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Bidding on eBay
>A few techniques and how they stack up.
My take on
bidding For what it's worth.
Ok, I have
been on both sides of the isle when
it comes to eBay. Both a buyer and
a
seller and I have seen just how many
bid with no real knowledge of what
they are doing and those that seem
to have a handle on just what is
needed to win an auction. As
a seller you can watch the bidding
process and see just how and who
is bidding. I have also found some
things that work and some that do
not. This is not a comprehensive list
of how to bid on eBay. If your looking
for that buy someone's book on
Amazon. I just have a few ideas I'd
like to share.
If you are one of those who are so wealthy
you don't know how to waste your money
you
need not read this as you obviously
have
no concern of losing an auction as
you can
throw away whatever amount you want.
For
those of you who, like me, would like
to
get as fair a price as possible then
read
on and be aware there are those with
deep
pockets who will take you out, no matter
what. There are also those who refuse
to
lose and they will bid far beyond an
items
worth as they cannot stand the thought
of
losing though they may kick themselves
later
To get a fair
price and we would hope the best
price you should be willing to do some
research before bidding. When you
log onto your eBay account go to
‘completed auctions’ and look up
the item you are bidding on. Most
likely you will find the same or
similar and you will find a range of
prices for that item. Some low, some
high and all for the same item. Now
what makes an item draw so many differing
prices?
Well a lot of different things. When the
auction took place is a major factor
as many
people are home on the weekends and
in the
evening and prime time for many is
Sunday
afternoon and evening. Many items listed
to close on the weekend or evening
will draw
more bidders and therefore higher prices.
Always look for items that close at
odd hours
like early morning on a weekday. You
will
have less competition.
Look at the
average price and figure that you
most likely will be spending at least
that much. If there have been a lot
of auctions for that particular item
it is more than likely there will
be even more in the future so do not
be too quick to go for broke as there
will be another auction coming
along soon enough.
Some things to
watch out for here. A lot of companies
will buy store closeouts and
large companies that are getting
new computers will sell all their old
to a reseller. Many times they have
a limited supply and so you may have
50 epson photo 925 printers go off
at anywhere from $12.00 to $40.00 but
when they are gone there will be
considerably less on the market. Maybe
none at all, so you will want to
see if the sales were in a two or three
week time frame or spread out more
evenly as that would indicate
individuals selling and not big company
resellers. This would also lead
one to the conclusion that there
will be more sales to come instead
of
the market drying up.
Another thing
to note is that many of the best
prices are had from resellers as they
have lower positive remarks and generally
place huge volumes of the same
item on the block. They sell so much
that in volume alone they make
money so they do not worry too much
if you have to wait a few extra days
or if the item they sold you is defective.
The better price is not
always the best deal. I have found
that individuals with at least 50
sales under their belt with a good
positive feed back will most often
give you the best service and the
better quality merchandise.
Another thing
to look for is people selling the
same item over and over usually with
a
buy it now. Sometimes they will place
the item on auction and sometimes
they will always place the item at
auction with a reserve. Many will send
you a ‘second chance’ offer at your
bid if you lose cause they just
want to sell the items, and though
your bid was less than the winner it
was still in the profitable range
for the seller. I got a copy of
Quicken 2006 this way. I bid the
minimum and then did no more.
Eventually it was bid up another
$15.00 or so but shortly after the
sale
I got a second chance offer at my
original bid. I saved $15.00. I’m
sure that everyone who bid also got
the second chance at whatever their
highest bid was. The next auction
would have gone the same way.
However if the
item you are looking at is a one
of a kind and there are no comparables
then you have to set a price in your
mind you are willing to go to and
no more, win or lose. If the item
is something you HAVE to have at ANY
cost then place your highest amount
you’d pay with eBay and let them
keep increasing the bid. Odds are
if you placed $10,000,000.00 on a
toothbrush you will most likely be
the winner at somewhere around $1.50.
But by placing that totally unreasonable
price you guaranteed you would
get the item. So long as price is
not at issue then why bother sniping
or bidding at all. Just place your
highest bid amount with eBay and let
them bid for you. Personally there
is nothing in this world I have to
have so badly that I am not going
to try and get a deal on it. Even if
I
was rich I wouldn’t just throw money
away.
