1. Know the value of the product before you bid. If the
productis brand new, check to see what price retailers are
charging for it. Only by doing this will you have any idea what
price to bid. If the item is used or reconditioned, you will
want to pay way less than the retail value.
2. If the product's description or picture isn't detailed enough
for you, contact the merchant to get more information before you
bid. You don't want to take a chance to waste your hard earned
money. Not only this but the way in which the seller responds,
ie promptly, pleasantly, and with full details, or the opposite
of this, will give you more confidence about bidding or you may
decide not to bid at all.
3. Work out the highest price you will bid for the product and
stick with it. Don't get caught up in a bidding war; you may end
up paying more than the product is worth. Add in all the
possible extras such as the shipping costs and any import duties
and taxes (if buying from abroad).
4. Visit a few online auctions before bidding because some
merchants auction the same product on different auction sites.
You may be able to purchase the product for a lower price in an
unpopular auction because there are less bidders.
5. Take a note of the time the auction begins and ends. You also
want to know how long it will take to ship. You need to have
this information if you want the product by a certain date, for
instance, as a gift.
6. Find out about the payment options the merchant accepts
before you bid on their item. If they only accept checks or
money orders, it may take even longer to get the product because
the payment has to clear. If they accept credit cards make sure
they have a secure server
7. Check whether the merchant offers a warranty or money back
guarantee before bidding. You don't want to get stuck with
something that does not work or that you're not satisfied with.
8. Most online auctions allow you to check the merchants'
history with their auction. This is usually their "Feedback"
record. Check to see if people have complained about their
products or business practices before you decide to bid
9. Don't place a bid early in the auction as this only alerts
other potential bidders that you are interested and drives up
the price. Wait until the last moments of an auction before
bidding if you can. Naturally enough the auction site owners
will exhort you to bid early as this is in their best interests,
after all, they get more in fees the more an item makes.
Remember not to go over your maximum bid price.
10. Following on from 9 above this is another reason to know
when the auction ends; you can place a last minute bid. Other
bidders may not be keeping track of when the auction ends or may
not have the time to bid again.
About the author:
George Cuthbert
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