Originally Posted by ogilville
No one answered this question. I don't know what the 15 minute rule is either?
Not sure what they are referring to unless it's like Bring A Trailer. BAT has a 2 minute rule that after the auction ends you can raise the bids within 2 minutes. When nobody bids within 2 minutes the auction is over. Helps both buyer and seller either get the car or get the best true price that someone is willing to pay. As a seller I would love it. As a buyer you can forget sniping, the true price wins every time.
I get a big charge out of rookies who bid over and over for days before the end of an Ebay auction. I never ever bid until the very last seconds. I don't want to drive up the price or draw attention to the item. I figure out exactly what my max is with no regrets and I hit the button with less than 10 seconds to go. Sometimes I get it for far less than I was willing to pay and sometimes I am overbid by a lot. If I still want the same item I learn what the value may be by the experience and am ready the next time.