Note the location of the item. If it is on
the west coast those who live on the
east
coast are at a disadvantage cause shipping
will be higher and vise-versa. Items
in the
mid-west are cheaper for the mid states
but
equal to west and east coast. If we
are looking
at international then you just have
to live
with high shipping and expect to pay
more
on that. This is hard to really place
any
value on as I have had most of my sales
go
all the way to the east coast or overseas.
Seldom was anything bought by a west
coaster
even though shipping would have been
a bit
cheaper.
Also note the
shipping charges. Some will sell
an item for a penny but hit you with
$29.99 shipping. They do this for
2 reasons. 1. eBay final value fees
are based on the final sales price,
less shipping so if the item goes
for a penny they pay the minimum.
If they had tried to sell it at $15.00
and then shipping their fees would
have been higher. Do not try to do
this as a seller. Cause, though you
may get away with it a couple times,
eventually eBay will notice and cancel
your account. But as a buyer that
shipping charge is just as important
as the bid amount. You NEED to
figure it into your bid. And 2 is
the fact that a lot of people do not
figure that shipping charge into
their bid. They see the penny or $0.99
and place a bid before looking to
see what shipping is. Now if you place
a bid you are obligated to follow
through. The seller can let you off
the hook if he wants but if he is
playing this game most likely he
won’t and you are stuck paying a
lot more than you thought for an
item. Always look at that shipping
charge. It also may be the reason
some items in the completed auctions
went off so cheap. Could be the
seller made it up on the shipping.
Anyway do the
research and do not be impulsive.
Yes there are a lot of one of a kinds
and I have sold a few myself but
for the most part there are more items
sold that are not one of a kinds
and if you are willing to wait you
might get a better price.
OK another
thing to look for is misspellings.
Yes many do not know how to spell.
Many are in a hurry and hit the wrong
key or do not press it firmly
enough and many do not proof their
ad. So in effect there are many
misspelled words in many ads and
this could lead you to some good buys.
Many do not use any word processor
with spell check and so the item is
listed wrong. Like say for instance
I wanted to buy a ‘propane
cylinder’ and so I look for common
misspellings. I might look for
cilinder or propan. If I find listings
that have misspelled words the
likelihood increases that I will
not have as many or any bidders with
which to contend with. There are
now nifty little programs on the net
that will allow you to type in any
word and it will come up with a huge
amount of misspellings and will also
search eBay for them. This makes it
much easier to find misspellings
than when I first started. Actually
there are several and I will list
a couple free ones here:
http://www.typo-shark.com/
http://www.auctionintelligence.com/
Just Google
for ‘eBay misspelled’ and you will
get several more. While writing
this I typed in cylinder to typo-shark
and it came back with 46
misspelled listings. Now there are
sellers who know the most common
misspellings and do put these misspelled
words in on purpose. And a
search for ‘propane cilinder’ will
still yield hits for those
who search for ‘propane’, but those
who search for 'propane
cylinder' will not get the aforementioned
misspelled search results, so do not
think
you will be the only
person to bid, just possibly we might
have eliminated 50% of the
competition or more.
Ok now let us
get into some bidding techniques.
I cannot endorse one over another
cause at one time or other I have
used all and have at times gotten a
good buy and at others have not.
But by doing the research I’ve
outlined above and using a technique
I am about to tell you of you may
be able to beat the odds.
I wrote this a while ago and was talking
of my own ads, or rather the wife’s
ads,
running on ebay, but they will apply
to anyone
else as well. Perhaps they may not
host their
own pics but the total size of the
listing
will have an impact on the refresh
time.
If you are on dialup you need to take
this
into account more so than a person
on broadband.
Anyway read on and I will try to make
changes
so it makes sense to you.
