. That’s a good way to end up paying way more than what an item is truly worth. I’ve seen that many times on SGW already. Of course, depending on the area someone lives in also determines what it’s worth to somebody. That being said though, I’ve seen a lot of Affinity Squiers go for over a hundred bucks on sites like SGW and to me, that’s too much money for something you can’t even put your hands on before you pull the trigger.
     
  7. so1om

    so1om Dr. Squier

    Age:
    51
    Feb 10, 2010
    Chicago
    Good tips for sure.

    Remember that SGW for that Fender Tweed amp that was quite high but a simple pic of the back showed the CE marking? Not vintage! A little homework goes a long way and knowledge is power. A key is to also be ready and study up on something you may want. If a hot deal comes by, time waits on no one. So be prepared if necessary.

    And right.. if it's within 25% or so of new price, I'd tend to go with new -the right color, a warranty, some recourse (like a GC or MF, etc..)

    Stay sharp!
     
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  8. Davis Sharp

    Davis Sharp Dr. Squier

    Jan 7, 2016
    Maryland, USA
    Always.
     
    MrYeats, gmt124, Best1989 and 3 others like this.
  9. wildelectric

    wildelectric Squier-Nut

    626
    Sep 23, 2016
    Western Illinois
    I, personally, find mini bidding wars during an auction very useful.

    These contests are evidence that there are people in the auction who are willing to shoot themselves in the foot on impulse or ego, which are not people I like to be around in any capacity.

    They're also a good indicator to leave an auction early when the price is heading toward an amount that doesn't make sense. This way, I don't waste my time monitoring an auction and can move on to something else I'm interested in.

    YMMV.
     
    MrYeats, gmt124 and dbrian66 like this.
  10. so1om

    so1om Dr. Squier

    Age:
    51
    Feb 10, 2010
    Chicago
    Also.... Regardless of where the item is offered -Facebook Marketplace, Guitar Center, Garage sale.. Use things like eBay and Reverb's "sold listings" search to get an idea of trends and similar (or exact) items and what the going rate seems to be. Right there you can gauge value, add in your stake in what you'll pay and if it's wroth it.

    Interestingly, I pass on $45 Squiers and Epiphones all day. Around Chicago if I wait long enough, the one I want will swim by. In contrast, I was willing to spend up to $120 on the blue sparkle that was on blow out at GC 8 months earlier for $100. we all have our price.
     
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  11. Davis Sharp

    Davis Sharp Dr. Squier

    Jan 7, 2016
    Maryland, USA
    All good advice.

    I like the automated bidding feature when I enter the highest price I am comfortable with and the system bids for me, in small increments, until it reaches my limit. If it sells for a higher amount, I assume that a sucker bought it.
     
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  12. JBrooks

    JBrooks Squier-Meister

    Age:
    44
    107
    Jun 18, 2019
    Chicago
    Question about Reverb. If you search "Sold Listings," are the prices that are shown the actual selling price? Wasn't sure.
     
    MrYeats likes this.
  13. drewcp

    drewcp Squier-holic

    Age:
    35
    Dec 14, 2018
    Saint Paul, MN
    I was going to test this by looking at sold listings for things I bought, but not logged in, but I'm getting an error everywhere except for the app...where I'm signed in, so I don't trust that to be accurate.

    If you try to look at sold listings now, are they working for you?

    If so, here's the title's of some things I've bought recently:

    Peavey ValveKing 20 MH Tube Guitar Amp Head
    (if you look for this one, it has 2 footswitches in the pic)

    Paul Reed Smith SE Custom 24 Semi-Hollow 2004 Green/Black
    (this one is on a white bed sheet, I think)

    Squier Telecaster Neck
    (from Music Go Round Burnsville. It was a black headstock CVC neck. Should be easy to spot)

    If you can find what they show for under SOLD, I can tell you if that matches what I paid.
     
    MrYeats likes this.
  14. JBrooks

    JBrooks Squier-Meister

    Age:
    44
    107
    Jun 18, 2019
    Chicago
    The sold listings options is not working ATM :(
     
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  15. drewcp

    drewcp Squier-holic

    Age:
    35
    Dec 14, 2018
    Saint Paul, MN
    MrYeats likes this.
  16. BuddyLee

    BuddyLee Squier Talker

    Age:
    41
    38
    Aug 30, 2019
    Liberty SC
    I have a feeling a lot of people get caught up in a pissing contest with other bidders and prices get stupid.
     
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  17. pflug

    pflug Squier-Meister

    442
    Oct 11, 2013
    Michigan
    I'll put in a first, low bid if I see an interesting auction early or wait until its towards the end before seriously jumping in

    I always decide on a max price before entering any serious bids- I've also been shopping online long enough to realize that almost every item you see, even stuff that's quite rare, comes around again if you're patient

    I also bid less on items from SGW versus Ebay. for example, because I have higher expectations for the item condition and speed of shipping. As much as I dislike the company as a whole they do offer a lot of protection for the buyer

    Biggest temptation for me is trying to buy every great deal that comes along- really don't need more gear and would be better off spending the time playing guitar LOL
     
  18. Eddie

    Eddie Dr. Squier

    Age:
    49
    Nov 5, 2016
    New York
    I've been guilty of over-bidding. Not by too much ... but still over bidding.

    Good thing I haven't browsed SGW in a few weeks. :)
     
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  19. MrYeats

    MrYeats Squier-holic

    Age:
    64
    Dec 28, 2017
    Padre Island
    As a seller, I have noted that on Ebay I will have an item say for $299 or best offer option added. Someone offers me $250 for it and I sell it.
    Ebay maintains afterward that the item sold for $299...
    Just a heads up on that tidbit.
     
    BlueSquirrel and Davis Sharp like this.
  20. pflug

    pflug Squier-Meister

    442
    Oct 11, 2013
    Michigan
    It's up to you to define over-bidding :)

    No reason not to be happy about getting something you really like even if you paid top price

    Unless you're worried about being ridiculed by your friends on Squier Talk LOL
     
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