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  Bidding and Auction Strategies

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hupodai
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Join date : 2012-03-09

PostSubject: Bidding and Auction Strategies   Mon Mar 12, 2012 4:54 pm

Bidding is part fun and part pain. You win an item, all seems well and good and thrilling. You lose the item, everything around seems blue. In order to win online bid auctions, you have to adopt and follow some basic online bidding strategies. Once you’ve done this, there’s no way stopping you from winning the next auction! Here are the seven simple strategies to follow.
1. Bid Early On: It’s always good to bid early on an item, because most users won’t bid on items that already have many bidders. There’s no point of lingering until the last few seconds to bid. So as soon as you’ve decided that you need a certain item, just bid on it.
2. Don’t Poke Your Nose on an Item with High Competition: If you see a long line of bidders behind YOUR desired item, forget about it. Normally, highly competitive bids give you lesser chances of winning and it’s better if you find the similar item at some other bidding website.
3. Make Multiple Bids If You Can: Make more than one bid on your desired item; this may certainly increase the probability of your winning that item.
4. Bid Just Above the Standard Bidding Limit: Some auctions impose a maximum limit you can bid, say up to $50. If you place your bid of $50.02, you’re very well likely to win the bid, because all the others might be entering nothing more than a $50. Your bid being the highest may definitely stand the chance to win. This strategy is overlooked by most bidders, but it works extremely well.
5. Do Some More Tweaking In the End: When the end of bidding time is closer, re-bid on an auction in the last few seconds. Due to the short time left in the auction to finish, other bidders may not get a chance to out-bid you and this act may make you the lucky winner.
6. Keep an Open Eye: Monitor your bids and pay close attention to what’s going on. Many online bidding websites keep its bidders updated about the bidding through email, but it’s actually the bidder’s responsibility to keep track of the status of their bids, particularly when the auction is just about to end.
7. Bid up to your limit, then HALT!Don’t exceed your bidding limit and the products worth during bidding. Most bidders get fiery and egoistic during the bidding process and end up paying more than product’s worth. Once you’ve reached your bidding limit, just stop bidding right then and there.
Online bidding is no doubt a strange concept, but it is also exciting for the participants as it allows them to win products at incredibly lower rates. Follow the above given tips, and you’ll sure be winning a lot of items in the next bidding competition you participate in.

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