An Online Auction Guide
Avoid Starting Your Bid Too Low
One important thing you need to do when you are looking to have greater success with your online auctions would be to avoid starting your bids at the lowest possible price. Many assume they are going to score the best deals when they do this. However, everyone has the same mindset. This type of thinking leads to more bidders. Eventually, it results in an all-out bidding war and it drives the price up more than it would have if you bid high initially. The first thing you should do is research a good price for the item before bidding.
From there, you have a good range that you can work with. Then, you can bid more reasonably and make informed bids. Anyone that is looking for the lowest possible price is going to be intimidated by items that already have the price driven up to near retail. Thus, it can lead to them looking elsewhere for more low-hanging fruit. Consequently, this can help you score better deals on your auctions because you’ll have less competition. You want to scare away as many bargain hunters as possible to ensure that you can minimize the amount you have to spend. Winning an online auction on surplus.net
is all about strategy. It’s like playing a game of chess where you need to anticipate your opponent’s move.
Another thing you need to do is be proactive with your bidding efforts. You need to be fully ready to place your bids when they are made. You want to show the competition that you have that you aren’t going to go away. The more bids you make, the more active and serious they’ll know you are. This can ensure that you scare away those looking for minimum competition. You can even study the moves that your competition is making. Figure out when they place their bids and what kind of bidding habits they have. Some people like to bid even and whole numbers. Therefore, if you go into the process knowing that, you can strategically bid odd and uneven numbers to win the auction.
Have a Plan For The End Game
You need to ensure that you are keeping your eye on the prize. The auction will end at a predefined time. Because of this, you need to keep an eye on the clock. You want to know when the auction is ending. There are several things you need to do. For one, you need to come up with a predefined fixed amount of money you are willing to spend on the item. Whenever the auction increases beyond that predefined fixed price, you bow out. Read more about 7 Best Free And Paid Tools To Download YouTube Videos.
Have Good Timing
As mentioned, an auction always has a start and an end date. You need to ensure that you are keeping an eye on the end date. The end date and time are very important. You want to set an alarm or a reminder that will tell you when the auction is about to end. A lot of auctions will be most busy between 5 and 9 pm. This is the case because more people are online and actively bidding. You may want to switch to looking for auctions that end later at night or even early in the morning. These auctions will have less competition and you’ll have a much easier time winning them because of it. Ideally, you want to be ready to snipe auctions as they are ending. It can be very effective to submit bids at the last second. You want to be the highest bid when the clock gets to zero. Sometimes, the best way to do this is by waiting for the timer to run out and shooting your last shot.
Go For Shorter Auctions
A long auction is typically going to have a lot more watchers and people interested in it. After all, the longer an auction goes, the more interest it can generate. You won’t be able to effectively track longer auctions if they go on too long. This can put you at a disadvantage when it comes to winning the auction. Likewise, the prices will go up if there is more competitive bidding for the same item. Ideally, you want to look for shorter auctions where the seller is keen to get rid of the item. These are the listings that have fewer people looking at them which can keep the price from getting too high.