For people who have never been to an online auction, or those who are fairly new to the game, learning how to bid effectively can be very challenging.
Bidding in increments, using a proxy, setting a maximum bid are all strategies you can use, but it’s hard to know which works best until you get some experience. Luckily, this article explains what types of auctions are available to you and how to choose the right one for you!
Before you bid
To increase your chances of winning , you can follow a few bidding strategies. First, start by doing your research. Find out what the item is worth and what other people are likely to bid on it. By doing so, you will determine your maximum bid.
Set your budget. It’s important to know how much you’re willing to spend before you bid. You won’t end up spending more than you intended in the heat of the moment.
Also, set up alerts for the items you’re interested in so you’ll be notified when they’re listed for auction. As a result, you will be one of the first bidders and will have a higher chance of obtaining the item.
Bid early and be prepared to let go
You should also place your bid early. First bidders have a better chance at winning. Know your limits, and be prepared to walk away if necessary. Cut your losses if the auction becomes too heated.
Start low.
It’s often an excellent strategy to start your bidding at a lower amount than what you’re actually willing to pay. This allows you to gauge other bidders’ interest in the item and also gives you some wiggle room in case your budget needs to be adjusted.
Be Patient
Watch the competition. Monitor the other bidders and see how high they’re willing to go. If you’re patient and wait for the right opportunity, you will make informed bids and ultimately win the auction.
Don’t be emotional
Last but not least, don’t get too emotionally attached to the item. Remember, it’s just an auction and there are other things out there that you can bid on.
Also, set up alerts for the items you’re interested in so you’ll be notified when they’re listed for auction. As a result, you will be one of the first bidders and will have a higher chance of obtaining the item.
Have secure payment methods
Paypal is one of the safest and most secure way to pay for items won online, so make sure you have an account set up before you bid.
With all the tools at your disposal, what are you waiting for? Visit to www.motusaa.co.za. Select “Register” from the menu bar. And create your account so you can start bidding today.
