Speaking of Winebid...

[T_Williams]

I always wait to the last 30 seconds to place a bid. If you bid early someone else bids up your price you want to pay for your item. It gives others less time to come back in and place a higher bid if you bid above their high bid number. I always wonder why so many people bid the price of an item up for the week it is out for bid. That strategy is not good for the buyer, but great for the seller.

There have been numerous discussions here on bidding strategy,there is no objectively better one size fits all plan. In my case I have way more wine than I need, and never have to have a bottle. but like deals. Say a wine I like has opening bid of $100, and estimate of $120=150. I’m a buyer at low estimate. If I bid early (1st bidder) with autobid of $120, then:
a) if no one else interested, I win at $100
b) if one or more other bidders interested at $100, I win at 100
c) if others interested at $110, I win at $110
d) if others interested at $120, I win at $120
e) if others interested at $130, I lose
if I wait to snipe, I lose at d & e. with scenarios b & c, I pay $10 more than otherwise

I bid this way 90% of the time, and normally placed the bid once I see the wine that interests me. I consider it a no-lose strategy, as if someone else gets the wine, they get it for a price I was not willing to pay. If it is a special bottle, like a 1986 Magdelaine that I just grabbed, sometimes I bid later and more aggressively.

This is my strategy as well. I normally set things as tracking for a day or two until I decide if I really want to bid it or not. Then mid to late week I will put a bid in for the max I value something and forget about it until the week’s cycle is over. The only time I am bidding aggressively on Sunday night, wine is involved, and not the one’s being auctioned.

TW

[Dav3_Dyr0ff]

In my completely unscientific opinion, with online auctions like these, the “bid as early as possible” strategy is best if you want the wine but only at the opening bid or perhaps only at one increment higher, the “set your max and forget it” (whenever you get around to it, without putting any effort into trying to be early) is best if you want the wine but only up to a certain price that is more than one increment above the opening bid, and the “snipe” strategy is best if getting this lot of this wine is what’s most important (perhaps due to scarcity or timing or whatever) and you’re willing to “overpay” to do so (even though you still will of course have some limit of some kind).

[Victor_Hong]

From an economic perspective, the buyer in an open, competitive auction will generally lose, via the Winner’s Curse.
From a psychic perspective, that buyer may still have gotten a pure steal.

Despite how I need no more wine, and am keenly sensitive to market valuation risk, the latter dominates.

[Kelly_Walker]

From a psychic perspective, that buyer may still have gotten a pure steal.

Despite how I need no more wine, and am keenly sensitive to market valuation risk, the latter dominates.

I did not realize you were a psychic…what am I thinking?

[Victor_Hong]

From a psychic perspective, that buyer may still have gotten a pure steal.

Despite how I need no more wine, and am keenly sensitive to market valuation risk, the latter dominates.

I did not realize you were a psychic…what am I thinking?

Then you never read the Negam-Aki Thread.

[Kelly_Walker]

Actually I have. Maybe indeed you are a psychic.

[Alex_Frank]

The only time I am bidding aggressively on Sunday night, wine is involved, and not the one’s being auctioned.

Had to delete the app off my phone for this exact reason.

[John_Danza]

One of the main reasons I decided to partner up with WineBid on the search bar function is because of Russ Mann. Since he’s taken over as CEO he has been absolutely on FIRE to change things there - he listens, he truly cares about what customers like and dislike, what changes need to take place, etc. Every company should get a guy like this to head them up, seriously. I remember reading a ton of complaints here about WineBid, and since Russ took over, it’s all turned a 180 in terms of customer experience. #mancrush

Ask him to reopen the Chicago warehouse.

+1000!

[M_Meer]

Anyone going to the happy hour event in Santa Monica?

[M_Meer]

I was able to attend the WineBid happy hour this past Monday at Birdie G’s in Santa Monica. Whether due to oversight or clients #10 to 522,404 being unavailable that evening, I was somehow invited and I’m glad to have taken part in it.

The passed apps and small plates were fantastic and wine friendly (a pickled vegetable tray, Texas toast with chicken liver mousse and one with sweetbreads, and a mushroom fritti were some of those offered).

Paul from WineBid selected two wonderful champagnes from the list to start things off that proved to be excellent contrasts to each other – Pierre Peters Cuvee de Reserve and Vilmart Grand Cellier. Among the other highlights were a 2010 Hubert Lamy Saint Aubin 1er cru, Roulot Bourgogne Blanc, and a beautiful Quintarelli Primofiore to cap things off.

Most importantly, the company we shared was best part. Russ and his lovely counterpart were gracious hosts, and it was cool to talk wine and get to know people that are passionate about what they do. All in all, the event was great fun and a nice gesture on behalf of WineBid to get to know its customers.

[Victor_Hong]

I was able to attend the WineBid happy hour this past Monday at Birdie G’s in Santa Monica. Whether due to oversight or clients #10 to 522,404 being unavailable that evening, I was somehow invited and I’m glad to have taken part in it.

The passed apps and small plates were fantastic and wine friendly (a pickled vegetable tray, Texas toast with chicken liver mousse and one with sweetbreads, and a mushroom fritti were some of those offered).

Paul from WineBid selected two wonderful champagnes from the list to start things off that proved to be excellent contrasts to each other – Pierre Peters Cuvee de Reserve and Vilmart Grand Cellier. Among the other highlights were a 2010 Hubert Lamy Saint Aubin 1er cru, Roulot Bourgogne Blanc, and a beautiful Quintarelli Primofiore to cap things off.

Most importantly, the company we shared was best part. Russ and his lovely counterpart were gracious hosts, and it was cool to talk wine and get to know people that are passionate about what they do. All in all, the event was great fun and a nice gesture on behalf of WineBid to get to know its customers.

The Noo Yawk event recently was very nice. Russ and his colleagues were very generous.
(I too thought that I was a valued client, until everybody started passing to me their used glasses and plates. )

[M_Meer]

The Noo Yawk event recently was very nice. Russ and his colleagues were very generous.
(I too thought that I was a valued client, until everybody started passing to me their used glasses and plates. )

It might have been the vest and bow tie

[Victor_Hong]

The Noo Yawk event recently was very nice. Russ and his colleagues were very generous.
(I too thought that I was a valued client, until everybody started passing to me their used glasses and plates. )

It might have been the vest and bow tie

[Blake_Brown]

I always wait to the last 30 seconds to place a bid. If you bid early someone else bids up your price you want to pay for your item. It gives others less time to come back in and place a higher bid if you bid above their high bid number. I always wonder why so many people bid the price of an item up for the week it is out for bid. That strategy is not good for the buyer, but great for the seller.

+1 Why bid against myself?