How to Win an Online Auction

by Contributor

You found this great item on an online auction that you just have to have. You've placed your bid, but when you check on the status a few days later, someone else is in the running. So you bid again. But you still don't get it. You just can't seem to win your auctions. If you follow these strategies, you can win your online auctions more often.

Check your auction daily. The people who win online actions come back several times a day during the entire bidding period for the item. This allows you to make adjustments to your bid before the competition.

Keep track of the items you're bidding on. Make lists of each item you bid on, their lot numbers, their exact web address, closing date and any notes you have relating to the auction.

Set a top dollar value you're willing to pay for the item you've found. Don't bid more than this amount, no matter what. If you can spend only $100 on a specific doll, don't break the bank trying to win it with a $1200 bid.

Bid late. Your best chance to win the auction is to get the last word in. Refer to your notes to see when the auction closes, and bid during the last few minutes. Most winning bids for high demand items are placed within the last few seconds of bidding.

Warning

  • close Many people fear identity theft and robbery. If something does go awry during your online bidding experience, report it immediately to the police and auction site.