There are a number of steps you can take to ensure that you buy goods at an optimal price on ebay. The purchasing process can be divided into four (4) phases:
1. Research stage
2. Preparatory bidding stage
3. Bidding stage
4. Purchasing stage
- Research the product you are interested in.
- Use different websites and compare the features and price of various similar models.
- In particular note the typical retail price of the good.
2. PREPARATORY BIDDING STAGE
- Search for the item on ebay.
- 'Watch' approximately 10 items that are virtually the same.
- When all of these items have ended you will have a very good idea of what these items generally sell for or you will obtain a good range.
3. BIDDING STAGE
- Depending on how immediately you want the goods you can adopt a number of different strategies
- If you are patient you can bid on several items at the lowest end of the prices that this type of item has sold for. You can even try just below this. Always be sure to factor in the postage costs. Naturally, the lower your maximum bid the more likely you are to be outbid. So it all depends on the trade off between price and time.
- Keep a very close eye on the item, particularly in the minutes prior to ending. The price will typically rise dramatically in the later stages as buyers seeking a low price clammer to get in just before they can be outbid. So don't be deceived by the fact that the price may seem ridiculously low 5 minutes from closing. If you have thoroughly undertaken stages 1-3 you will be well versed on the approximate range of sale prices.
- If you are the winning bidder, always be prompt to communicate and pay the seller. This will ensure a smooth transaction and mutually positive feedback.