How to stay calm and avoid getting into a bidding war

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There are several principles to avoid getting into a bidding war.

First, why bidding war is bad:

  • You end up paying much more than the real value of the product.
  • Your blood pressure is going up and you risk getting a heart attack
  • By paying more for a particular product and spending your budget, you deprive yourself of future value-for-money purchases that eBay is renowned for providing
  • You get bad experience using eBay but eBay should be all about good experience

Well, to avoid getting into this, you need to remember a few key principles and strategies:

  • The product that attracts high number of bidders may not be the only product in the world that is sold. Give it a pass, wait for a day/week/month or so and all the chances are you are going to get equal or even better similar product at a price much lower than the current swarm of bidders is prepared to fight for.
  • Pretend that you're not interested in a produc, giving a high bidder(s) a false sense that their bid is secure.
  • Take the average of the highest price that you think the product is worth in your opinion (a), and what you thnik you can afford to pay - your upper budget limit (b) and make it your highest possible bid (c) = (a+b)/2. If (a) is significantly higher than (b) you may reconsider participating in this auction at all.
    Say, if it's more than 25%, back off !  You are not gonna get champaign on a beer budget on eBay - forget it!  On eBay the good hope is to get premium beer at a budget beer budget.
  • Then wait until the end of the auction and bid in a last seconds with the bid value (c) you calculated at a previous step
  • If you win - well, this is it!  If you lose by a dollar or two, don't despair. Go back to the "next time" strategy as mentioned above. Don't think it means that if your bid would be just 2 dollars more you'd win the auction - most likely you wouldn't.

And now - good luck with your bidding!

 

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