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!