Yup, here it is 5 a.m. and I am reading nad relating. I am a very smalltime cigar business owner, doing it in protest to high cigar store prices, selling at enough to keep selling low. Watching folks sustain higher prices by overbidding makes me wonder. I bid 2/3 of my wholesale, and sometimes it works, usually not, and pass along the savings. Hail to thee, oh bidding g-d!

Right on! It's your own fault if you bid (and win) at a ridiculously high price. I like kenbone's response in the merchandise area also. Just sit and laugh. Take advantage when you can.

So true. I think that some of the bidders may be from areas that have high tobacco taxes or are in areas with no reasonable cigar stores. Use the net, you'll find many items cheaper.

And I don't think some people care how much they pay as long as they get what they want.

Your right, this forum does not work for those in tune to cigar prices. However this site caters to those merchants who like to nickle and dime, thinking they are getting a great deal. CBID does a great job servicing and that is why they will stick around. Keep freight costs down and consumers will buy right in to this bidding frenzy. Nice marketing job gang.

why DO people overbid on an auction site? lol

I'm new to this forum and have only been bidding at Cbid for 6 weeks now, but I have entered a lot of bids in that time. I rarely see people overbidding (only a few of the top brands get a lot of high bids). I have gotten some incredible bargains so far, usually about half of the list price at CI, even on their specials.
I think sometimes people might just make a mistake with their bid carelessly, bid on a 5pk thinking it's a box or a bundle, or maybe a typo. I also agree with what some others said, sometimes people just want to win the bid and don't care that they've overpaid, but they won't keep doing that on the same item over and over.

If I can wax psychological...

Once you place a bid you've made an emotional investment in the item, you begin to expect the item and desire its posession. For some I think this becomes overwhelming to the point where they can't bear to not own the item.

Anyone who has ever gone back and raised their maximum bid has experienced these feelings to some degree.

djheater

show me your psychologist badge.

but you have nailed it down. i want what i want when i want it. otherwise known as demand feeding.