Originally Posted by
TejanoTrackie
Frankly, I don't understand all this bruhaha about online auction tactics, methods and psychology. I have a simple rule that I apply to determine how much I am willing to bid and never stray from it. Namely, I never pay more than it would cost me to find it elsewhere, be it some other online store or Buy it Now (BIN) or Craigslist or whatever. And if it is some rare item that is only to be found infrequently on eBay, then I simply establish in advance an absolute maximum amount that it is worth to ME and let the chips fall where they may. No complicated bidding tactics, sniping software or voodoo. Just like most things in life, sometimes you win and sometimes you lose, and I don't lose any sleep over it.
The reason is you'll often end up paying more by bidding early. Early bidding encourages counterbidding, which means that if you win the item, you'll pay more for it than you would have if you had waited until the closing seconds to bid. Your competitors, who only learn of your interest in the item when it's too late to counterbid, have no time left to drive up the final price.