Always bid in
odd amounts. Many bid as eBay advances
in round amounts like 50 cents or
$1.00 increments. If your max bid
on an item is say $25.00 any bid over
that will win so if a person placed
a bid at $25.03 they just beat you
by 3 cents. Always make your bid
some odd number so that you have the
opportunity to steal it away for
just a few pennies extra. If you are
willing to pay $25.50 for an item
try placing your final snipe or bid
at
$25.68. That is only 18 cents over
your highest price and if the other
guy bid $25.50 or even added a few
pennies like $25.57 you will be the
winner. Also bear in mind that century
marks are sometimes a barrier
that few will cross. like for instance
even numbers like $20.00, $30,00
more common $50.00 and $100.00 so
a bid of $106.97 is more likely to
win
at close to $100.00 than a bid of
$99.97
Most people want instant gratification so
they go to ebay late in the afternoon
or
evening and look to see what is available
and then bid on the item they want
with the
item closing in an hour or less. They
may
wait to snipe at the end. The problem
with
this is you have no time to research
either
the item or the competition. I already
wrote
of researching an item but what of
the competition.
Well use their handle and look them
up. See
what times of the day they are active
bidders
and what items they bid on and how
much they
pay on average. If you are up against
an
avid Beer Sign collector that bids
weekends
and pays dearly then you may want to
let
him have this one and look for another
that
is closing on a weekday in the morning
so
that this particular person will not
be your
competition. It could save you a few
dollars.
But if the item is one you absolutely
have
to have be sure to make a high snipe
at the
end as you know your competition is
going
to do the same.
Bid the
minimum early. ONLY the minimum.
Biding up will only serve to increase
the price. Do not worry if you are
out bid, you just want the
opportunity to get it at the lowest
price 'if 'no one else bids and to
see if there is any competition,
though MANY wait to snipe at the end.
Many will not bid if someone already
has, they run scared that they have
competition. This is especially true
if there is a lot of the same item
listed. They will figure you have
placed a higher bid and all they will
be doing is running up the price
they would be better off biding on
the
next item that has no bids on it
than to bid on an item that already
has
a bid. If no one else bids you get
it for the lowest price possible. But
remember most will wait till the
end of an auction to bid so be prepared
to bid at the end with your highest
offer. You will not be bidding
against yourself. Only if another
bid comes into play will your snipe
be
recorded.
>Many wait to snipe at the
last moment hoping to steal it away
from you so be prepared to snipe as
well. This is tricky because those
of us on high speed broadband have
an
advantage. We can refresh the page
much faster and our bid can be sent
in the last second or two of the
auction. But even dialup can get in
on
it if you play it right. You just
need to know how long it takes for
your computer to refresh and how
long to send the bid. If you intend
to
snipe at the very end, as many do,
bear in mind I have several pics and
a lot of text, And I host my own
pics so they have to come off a
different server, not eBay. So refreshing
the page may take time. If a
lot of people are refreshing the
page at the same time it may take
longer. I do not have dialup, so
cannot say how long it will take to
refresh the page if my server is
getting slammed.
(FYI. When you hit the refresh button
the
query goes to the server and the pics
come
from there instead of off your temporary
internet files as they would if you
just
hit the back button. A refresh is like
looking
for an updated version of the page,
which
is what you want. That is to get the
new
bid price. And that means everything;
bids,
time left, text, and pics. If a lot
are refreshing
quite often it will slow the server
causing
Anyway, You may not be able to place
your highest bid at the last
second, if you do not have the timing
right. I've had as many as 117+
watchers on a single item and most
everyone bid at the end. I've gotten
a few emails that say they bid higher
than eBay registered the item
closed at. I can do nothing about
that, as a late bid will not be
entered by eBay and I am obligated
to sell to the highest bidder eBay
records. So if you snipe make sure
your timing is precise.
(FYI. They now
have programs that will place a snipe
for you. They are not that
expensive and I'm sure some use them.
I do not know how effective they
are but the one thing they all have
in common is having that timing down
to the last millisecond. So if you
intend to snipe manually you either
have to be lucky or make a higher
bid. many of these computer generated
bids can snipe 2 or 3 times in the
last second as they do not have to
manually post the bid and confirm
it and send it. Or rather they
do have to do all this, but they
do it at computer fast speed so are
able to up the snipe in nanoseconds
where as you only get the one
chance.)
You always place the highest bid
you feel comfortable with when you
snipe because you will not get another
chance, but never bid more or you
will wind up kicking yourself. Never
forget to figure shipping and any
and all other cost factors into that
bid.
