The Secrets of Winning an Auction
I always join online bidding but I never get to win anything at all. So I was wondering maybe there is a technique in doing this. Then I decided to research on how to win an auction. It’s where I learned that there are a lot ways to win one. Let me share the new knowledge I gained so far. So here it goes. • First you’ve got to know the auctions Before you even start bidding, the first thing to do is to attend as many auctions as you can and observe how things go. Check and compare the quoted price to the actual price of the item. And always add at least 10 percent to the quoted price. Most especially if the item is rare and not sold in other markets. • Then, get set to buy Before the bidding or the auctions starts, make sure you organize your finance first. Make sure that your solicitor checks the sale contract. Check the condition of the item you are about to buy. Make a research on the place or the item that you are willing to spend money on, check if it’s all worth buying. • Beware of the dummy bidders Most of the bidders are dummy bidders; they are used to push the auction prices up. Try to identify who the true bidders are. This is the best tool that auctioneers sometimes use to get more money out of you. The dummy bidders will start bidding and even bid against you so that you will try to bid higher. If they have reached the satisfied amount they will stop bidding, so that you will win the auction, without you knowing that you have been played. • Bid only up to your Limit, do not over bid Right even before the auction starts, you must decide on your maximum bid. Meaning set a maximum amount you are willing to spend. Having a bidding limit is the most powerful and strongest tool in auction success. Do not over bid; this is where your knowledge about the item being sold comes in. If you think that it is over the limit of the actual price, then stop bidding. It’s not at all worth winning an over-priced item. Make sure that you bid firmly and confidently so your opponent gets an impression that they will never win the auction. Try to slow down the bidding by bidding in smaller amounts, then later on bid higher. But once you hit your limit, better stop bidding. • Lastly, do not forget the 4th rule Never ever break the 4th rule of bidding. For some buyers, a chance of getting a good item is bidding in a good price. But whatever happens, stick to your bidding limit! That’s the basic knowledge we know about bidding. Now, here are the secrets you’ve all been waiting for. • Jump Bidding In jump bidding, the bidder tries to frighten the opposing bidder. How does this work? It’s done by offering a much higher bid. For example, the original price is at $30, and then the bidding goes up only about $5 each bid. What you can do is to jump from a $5 bid to a much, much higher bid like 40 dollars higher. This can scare off your opponent but it can also backfire at you. It’s either the opponent makes his own jump bid or it may cause a panic to the opponent assuming the item must be worth spending more money on. by Patricia Holden
New and high-quality products are listed continuously on SmartWin. You can bid for them at any time within the auction period. You must register as a member in order to bid. You can do this easily by clicking the "Register now" button and by following the subsequent instructions. In order to buy bids, your account must contain credit. Your account can be recharged using a credit card or pre-payment transfer. Each bid costs 0.50 euro. We can offer you the following bid packages: 0.50 euro = 1 bid 5 euro = 10 bids 10 euro = 20 bids 20 euro = 40 bids + 2 free bids 50 euro = 100 bids + 10 free bids 100 euro = 200 bids + 30 free bids 250 euro = 500 bids + 100 free bids 500 euro = 1000 bids + 250 free bids You can bid using any number of 10 cent units (e.g. 1 euro, 2.10 euro, 3.90 euro…). The user placing the lowest exclusive bid has won. An example based on the diagram: In this case, several persons have bid the sums of 1, 2, 3.30, 4.40 and 5 euro. The sums of 3.30 and 4.40 euro were each only bid once, whereby 3.30 is the lowest and exclusive bid and would therefore have won the auction. This is no longer an exclusive bid if a further user bids 3.30 euro during the auction period. In our example, the bidder offering 4.40 euro would be the winner, because his bid is now the lowest, exclusive bid. Please note: some products, such as cars and property, may only be bid for in 1.00 euro units. In such cases, this will be indicated separately within the product description. It is possible to place single bids, or to cover an entire span of bids. However, in order to guarantee equality of opportunity, only single bids will be accepted in the last five minutes of an active auction. After each successful bid you are informed if you have submitted an exclusive and/or lowest bid or not. You can also check your bidding status by looking in your member area. If you are underbid at a later point in time, you will, of course, be notified by e-mail and can place another bid, in order to improve your chances. If an auction does not result in a unique bid at its conclusion/at expiration date, then nobody has won and the auction starts again. If there is a unique bid at the end, the winner with the lowest exclusive bid is determined and then informed by e-mail. The winner can then order and pay the auctioned item in his member area (the prices incl. VAT/Sales Tax, plus forwarding expenses). The goods are shipped as soon as payment has been received.
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