Is there a secret to win eBay auctions and pay less? You bet there is! First, do you even feel that placing bid on the eBay was always a hit or miss experience? Did you often being outbid by others more than you were winning auctions? Try placing a bid on an item and someone would bid severals times in a row until they outbid you. This is called bidding wars which must be avoided! Do you know that if you placed a bid in the final few minutes, your competitors won't have a chance to run up the price? So, you have a better chance of winning the auctions. This secret technique is called Snipe Bidding. Snipe bidding means placing a bid in a final seconds. Placing your serious bid in the final seconds prevents you from entering bidding wars and snatching the auctions away from inexperienced bidders who bid low and early.
A strong bid will attract bidders to bid a few dollars more than the present bid and become the new highest bidder. But when someone outbid them, they will start to bid higher and higher without caring much on the item they are bidding on anymore. This is called ego! When ego comes into play, it will get you nowhere and it may cost you even more on the auctions.
If you understand how it works, you can win over average bidders. Most average bidders bid either the minimum bid or slightly above the minimum because they are afraid of overbidding. This is where snipe bidding comes in. At the last moment when auction is about to end, the sniper bidder will place their maximum or serious snipe bid, without giving the average bidders time to reconsider their bid amount.
Simple Steps in Snipe Bidding
* Do not get trapped in a bidding wars!!
* Plan on the amount you are willing to pay before placing bid.
* Bid on that amount in the last moment.
Does snipe bidding Always Give You A Win? Answer is not always! Snipe bidding may not give you a win for every auctions but it protects you from becoming involved in a bidding war or bidding emotionally instead of rationally. This killer technique has been analyzed by Researchers at Seoul National University over a quarter of a million auctions and confirmed that Snipe Bidding gives the best chance of winning. Bid placed early have less than a 50% chance of winning an auction.
Not convinced? Try searching for closed auctions on eBay and start checking on the winning bidders. Most of them placed their bids in the final seconds and generally the price is less than for similar auctions. Good luck with your bidding!
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