Now I have
done some research and read what
others have to say and a predominant
issue comes up. That is that 'they'
say it does not matter if you snipe
or not, that you just place your
highest price you are willing to bid
within the last couple of minutes
of the auction and let ebay bid for
you. NO! What this does is give the
competition time to continue upping
their bid till they win out over
you by mere pennies. Either snipe with
your highest offer at the very end
of the auction or place a bid with
ebay less than your max and then
snipe at the end. You will not win
every auction as there is always
someone who is willing to pay more.
What it comes down to most often
is the research you do and your
knowledge of the bidding process.
If you don't win do not say, "OH
if I'd just gone another 50
cents". The thing is you have
no idea what the other bidder has
placed as their highest bid. It may
appear that for just another 50
cents it could have been yours but
you don't know if the other bidder
placed a high bid $20.00 over yours.
You just bid the highest you are
willing to pay and feel good about
it. If you don't win, don't feel bad.
You gave it your best shot.
Also ALWAYS figure shipping into
that bid amount as some will list
at 99 cents but charge $30.00 shipping
and others will charge $9.99 for
the item but just $6.00 shipping.
Also remember insurance only
covers the purchase price so if you
get the item for $2.00 that is the
most USPS will reimburse even if
the shipping was $30.00.
Some sellers will probably be upset
I told you this.
But I do not want to have to go through
a bid retraction or mutual
withdrawal because a bidder got caught
up in the moment and bid higher
than they wanted and doesn't want
to follow through as a result.
Pay no mind to the hit counter. I've
had hundreds of hits on an item and
no bids or no watchers with just
one bid, and I've had just a handful
of
hits and most become watchers and
most bid in the end. The hit counter
does not reflect how much action
an item will get or how high the price
will go. The hit counter is a seller
tool to let us know if we have
worded our title right to get the
most traffic. That traffic does not
always correlate to bidders.
I've also had items with a dozen
watchers and sometimes no bids at all.
Sometimes people place things in
their watch list only to see what it
sells for as they have a similar
item they want to list. In my current
auction (as I write this excerpt)
I have an item with 9 watchers and
no
bids with less than 24 hours left.
Whoever places the highest bid in
that last second will win. Yet I
know everyone is probably thinking
that
they are the only ones interested
and they will bid low in the end and
get it cheap. Then there is that
person who has made up their mind they
are willing to go to a certain price
and will eventually place that highest
bid
with ebay and when everyone snipes
at the end, if his bid is greater he
will win out and all those snipers
will be saying damn. Someone will
win, but any one person only has
a one in nine chance right now and
I'm
picking up watchers all the time.
I'll pick up more as the item nears
the close. I always do cause many
search for items ending soonest cause
they
do not want to wait days for the
auction to end, they want instant gratification.
Most bidders
seldom will look at items more than
3 or 4 hours away as they want to be
bidding now, not days from now. Some
more patient will take the time to
do the research and find those items
they want to bid on days in advance
and either place a minimum bid or
place the item in their watch list.
Others
are collectors and are always looking
for
that prize
item to add to there collection.
I have another item that has 1
bid, but 7 watchers waiting for that
inevitable snipe. It is interesting
to see how people play the game.
But however you play it make sure you
leave room for that last second snipe,
or if you bid early place a high
enough bid with ebay so you won't
have to worry about it.
Personally I bid low in the beginning to
scare off the weak and snipe high (or as
high as I willing to go) in the last to nail
the item. (Most of the time)
Now this is the way I bid, I am not
saying
it is the right way or the best way
and certainly
not the only way. It does, however,
seem
to be the most popular way, judging
from
what I see in my auctions.
I know some who bid high early to
dissuade others, as every time a new
bidder feels the waters with another
bid the current or first bidder is
still on top, people figure this
person is serious and so they move
on.
This works too, but be prepared to
snipe anyway as some will wait it out
till the end. I know many who only
bid in the last seconds of the
Auction. This works if you are prepared
to go high enough or you have no
competition who will be bidding higher
than you.
I know others who duel it out all
through the Auction (I for one on
some auctions.) I bid till I’ve
driven off the competition then still
have a bit in reserve to snipe in
the end. I win more often than not,
using this strategy but I think I
pay more in the end. But it's like
going to Vegas; I like the excitement
of bidding as much as winning. And
I still set a limit to how high I
will go.
