1. Don’t Be To Eager And Enter Your Maximum Bid First

When you enter your maximum bid eBay will initially just show the lowest amount which puts you in a winning position. The problem with entering your maximum amount so early is that you can get impulse buyers who are prepared and want an item to start bidding it up. When they enter their bid and eBay comes back with the message saying that they have been outbid they will keep entering higher figures until they hold the maximum bid. The result of this is that you are quickly out bid. Poof!! Bargain Price is Gone!!

2. Real Estate: Location, Location, Location. eBay: Patience, Patience, Patience

Patience is the name of the game, there is excitement in online auctions and a real sense of achievement when you win the auction. But don’t let that excitement get the better of you, and avoid the ego trip in trying to win all the auctions you take part in.

If you know exactly what you’re looking for, use the ’Advanced Search’ option under the search bar. Enter the item description and tick the box for ’Completed listings only’. From this you will see the previous winning bids for the item you want and it will give you a better idea of how much you should be paying. With that in mind (and taking your own financial situation into consideration) set yourself a limit for highest bid.

If you are bidding on an item and the price goes beyond your target then BE PATIENT and do not make erratic bids. There are millions of items added to eBay each day and unless you are searching for an extremely rare object I can guarantee there will be more of the same items added by other users at a later time. If the item you want is new on the market then the longer you can wait the better. In time the demand will slow down and the supply will increase, as a result the price will come down. A prime example of this is when the nokia 6130 was released. They were selling for over $500 on eBay, I had set myself a target of $250 and added all the listings that I could find to my watch list. The ‘Watch Item’ function is excellent and you should definitely use it. Instead of making bids you can add items to your watch list. eBay will then notify you by email when an auction is coming to the end. You can then check the price and make up your mind if it is cheap enough for you to outbid it.

If you think you’re on to a winner (price wise) then enter your bid when there is only about 20 seconds left. That way you don’t give competitors any time to outbid you and you should win the bid.

3. Read All The Auction Listing Details

This is common sense but read before you buy! Many people skip this and end up buying goods that might have high shipping costs, not new condition etc… Read the full item description, read the feedback that the seller has received from previous buyers and read the postage, payment and return policy. At search level some items seem to be cheaper than others but the first thing to look at is the condition column on the actual product page. The chances are that the other ones are ‘new’ and the cheapest one is ‘used’. So check this out before making a bid.

Be aware of the seller’s feedback rating. If the seller has no feedback then don’t buy from them. For low selling price items check out the postage cost. People often make their profit from that if there is very little profit on the sale price. Trust your instincts, if something sounds strange then don’t buy. The same item will appear again on eBay.