Over bidding on ebay

Any item is only as valuable as the winning bidder is prepared to pay. If two or more people want your item then it is the bidders who determine the value. I have a great example of this concept too. A couple of years ago I bought some T shirts from a local charity shop, I didn't want to spend loads of money and got them for £1 each. When I got them home I realised that I had bought one of them completely the wrong size for me and at the time I was listing some things for sale so I photographed the T shirt and added it to the list. I didn't realise at the time that the T shirt that was too small for me was a designer label and as such the T shirt I paid £1 for finally sold for £42. So you see, things are only as valuable as the price the bidders will pay

They don't research. I have gotten items from the $1 store and sold them for $20. And I started them at 99 cents. I love people who don't look for the best deals.

Sometimes they just get caught up in the excitment of bidding. I know that happened to me once or twice. I one time sold a $20 gift card for $20.50. It happens sometimes.

Buyers aren't the only ones. Many sellers have no idea what they're items are worth. They just look for someone else with the same item offered and undercut the price. Many buyers think there is safety in numbers. If someone else wants something and is willing to pay high for it, it must be worth it. They don't stop to think that the other bidder may be thinking along the same lines. It's the principle that makes auctions of all kinds a profitable way to sell things.

I think people either cannot get the item near them so they are willing to pay more to get it or some people may get carried away with bidding itself. Losing an auction or being outbid may give feelings of defeat, so the bidder may keep on bidding just to win. Otherwise, I have seen limited edition items, rare items or regional items go for way more than they sell for retail just because they aren't easily found everywhere.

I overbid on things that are discontinued or that I can't get hold of in the city because I'm more likely to win that way ;) I fight hard on ebay! I once spent £23 on a MAC eyeshadow when it was only £16 brand new.. but I love it, so its OK :)