$0.01 no-reserve Gunbroker auctions!

[Beiruty]

I was checking 9mm ammo on gunbroker and I found like at least a dozen or so auction of 1000 rds of 9mm ( CCI, Federal, PMC ets) are starting a $0.01 with no-reserve.
It seems there are buyers mass bidding at $ 0.01,

Do those bidder make a living by hunting for those $0.01 no reserve auctions? Waiting for no bidder luck?

I bid on 1000 rds and I am still winner at $77. Most likely I will be outbid soon.

[chartreuse]

I'm in two minds about gunbroker. I have got a good deal off of there, but the combination of many sellers being real proud of their stuff and buyers getting into a bidding frenzy means such deals aren't that common.

That said, I'm off to look at the ammo auctions you're talking about...

[Carry-a-Kimber]

My experience with Gunbroker and Ebay is that auctions I have listed at .01 with no reserve get many times more people to put it on their "watch list". People will watch these and thus be more likely to actually bid towards the end of the auction. Most penny listings that have no reserve are set to end at high traffic times in order to get the most # of people bidding at the end of the auction. I have listed items with a low starting bid that had a reserve and they might get a tenth of the amount of "watchers". Smart buyers look for "no reserve" auctions, smart sellers end auctions at high traffic times.
Just my .02, or I guess .01 with no reserve.

[Barbi Q]

Smart buyers look for "no reserve" auctions

As a buyer, I won't buy from a seller who uses a reserve instead of being honest about their minimum.

[Mike1951]

I use sniping programs to bid on ebay, but the benefit is negated on Gunbroker and many other auction sites. I enter my max bid in the sniping program and it bids seconds before the auction ends. That way I don't pay more than I should and I don't drive the price up by bidding early. Someone's higher automatic bid will trump mine, so I don't always win, but I do control what I spend.

Gunbroker and some other sites automatically extend the auction by 15 minutes or similar to allow other bids, so the sniping is useless.

What I notice on ebay is that there are frequently multiple postings for the same item. I watch all of them and often there will be one that gets few or no bids so I get a deal.

[gigag04]

Amazon prime > ebay