Best way to bid on auctions

I'm new on auctions and trying to figure out the best strategy for bidding. I've come across this article. Want some feedback from experienced auction users - does it really help?

Comments

  • sellitstoresellitstore Posts: 1,171 ✭✭✭✭

    In a word, yes. Sniping is particularly effective on Ebay but can offer an advantage in most auctions. Placing a bid early will allow more chance to be outbid.

    Collector and dealer in obsolete currency. Always buying all obsolete bank notes and scrip. Ebay listings
  • 291fifth291fifth Posts: 17,541 ✭✭✭✭✭

    When bidding on stamps don't allow yourself to get caught up in a bidding frenzy. Set a limit and stick to it no matter what type of auction it is. Don't be fooled by catalog values or large lots that contain nothing more than "service charge" value stamps.

    All glory is fleeting.
  • I have started small and got a few good stamps cheap at auction. I bid on 3-4 nice airmails that I previously had neglected to get for my US collection several years back and , suprise, I won them. I never bid more than I am willing to spend, as if I win them I have to pay the bill. The fourth auction is still pending but still a nice bargain. I refuse to get caught up in a bidding frenzy with someone as I usually end up paying too much. There were a couple of auctions I bid on for some supplies that I was outbid on and so I just let them have it, not worth the fight. I figure if someone wants it that much, then let have it. There will be other chances and other auctions.

  • 291fifth291fifth Posts: 17,541 ✭✭✭✭✭

    @quarterlvr said:
    I have started small and got a few good stamps cheap at auction. I bid on 3-4 nice airmails that I previously had neglected to get for my US collection several years back and , suprise, I won them. I never bid more than I am willing to spend, as if I win them I have to pay the bill. The fourth auction is still pending but still a nice bargain. I refuse to get caught up in a bidding frenzy with someone as I usually end up paying too much. There were a couple of auctions I bid on for some supplies that I was outbid on and so I just let them have it, not worth the fight. I figure if someone wants it that much, then let have it. There will be other chances and other auctions.

    You will probably find that the "bargains" aren't really bargains at all but merely reflect the actual current stamp market. Stamp collecting is a hobby in decline.

    All glory is fleeting.
  • JBKJBK Posts: 5,396 ✭✭✭✭✭
    edited August 4, 2019 6:02PM

    Because of the peculiarities of ebay (auctions end at a set time rather than when increased bidding ends), sniping can be useful.

    However, lately I just put in my top bid when I see the listing and move on. I either win or I don't.

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