I know some who place their
highest bid with eBay and walk away
letting eBay do the bidding. This is a perfectly sound and
viable way to bid. Let us look at
the advantage. Every time someone bids
you are always on top. Unless the
bidder is willing to push the limit
they will give up far short of the
highest bid cause they figure you
want it so bad you already placed
a high bid that will not fall, though
do not become over confidant as there
is always someone waiting in the
wings to spoil even the best of plans.
Another is to
place a high bid a few dollars short
of your final offer. Then let
someone take you out if they want
and come back with that snipe at the
end.
There are good and bad points to
every strategy. The bad to mine is
I have to get the timing just right
and I have to bid my highest at the
last and hope no one out bids me.
I’ve lost more than my share of Auctions
because unlike other styles
mine is an all or nothing and many
times it is nothing. Sometimes I feel
"If I'd just bid more earlier
the competition might have faded
away" or " If I'd bid higher
in time to make a second bid at
least I'd know where I stand and
maybe I could have stepped up and got
it." But my style ensures I
won't have buyers remorse that I
overpaid, and if I lose, which I
do more often than not when using this
all or nothing at the very end approach,
well like anything else you
pick yourself up, dust off and move
on. Life is to short to worry over
the small stuff.
Of course if
the item is a one of a kind and you
really want it... I make that snipe
a biggy, to ensure I get it. This
doesn't happen often as really there
is a lot that is listed and a one
of a kind is seldom and far between.
But there are exceptions.
As a Seller I see that most wait
to snipe. Many of my listings have
watchers till the last. I also see
that the watchers drop like flies
doused in bug repellent as an item
is bid up. I've had as many as 20
watchers whittled to 2 by auction
close, so maybe my style isn't the
best. But everyone must choose for
themselves what works for them. Just
remember to always include shipping
and insurance if you want it and
never bid more than you are willing
to pay cause you will regret it
later.
added Dec 13, 2006 -- I recently sold
a model
T firetruck for a relative. We had
over 4500
hits and 200 watchers and like just
17 bids.
The bidding ended a day or more before
the
auction closed as no one else stepped
up
to the plate. The buyer was Ecstatic
they
got the truck so cheap and we were
happy
as it sold for $650.00 over our reserve.
During the auction I got 3 emails asking
if I would sell it outright but they
made
no offer only asked what I wanted.
Obviously
the reserve was what we would settle
for
and once that was met it was up to
them to
make an offer or bid. After the auction
closed
I got an email asking if I was going
to list
it again as they were out of town and
did
not get a chance to bid. Well it was
sold
so no It won't be listed again and
if you
really wanted to bid you should have
placed
a bid with eBay and let them bid for
you
if you were going to be out of town.
I got another email saying they tried to
place a bid but ebay closed the auction on
them before accepting the bid. Well I had
34 pics plus a long description and if you
were on dialup it probably took a couple
seconds or maybe a minute or two for the
page to load and if you were going to snipe
at the end you needed to figure the load
time on a refresh as with 117 watchers they
most likely were all hitting the refresh
to see what the item closed at. I host my
pics on my website and if the server gets
slammed it slows down. I have since decided
to have only 4 to 6 pics on ebay for faster
load times for dial up users.
But in the case of this one of a kind
model T fire truck I had to have a
lot of
pics to show it off.
I honestly believe that many
would have been more than happy to
pay more but seeing 4500 hits
they
most likely said to themselves that
they
would
never be able to get it and so did
not bid. The price we got, though
satisfying to us, was not even the
cost of the model T parts much less
all the extras and the fact it ran
and worked perfectly. The buyer came
up from Oregon with a flatbed truck
and drove it on, strapped it down,
loaded the extra wheels and fire
equipment and engine and tranny and
said he felt like he had just robbed
us, as he couldn’t believe he had
gotten so much for so little. He
said he was prepared to have gone
double what he paid. I’m sure others
would have as well so having a
hit counter does not always reward
you and in fact may hurt. Just
remember that the hits do not correlate
into bids they just acknowledge
that the seller has worded his title
to get the most possible views.
