Online Bidding Tips 101: A Beginner’s Guide – Part 2

Online Bidding Tips 101: A Beginner’s Guide – Part 2

In part one of our two-part blog post, we briefly discussed the auctioning industry’s transformation from something more local and limited into an innovative platform changed forever by the World Wide Web. We noted that with the change, new auctioning rules needed to be applied. In part 2, we continue our discussion by providing even more beginner tips for bidding online:

Payment Options
Whether it’s eBay or any other auction provider, payment plans can vary. While one company or person may accept PayPal, another could perhaps ask for a cashier’s check. Checks before into what kinds of payments are accepted before the auction actually commences. That way, you won’t be scrambling for a way to pay after you’ve actually won the item.

Understand the Product
Research your product. While asking the auction provider questions about the item is one thing, you need to do your homework outside of the bidding. In other words, how does the item hold up when compared to other items of its kind? Especially if it’s technology, ensure that what you’re bidding on isn’t obsolete unless you’re looking to get some form of collector’s value out of it

Plan a Maximum Price
Plan a strategy before setting forth with an online auction. What’s the maximum price you’re willing to put forth for an item? While you may really want to win something, overpaying isn’t always worth it. After all, it’s your goal to get a fair deal. If you’re not getting a good price on what you’re bidding for, you might as well look elsewhere and let a competing bidder overpay.

You may be responsible for the shipping costs if you win the item. In other auctions, the shipping may be the auction provider’s responsibility. Planning ahead for this extra cost can help you better budget your auctioning strategy.