How to Get the Best Price at an Online Auction
Online Auction Deals are Good – You Can Make Them Better
It’s no surprise that an online auction is one of the best ways to get a great deal on the Internet. What most people don’t know is that there are ways you can make your online auction deal hunting even more successful. Follow these tips and you’re sure to get the hottest items at the lowest prices.
Bid at the Right Time
When it comes to online auctions, the same thing can sell at two drastically different prices. For example, a hot new game system might sell for two-hundred dollars at one online auction and for four-hundred dollars at another. What’s the difference? It’s a good probability it has to do with the time the auction ended.
If you want to get the best price at an online auction, you want to be bidding when very few people are online. For example, an item in an online auction ending at four in the morning on a Sunday is going to sell for less than the same item in an online auction ending at seven on Wednesday evening. Either bid in the wee hours of the morning or bid in the afternoon when most people are at work.
Forget That “Bid Early, Bid Often” Mumbo Jumbo
The only people who are going to tell you to bid early and bid often are the people who want to profit from the auction. Any true auction expert knows it’s best to bid in the very last seconds of an online auction.
On a site like eBay you bid on a proxy system. This means when you bid on an online auction at that site, no matter how much you bid, the bid amount you pay is only the bid needed to become the next highest bidder. For example, an item could currently be selling at ten dollars. You could bid one-hundred dollars in the very last section of the auction, but if the highest bid required to be the high bidder was fifteen dollars, that’s all you’d pay. To get the best deal, enter the maximum amount you’d be willing to spend on the item and do it in the last seconds of the auction. This will ensure no one has the time to outbid you and you won’t get stuck in a crazy bidding war.