How to Win When Bidding on Auctions

Member

By pvmusic
User-Submitted Article

Article Rating:

(6 Ratings)

Ever lose an auction for something you really wanted in the last few seconds? Wonder how you can get an edge when bidding?

Difficulty: Easy

Instructions

Things You'll Need:

Ebay account
Paypal account

Step 1

Understand the game. The bottom line is that you will lose an auction if someone is willing to pay more than you. However, there is a psychological element to bidding that you can exploit to win more often. Some people hold back the highest amount they would actually be willing to pay and just enter a price they HOPE to get the item for. That's how you lose by .50 in the last 5 seconds. You must always put in the highest bid you would comfortably pay. How much are you really willing to pay for an item? That's your top bid.
Step 2

Now that you know your true top bid, you have to be a bit clever. If your top bid is $70, and there may be a lot of bidding on the item, you need to bump your bid up to a slightly higher number that would beat a similar bidder by a dollar or two. Instead of $70, you would bid $72.77, or something to that effect. You may still lose, but at least you gave it a good try.
Step 3

Bid late. Never bid early in an auction. This does two undesirable things: You drive the price up early, resulting in more attentive and active competition, and you reveal your interest in the item which will cause savvy bidders to up their bids later. You can bid in real time, if you're able, and place your bid in the last 10-15 seconds. Or, if you're not available, use a "sniping" program like Auction Stealer (www.auctionstealer.com), which is a free program that works very well. If you want your bid placed in the absolute last few seconds, you have to pay a one-time fee of a couple of bucks. If you have to win, that's how you do it. By bidding later and with your highest price, you'll win much more often. Don't plan on going back and bidding again if you see someone else bid. First of all, there won't be time and you'll lose anyway. You only get one chance to do this right, and if your bid price or timing are off, you lose.