i am about to deposit some cash in here but at first glancee it looks extremely -EV
For those of you that haven't heard of it before (me before today). You purchase bids for $0.60 and most things go in 1 cent increments. There is a clock (usually about 15 seconds towards the end of the auction) that resets after each bid and it is basically an auction.
been wanting to pick up an xbox....so i was watching it. They say the value was a little over $200 and it sold for about $14.50
the winner was a "bid-o-matic" and they spent 140 bids to get there ($84.00 + $14.50 = $98.50). good deal for the winner....but there were many other people that spent $786 in total that got absolutely nothing.
Obv +EV for one and -EV for many many more. I think overall if we can develop some bidding strategies here we can really scoop up some stuff.
any thoughts or experiences?
For those of you that haven't heard of it before (me before today). You purchase bids for $0.60 and most things go in 1 cent increments. There is a clock (usually about 15 seconds towards the end of the auction) that resets after each bid and it is basically an auction.
been wanting to pick up an xbox....so i was watching it. They say the value was a little over $200 and it sold for about $14.50
the winner was a "bid-o-matic" and they spent 140 bids to get there ($84.00 + $14.50 = $98.50). good deal for the winner....but there were many other people that spent $786 in total that got absolutely nothing.
Obv +EV for one and -EV for many many more. I think overall if we can develop some bidding strategies here we can really scoop up some stuff.
any thoughts or experiences?
