Before you Bid
There are a few things that you should do before you hit that submit bid button. Here are the following tips from our experts:
1: Learn About the Item: Before placing a bid, make sure you read the entire description to fully understand what the seller is offering. Some factors to consider are:
- How well the item is described: If measurements are included, get out a tape measure or ruler to see how big the item will be. If it's for clothes or shoes, compare that measurement to your body. Don't be afraid to ask the seller any questions about the item's precise measurements.
- The condition of the item: If the listing does not mention the condition of the item, be sure to ask the seller about the item's condition before you bid.
- Shipping costs: Make sure they only charge you for the actual shipping cost.
- Types of payment the seller is willing to accept: Make sure that the seller accepts your preferred form of payment. Find out if they take money orders or personal checks or credit cards.
2: Learn About the Seller: As a bidder, it is important for you to learn about the seller before bidding. A seller's feedback rating is located to the right of his or her User Id near the top of the Item Page. Click the numbered rating to view all feedback left by eBay members who have dealt with this seller before.
Make sure the seller doesn't have an excessive amount of negative comments on his/her record. If he does have a negative mark or two and you really want the item, e-mail the seller and ask for an explanation of what lead up to the negative feedback.
And finally, before you bid is the time to make sure that you really want (and can afford) the item. If you are the high bidder, you are legally required to purchase the item (unless you did not meet the seller's reserve price). So only bid on things you really want to buy, and follow through with your bid.
How to Bid
The actual bidding process is fairly simple. When you are ready to bid on an item, write down the auction number.
To place your bid, go to the bottom of the page, enter your user id and password and the maximum you'd be willing to pay.
Now let's discuss bidding strategy. There are two basic kinds of bidding strategies that depend upon how aggressive you want to be.
1. Set the true maximum bid at the beginning. Put in your best offer and see how the auction unfolds. Or,
2. Hold off placing your bid until the last minute and decide then if you can still get it at a reasonable price.
Each of these bidding strategies have been used with success so feel free to select the best strategy for you and stick with it.
After you Bid
So you're the winning bidder? Congratulations! Wondering what you should do now? Read our step-by-step outline of the process for successfully closing the deal below.
1. Print out a copy of the winning auction page and keep it until the item arrives. If there is a picture of the item, save a copy of it onto your hard drive to compare with your purchase when it arrives.
2. Communicate with the seller as soon as possible via email after you win an auction. In your communication, be as polite and detailed as possible as you request the seller's address so that you can send the payment. Verify the cost of shipping and request insurance or express mail if you so desire it.
3. Put your payment in the mail no later than 3 days after winning the auction. Ideally, you should put the payment in the mail the day after winning the auction or as soon as you receive the seller's snail mail address (whichever comes first). To avoid confusion, (since many sellers conduct hundreds of transactions per day) write your auction number and item description on the check.
4. Email the seller to verify that you have mailed your payment. This step is necessary in letting the seller know that you are reliable and serious about conducting the transaction in as timely a manner as possible. This will save you a lot of extra headaches and worries.
5. Open and inspect your item when it arrives. Look over your item carefully to ensure that it is in good condition and has not suffered any damage from shipping.
6. Email seller that you have received the item. If there is a problem with the shipped item, inform the seller in an unemotional manner. Give the seller an opportunity to rectify the matter before leaving negative feedback. If everything is fine, a simple thank you will suffice.
7. Leave feedback on the seller. Keep your comments as short and to the point as possible.
Tips
Here are a few more bidding and buying tips to ensure that you get the best deal on eBay.
Research thoroughly. Make sure you know the true value of an item before you offer a bid. Research the price of similar items offline; sometimes, you can find what you're looking for at a discount store or in a catalog or at another online site. Shop around, and don't assume that the price you see at an auction is always the best deal available.
Know when to stop. Don't automatically re-bid just because you've been outbid. It's too easy to get caught up in the excitement of a fast-paced auction. Learn how to keep your cool and above all, know when to say no.
Don't be controlled by the automatic bidding software. If two or more people are bidding on the same item, the proxy bidding software used by most online auctions can automatically (and quickly) rocket up the price. The solution? Make sure your maximum bid is the same price as the next incremental bid and no higher. It might take a bit more work, but it puts you in total control of the bidding process.
Look for last-minute bargains by checking eBay's "auctions ending today" page for the best buys. Scan the list for items with no bids or few bids, and pick off some bargains that have escaped others' attention.
Look for auctions that close off-peak. Peak closing hours are weekend evenings around 5-6 p.m. Pacific time. Most auction bidding occurs in the last 48 hours.
Use creative search techniques, such as searching for the item you desire by adding a few spelling errors. A mistake on the seller's part could mean huge savings for you.
Bid in Odd Numbers. Instead of bidding an even amount, bid a few pennies more; for example, if you want to bid $10, bid $10.03 instead. That way, your bid will beat any bids at the same approximate amount—$10.03 beats $10 even any day—without your having to place a new bid at the next whole bid increment.
Monitor the closing. Don't get outbid at the last minute. Most auction activity occurs at the very end of the auction. Track the last hour of your most important auctions, and be prepared to react quickly to last-second bidders and snipers. Just remember to hit the "reload" button on your browser frequently, to keep the item listing page up-to-date with the latest bids!
Next: Selling
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