Not Setting Realistic Expectations

Because it’s very unlikely to win a high-ticket item your first time bidding, it’s so, so important for users need to set realistic goals when participating in online bidding sites. If you are new to an online bidding site, you shouldn’t expect to win a video camera or iPad on your first try bidding. Understand that you’ll be bidding against users with a lot more experience and therefore, the odds are against you.

Going For High-Ticket Items

Speaking of video cameras and iPads, it’s not a good idea to go after the most popular item on the bidding site on your first try. The most popular items are bound to have the most highly-skilled veterans bidding on them, as well as the most people bidding on them. Once you have gotten used to the bidding platform, you’ll know what measures you need to take in order to protect your bid investment when going after the high-ticket items.

Additionally, we recommend that you commit to only one high-ticket item auction at a time. Be willing to dedicate more time and at least a third of the value of the item in bids in order to increases your odds of winning a high-ticket item.

One bidder said, “When I started out I watched a lot of auctions without bidding just to get a feel for the rhythm of the bidding process, and when I did start bidding I started out small on $10 gift cards and eventually worked my way up to larger prizes.”