If there was a way to Pick the Price every time then you can bet collusion is at play! There is no way to know how an auction will end when you can't control whose playing, how much buying power they have, nor how long the auction last. The idea here is to reward those who play the game.
If you play Pick-the-Price, there are some general things to consider like:
1. Type of Auction
2. Time of Day
3. Budget
4. Competition
5. History of that particular auction
All things considered, a TV is worth more than a folding chair but the TV can go for $2.86 and the folding chair can go for over 1/2 of the retail value. There have been auctions where the winner definitely 'lost' more than what they gained. But you have to consider why that bidder won!
In the end, it's a coin toss. That's why there it's great that now you can win from a pool. Pick-the-Price is fun and worth playing. But if someone is hitting the nail on the head too often then something awry is going on. The odds just don't work that way.
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If there was a way to Pick the Price every time then you can bet collusion is at play! There is no way to know how an auction will end when you can't control whose playing, how much buying power they have, nor how long the auction last. The idea here is to reward those who play the game.
If you play Pick-the-Price, there are some general things to consider like:
