Winning an online auction is a great feeling. If you have paid the price you wanted to pay for an item you really want you feel like you are on top of the world. Of course, the more auctions you win, the more you want to win. A few simple techniques can help you place more successful bids and enjoy the online auction experience even more.
Choosing Online Auctions
The first thing you have to do is decide is a particular item is something you really want to buy. If it is a collectible or a unique item that you are interested in then you will want to pay as much as your budget can handle to win the auction. If, on the other hand, the item is widely available, you will only want to buy it if the price is right. In that case you want to set the highest price you will pay and stick to it, because there will be other opportunities to get the item if the price goes too high this time. If it is a unique item that you really want to win, then you need to get serious about winning it.
First Is Best
If possible, you want to be the first bidder on an online auction. To accomplish this you will have to check the site regularly to see if items of interest are listed. Some sites have an e-mail notification service which will let you know if a specific item is listed. The reason you want to be first is so that you can set the tone of the auction. You want to bid quickly and aggressively. Determine the maximum price you would pay for the item, and then bid just less than that amount. This large bid will scare off most bidders. Quite often you will win the auction with this first bid. If you start with a low bid you will often start a bidding war which will drive the price out of your budget.
Always Bid High
Sometimes you can't be the first bidder. That doesn't mean you can't win. When you bid on an item you enter the highest price you are willing to pay and the system automatically increases your bid above the bids of others until your maximum bid is reached. If you enter almost the highest amount you will pay for the item then you can intimidate other bidders and scare them off. Every time they enter a bid, the system will automatically increase your bid so that it is higher than theirs.
Sniping is the practice of bidding on an item at the last second before the auction ends so that other bidders don't have time to outbid you. It used to be that, in order to do this, you had to manually enter your bid and time it just right. Now there are a number of automated services available which will take care of everything for you. You just enter the item you are bidding on and the maximum amount you will pay and the service does the rest. Your computer doesn't even have to be on at the time. BidSlammer and Auction Sniper are two sniping services.