Anyway what I'm getting at is Ebay
will only accept the last bid entered
at the close of the auction and if
you snipe make sure your timing is
right. 2nd If you are going out of
town or there is a possibility you
won't be available to snipe place
a bid with ebay. Ebay bids in
increments depending on price up
to your max amount. If you place a
bid
of $10,000.00 on an item and the
next closest bid is $200.00 you will
buy the item at $205.00 not the $10,000.00
you bid. The guy that tried
to snipe said his bid was several
hundred over what the fire truck sold
for. Well you should have placed
it sooner or got the timing better
on
the snipe. Bidding on ebay can be
an art form or a simple place your
highest bid early and hope no one
out bids you. Your choice but I have
no control, so please do not complain
to me if your bid did not win.
OK. This is
the end of what I had written to
help buyers when I was actively selling
on eBay. I do not sell on eBay much
now. We use it more as our clearance
rack than to make money, finding
though we sell less through our
website, we get higher prices. It
costs us nothing to have an item sit
for years on the website and eventually
it either sells or we clearance
it on eBay. At times we make more
on ebay than we had the item listed
for on the website but this is a
rare occasion. Usually we come in close
to what we had it listed for or barely
get it sold at the listing price.
It can drive
you up a wall, some of the things
that happen on ebay. Once we listed
3
dolls and got not one bid. The next
week we relisted at the same price
and sold all 3 at much more than
we thought. I mean we had each listed
at $9.99 and one went for $36.00
and the other 2 in the $25.00 range.
Sometimes you get just the minimum
bid and at others you get much more
than you ever considered possible.
And about 40% of the time an item
will not sell the first time it is
listed but sell the next. It really
depends on who is online and sees
the listing and just how bad they want
it.
Once we had
a peignoir set listed on our website
for $78.00 and it sat there for
over a year so we decided to ebay
it. We started the bidding at $24.99
and eventually it sold for over a
hundred dollars. Much more than we
had
it on the site for. Usually if we
place items on ebay it is either cause
they have something wrong with them
which we disclose in the listing and
sell 'as is' or it is something that
has sat on the website and we just
want to make a few bucks so we throw
it on ebay cause we know it will
sell. We always list at a profit
and even if it sells at the minimum
we
make money though usually not very
much; just enough to cover costs plus
a couple dollars.
>EBay is all
over the map and you just never know
what you are going to get on any
particular item. As a buyer you want
to look for those items closing at
off peak hours and those with misspelled
words. Try to get that 1st
bid then come over the top with a
snipe at the end. Always set you max
price before making that last bid
and bid that max as you will not get
another chance. If you are outbid
look for the next item and forget the
one you lost. If you are torn up
about losing cause you were willing
to
go higher then you made a mistake
as you should have bid higher but if
you are torn up cause you lost but
were not willing to go higher just
let it go as there is no use crying
about it you just lost and that’s
all now move on. Never bid more than
you are willing to pay as you will
be kicking yourself for quite awhile
for doing so.
If you do
your research in the completed auctions
you should have a good idea as
to what the going rate is and how
often this particular item comes up
for bid. If it is rare you might
want to bid higher but if it is often
just plod along and eventually you
will win out.
There are
scams out there and I cannot tell
you of all that you need to do to
avoid them, as even the best of us
will fall prey to a bad seller and
as
a seller we can fall prey to a bad
buyer. Do your research and you will
increase your odds of winning and
getting a trustworthy seller. As a
seller also look at your buyers and
if they look like they are going to
be trouble block them from your auctions.
I personally have a long list
of blocked buyers, not that more
than a couple gave me trouble but in
my
research I found many I would not
want to deal with and so added their
names even though I had never had
them bid on any of my listings. Sort
of culling the heard a bit for the
betterment of all concerned.
As I said
this is a quick and simple course
to get you started. There is a lot
more I could say about being a buyer
and a seller and having to deal
with both sides of that issue. I
could talk of some of eBay’s rules
and a bit of Paypal too but I didn’t
set out to write a book only to
give you a chance at getting a bit
better price and finding a bargain.
I
hope I have done that.
Good
luck and happy bidding
Robert Taormina
Webmaster
www.vintageslips4u.com
Vintage lingerie as well as other clothing and accessories
www.cpfsn.org
A
site devoted to helping support Children with Disabilities and their families
/ caregivers
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