[R-390] auction scams

[Thomas W Leiper]

On Tue, 30 Jul 2002 21:52:22 -0600 "Kenneth Crips" <w7itc@hotmail.com>
writes:
> Do any of you use the automatic bidding
> option or is that a mistake?

I only bid low and early to warn certain fools that
they may be up against me, and keep the auction
in the bid group instead of the watch group. Then,
if I really want it, I ALWAYS snipe bid about
three to ten times the sensible price no earlier than
five seconds before then end...usually two seconds.
But there again, I may not bid super high at all and let
somebody else get stuck with it. It is all based upon
a theorem I devised quite a long time ago that best
describes the probability of winning an auction based
upon the best body of evidence available.

Thomas Bayes