How does "bidding late" work to keep the price down? RWTF
It doesn't. But bidding early and often gives the competition lots of time to think things over, and time to decide to bid higher and higher. I feel it is stupid to bid early if you are interested in winning something at auction for the lowest possible price. You might as well play poker with your cards turned facing the other players.
The people who bid early in auctions are often those same fools who are resigned to the notion that it is perfectly normal to lose money when buying guns.
