How to stop paying too much for an item by setting a bidding limit.
There is much good advice on avoiding the last minute buying frenzy that can result in you paying too much for an item - and the value of setting a limit on the amount you are prepared to pay and sticking to it. However how do you determine this bidding limit? The answer is research and patience. Yes - it's boring, but it's the only way.
If the item you want is new then use a shopping search engine like shopbot.com.au or dvdplaza.com.au. This will help determine the "retail" price for the item (inclusive of postage). This is your absolute upper limit.
Use the bidding techniques described in the guides and bid your amount. Wait, if you are overbid - let it pass and bid on the next item. Eventually the fair bid price will work.