So people on eBay are morons because they're willing to bid more money than you are?
Putting up a sudden high bid is basic strategy in any auction. It weeds out all the lightweights hoping to get lucky with cheap bids, leaving only those who are willing to fight for the item. The problem is that people get the timing wrong. Jumpstart the price too early and you'll start an unnecessary bidding war, and get trampled in a stampede of competitive overpaying. Bide your time until the auction's about to close, and choose a generous amount--because if the bids have stayed low until then, ten other people will have the same idea.

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