Bidding Advice - How to Get the Best Prices With Online Auctions

<h1>Bidding Advice - How to Get the Best Prices With Online Auctions</h1><strong>Author: <a title="Edward Smith" href="http://www.articlesbase.com/authors/edward-smith/261625.htm">Edward Smith</a></strong><br /><p>Follow our top tips for internet bidding to ensure that you win the item you want, at the best possible price:</p> <h2>Setting a Budget</h2> <p>Before you make a bid, work out the maximum you want to pay for the item (taking into account shipping charges), and stick to it. It's very easy to get carried away in the excitement of bidding, and find that you have paid much more for the item than it is actually worth.</p> <h2>Reserves</h2> <p>Keep an eye out for an item's reserve status. Sellers may set a minimum price that they are willing to accept; this will be indicated by "Reserve Not Yet Met" or "Reserve Met" status.</p> <h2>Increments</h2> <p>All items have an initial asking price, and subsequent bids will be invited at particular increments, depending on the current price of the item. Increments typically start at around 5 cents for items less than $1, rising to $100 increments when bidding reaches $3,000. For example, an item with a current bid of $18.50 may invite you to make a further bid of at least $19.50.</p> <h2>Bid Figures</h2> <p>Whilst many people place round figure bids, it is worth adding a few pence (or pounds and pence) to your bids. This will give you more chance of winning an item. For example, your bid of $10.17 would beat your competitor's round figure bid of $10.</p> <h2>Proxy Bidding</h2> <p>Although you can bid manually, you may find it more convenient to use the proxy bidding system. This allows you to place the maximum amount you'd be willing to pay for the item, and let the system bid on your behalf. The system will only bid as high as is necessary to keep your winning position.</p> <h2>Sniping</h2> <p>One of the best times to leave your bid is in the closing minutes of the auction. This practice is called 'sniping' and can be very effective, as it does not give the other bidders much time to respond and make a higher bid. For a snipe to be most effective, it should be made in the last few seconds before the auction ends. All auctions have a clock next to them indicating the time left before the auction ends; watch this closely and enter your bid (or proxy bid) in the final few seconds, and you'll hopefully be able to snap up your item.</p> <h2>Other Auctions</h2> <p>Don't make bids on similar items in auctions that are running at the same time. If you win both, you'll be obliged to buy both. This advice stands even if you've been outbid in one of the auctions. The winning bidder may have their bid cancelled, or retracted, which could leave you as the winner of both items. You bid is a binding contract, and failure to fulfil any payment requirements could lead to your exclusion from the site.</p><strong>About the Author:</strong><br /><p>Edward's latest home site gives information on <a href="http://www.intercarpets.co.uk">carpets</a> and <a href="http://www.intercarpets.co.uk/history/timeline.html">crossley carpets</a>.</p><p>Article Source: <a href="http://www.articlesbase.com/">ArticlesBase.com</a> - <a href="http://www.articlesbase.com/internet-articles/bidding-advice-how-to-get-the-best-prices-with-online-auctions-1404496.html" title="Bidding Advice - How to Get the Best Prices With Online Auctions">Bidding Advice - How to Get the Best Prices With Online Auctions</a></p>

Follow our top tips for internet bidding to ensure that you win the item you want, at the best possible price:

Setting a Budget

Before you make a bid, work out the maximum you want to pay for the item (taking into account shipping charges), and stick to it. It's very easy to get carried away in the excitement of bidding, and find that you have paid much more for the item than it is actually worth.

Reserves

Keep an eye out for an item's reserve status. Sellers may set a minimum price that they are willing to accept; this will be indicated by "Reserve Not Yet Met" or "Reserve Met" status.

Increments

All items have an initial asking price, and subsequent bids will be invited at particular increments, depending on the current price of the item. Increments typically start at around 5 cents for items less than $1, rising to $100 increments when bidding reaches $3,000. For example, an item with a current bid of $18.50 may invite you to make a further bid of at least $19.50.

Bid Figures

Whilst many people place round figure bids, it is worth adding a few pence (or pounds and pence) to your bids. This will give you more chance of winning an item. For example, your bid of $10.17 would beat your competitor's round figure bid of $10.

Proxy Bidding

Although you can bid manually, you may find it more convenient to use the proxy bidding system. This allows you to place the maximum amount you'd be willing to pay for the item, and let the system bid on your behalf. The system will only bid as high as is necessary to keep your winning position.

Sniping

One of the best times to leave your bid is in the closing minutes of the auction. This practice is called 'sniping' and can be very effective, as it does not give the other bidders much time to respond and make a higher bid. For a snipe to be most effective, it should be made in the last few seconds before the auction ends. All auctions have a clock next to them indicating the time left before the auction ends; watch this closely and enter your bid (or proxy bid) in the final few seconds, and you'll hopefully be able to snap up your item.

Other Auctions

Don't make bids on similar items in auctions that are running at the same time. If you win both, you'll be obliged to buy both. This advice stands even if you've been outbid in one of the auctions. The winning bidder may have their bid cancelled, or retracted, which could leave you as the winner of both items. You bid is a binding contract, and failure to fulfil any payment requirements could lead to your exclusion from the site.

Edward's latest home site gives information on carpets and crossley carpets.

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