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Ruger 10/22 Rifle Auction with No Reserve Price!

This is a discussion on Ruger 10/22 Rifle Auction with No Reserve Price! within the OnTargetAuctions.com forums, part of the Forum Sponsors & Commerce category; This is stupid, it's all autobids, it waits til the last couple seconds, then autobids, and starts the clock back at 30 seconds. Then repeat. ...

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Old 01-13-2012, 08:44 PM   #11
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This is stupid, it's all autobids, it waits til the last couple seconds, then autobids, and starts the clock back at 30 seconds. Then repeat. I was curious to see how it ended, now I am bored.

Tim
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Old 01-13-2012, 09:16 PM   #12
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So every time someone bids now, the clock resets to 30 seconds, so essentially it could go on forever, don't really have to have fast fingers, just need to know what your max bid is...

Tim
Yep, in the last 30 seconds of the auction, everytime someone bids, the counter resets to 30 (or so) seconds.

The Ruger just sold for $1.77. The final 30 seconds lasted 45 minutes.
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Old 01-13-2012, 09:17 PM   #13
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Sorry for the double post, but does anyone know who Squady is? Or djbolin, Tyson10 or Houston are? Are you on here?

Congrats to Squady on the win. Those of us on the button at the end, waited just a hair too late. I should have just set the autobidder and be done with it. Oh, that sucked...
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Old 01-13-2012, 09:31 PM   #14
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I think OTA will back me up on this, but I have never been a fan of penny auctions. No matter how many I tried to use, I always felt like I was getting worked over. Whether it was Quibids or any of the other ones out there, starting out is the worst. As they were already established auction sites, you start out way behind everyone else. Your initial out-lay of money is pretty high just to catch-up to where everyone else is. You need bids. They're not free. You're spending money before seeing any reward. This is where strategy comes in.

If you buy the minimum bid package available (25), you're going to spend $24 at OTA. What should you buy first? Bid packages. It's the easiest and cheapest way amass a sizable amount of bids. For instance, recently a 30 bid package was bought for $.20 (+2.00 processing). So, $2.20 later, the winner has 30 bids that he won, plus whatever he has left. So, let's say, it was a 25 bid package that was purchased for $24, plus another $2.20 for 30, minus the, say 6 bids he placed to win the 30. He's now sitting on 49 bids and has spent $26.20. Or about $.50/bid.

I'm going to be honest here. I don't want any of you to join the site. I like you all, but having everyone from here, on there makes it more difficult to win auctions. BUT, the benefit is, as you buy bid packages, the site makes money and they're able to offer more/better equipment along the way.

Do your research. Run the numbers. I won a recent auction for a Leatherman Skeletool. I paid $8.09 (including shipping). I received it about 5 days after the auction closed. I doubt OTA has much of a staff at this point, so for one guy (or a couple guys) to have the service that they have is pretty remarkable.

If you've got some change in the couch cushions, give it a go. Or, do as Bonehead said and watch the site for a while. See the final prices things are getting sold for. The reserves are a pain right now, but when the site starts making more money, I'm sure the reserves will go away. Doing the math, they've got to pay for this stuff before they sell it. It sucks to think of it that way, but it's not like Springfield, Ruger, Glock and the others are just going to give this stuff away for other people to make money off of. It would be nice, but I think we all know better.

Good luck tonight folks!

ok so... 24 bucks for 25 bids then another 2.20 for 30 bids gives you 49 bids for 26.20.

26.20 plus the 8.09 for your tool wouldn't be too bad I guess. I am guessing you might have some bids left to bid for new bids.


also if I understand correctly, the online auction house is selling everything so everyone buying bids would be how they make the money on things they sell.

such as 100 people buying 25 bids for 24 dollars is 2400 dollars so when they burn up the bids on a rifle that's $250 they already made their money before the rifle goes up so it doesn't matter what it actually sells for.

is that correct?
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Old 01-13-2012, 09:34 PM   #15
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CROOKED! DO NOT do business with this auction site. I bet numerous times on this item, then at an arbitrary number my AUTOBID, mind you, was not even taken. Another bidder won, I'm sure it wasn't an aquaintance of OnTargetAuctions. (wink,wink!)
This is just what happened to me. I will not return to this site. YMMV. BE AWARE!
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Old 01-13-2012, 09:43 PM   #16
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CROOKED! DO NOT do business with this auction site. I bet numerous times on this item, then at an arbitrary number my AUTOBID, mind you, was not even taken. Another bidder won, I'm sure it wasn't an aquaintance of OnTargetAuctions. (wink,wink!)
This is just what happened to me. I will not return to this site. YMMV. BE AWARE!

Brewguy says he won stuff from them.

I just like to have stuff figured out before I play
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Old 01-13-2012, 09:54 PM   #17
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Yeah, it's nothing like either. It's an auction. You bid high enough, you win. You don't, lose you. Pretty straight forward. And given that they're a site (XDTalk) sponsor, I would put a great deal of faith in them. Especially as I've won a couple of auctions at OnTarget.

It's not an auction. Not even close. With a real auction you don't have to pay to bid.
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Old 01-13-2012, 09:57 PM   #18
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such as 100 people buying 25 bids for 24 dollars is 2400 dollars so when they burn up the bids on a rifle that's $250 they already made their money before the rifle goes up so it doesn't matter what it actually sells for.

is that correct?

This is spot on^
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Old 01-13-2012, 10:05 PM   #19
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Yep, in the last 30 seconds of the auction, everytime someone bids, the counter resets to 30 (or so) seconds.

This happens all the time on Ebay
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Old 01-13-2012, 10:24 PM   #20
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ok so for every 250 dollar rifle that's sold there are a mass of bidders that already paid at least 24 dollars. so you can have 24 dollars spent and bid up on a rifle that you don't win. and because it sells your bids are gone making you buy more bids. if you have bids left it may be a few dollars or another 24 dollars.

for me there would be a point where I would be spending on bids, not getting to win anything, and I think I may have just been better off to go buy the rifle.

unless the strategy would be to amass bids and throw them all onto the rifle and hope you did more than the next guy.

I can see where this is a "gamble" lol
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