PhilOhio,
You got that right!
Funny thing I've noticed about auctions (and I've been to many over the years) is that a good portion of the folks who bid on a particular item might not really want the item, they just want the "thrill" of winning. Kinda like hunting for a parking space at the mall, we are all hunters in our own right.
Those who "auction" consist of the people who really want the item and those who (having many problems in their lives) just "want to win".
In order to feel like a winner, they bid the price up beyond the items actual value thus guaranteeing their "superiority" over other bidders. It's kind of pathetic watching them, but some people are like that. It takes all kinds!
Those who attend auctions on a regular basis know exactly what I am talking about.I've even had some approach me before the bidding is over.....as I drop out they ask me if I won't reconsider (at the realization that they will end up paying for something they don't want!) and a couple who worked their way over to me apparently to visually "see" my responses as they bested my bids (I have a series of canned "faces" for these folks....). I also have had some offer to sell me the item after they win it for more than it is worth, and some bargains can be had here.
One must learn how to "read" these people or else you will spend way more than you need to.
The biggest problems with online auctions is that you can't see whom you are bidding against. It's impossible to "read" their faces and this is precisely why they are such a great way to maximize your return on any given item, but more often than not they are a poor place to get a bargain, as there may be several "winner-wannabes" bidding on a given item.
Once in awhile you'll get lucky. Know what you are bidding on, know the value of that item and set a maximum that you are willing to go. Learn to stop yourself when you reach that number and DO NOT go over!! You will get better deals and burned less often. You'll have more fun, too!
BTW, I bid on lots of stuff.....I bid low and occasionally I get a real deal that I can smile about for a long time!
Ya gotta have fun with it!!
john