• Before you place a bid, you have to be a registered eBay userand you should check out the feedback rating and comments of the item’s seller.

• You place your bid in the Ready to Bid? section of the item listing page; then you enter your user ID, password, and the maximum bid you’re willing to make.

• eBay’s proxy bidding software manages your bidding, raising your bid as necessary up to but not exceeding your specified maximum bid amount.

• If, at any point during the auction, you get outbid, you have two options: Place another (higher) bid, or walk away free and clear.

• When you win an auction, you’ll be notified by eBay; you should then contact the seller to arrange payment and shipping terms.

The post About eBay Bidding first appeared on Tips For eBay Sellers & Buyers.

When you’re interested in a particular item, it’s tempting to place your bid as soon as you read the item description. The problem with this is that as soon as that bid is entered, you’ve announced your intentions to other bidderswho might then react by placing even higher bids. So, right away, you’ve started a bidding warwhich you could lose.

There’s really no benefit to bidding early in a long auction. So what if you place your bid on day one of a seven-day auction? The only bid that really counts is the one that’s in as the auction closes. Besides, when you bid early, the bidding price goes up faster. It’s better to hold off and place a later bid, one that other bidders won’t have as much time to respond to. Bid early, and you’re likely to either lose to a higher bidder or unnecessarily drive the price higher; bid later, and you’re more likely to winwith a lower bid.

Mistake #2: Bidding Too Low

If you really, really, really want to win a particular auction, there’s no point in being cheap. You think you can get by with a low-ball bid, so that’s what you offer. The problem is, if the item is really worth a higher price, someone else will bid that amountand you’ll lose the auction.

It’s especially tempting to bid low when the seller sets an unrealistically low starting price. Don’t get suckered in by a low price early in the auction. If you think an item is really worth a particular price, bid that full amount. Remember, eBay’s bidding software automatically sets the current bid level for you, so you’ll never pay more than you have toand if there’s not much bidding, you might actually end up paying a lower amount. But if you want to win, you have to bid high enough to beat all other bidders. Don’t be cheap!

Mistake #3: Bidding Too High

On the other hand, don’t be a dummy and bid an unrealistically high amount for something that isn’t worth that much. You’d be shocked at how many items sell for more than their fair value on eBay; a lot of buyers just don’t know what things are worth when they place their bids, and end up overpaying. Do your homework ahead of time, and find out what that item is really worth. Then place an appropriate bidand don’t bid more than that. If you get outbid, tough; the item wasn’t worth that much, anyway!

Mistake #4: Getting Caught Up in a Bidding Frenzy

One reason that many items sell for too high a price is that it’s easy to get caught up in a bidding frenzy. If an item is popular and several bidders are interested, you’ll see the current bid price keep going up and up and up as each bidder tries to stay in the game. I know the feeling; when bidding starts to heat up, you don’t want to lose. So you keep placing higher bids, trying to stay a few dollars ahead of the other biddersand end up bidding up the price way too high.

The solution to this problem is simpledon’t lose your head in the heat of the moment! Set a maximum amount you’ll pay for the item, and do notrepeat, do notbid any higher than that amount, no matter how hot and heavy the bidding. It’s okay to lose one every now and then!

Mistake #5: Not Reading the Fine Print

You’ve found an item you want. The bid price is reasonable. You think you can win the auction, and get a pretty good deal, besides.

But when the auction ends, you get an email from the seller telling you that the final price is several dollars higher than what you expected. That’s because the seller added a shipping and handling fee to the selling price. Now, you should expect to pay shipping/handling; that’s your responsibility as the buyer, and you should factor that into your total cost of the auction. But many inexperienced bidders get surprised by this charge and end up with an unsatisfactory auction experience.

So make sure you know what the shipping and handling fee is before you place your bid. If the seller doesn’t include this fee in the item listing, email him with your ZIP code and ask him to estimate the fees to your location. And always be on the lookout for higher-than-normal shipping/handling fees, or other unexpected charges. You probably don’t want to pay $10 to ship a $2 itemespecially if the actual shipping might be only half that. Although it’s common for sellers to include a “handling charge” on top of actual shipping charges (to pay for boxes, packing material, and so on), you don’t want to pay too much over the actual costs. Jacking up the handling charges is one way unscrupulous sellers make a little extra money on each transaction, and you don’t want to play along. Bottom line? Be sure to read the fine print before you bidespecially where it concerns shipping and handling charges.

The post 5 Common Bidding Mistakes first appeared on Tips For eBay Sellers & Buyers.

• Is the item you’re bidding on new or used? If it’s new, what kind of warranty does it come with? If it’s used, what’s your recourse if you’re dissatisfied with the item?
• What condition is the item in? Is it an original, or a reproduction? Is there any way to verify that conditionthrough photos of the item, perhaps?
• Check out the seller’s feedback rating is it positive? (Never deal with a user with a negative total feedback number.) You might even want to click the Read Feedback Comments link in the Seller Information section to view his or her feedback profile; this is where you can read the individual comments about this person left by other users.
• What methods of payment will the seller accept? Are you comfortable using one of these payment options?
• How much shipping and handling is the seller charging? Are these fees in line with what you think actual shipping will cost? If you or the seller lives outside the U.S., will the seller ship internationally?

In other words, take your time and become knowledgeable about and comfortable with both the item and the seller before you place your bid. If you find anything at all that makes you uncomfortable, don’t bid.

The post Before You Bid Checklist first appeared on Tips For eBay Sellers & Buyers.

It’s important to remember that it doesn’t cost you anything to bid. You only have to pay if you winand even then, you don’t have to pay any fees to eBay. (All eBay fees are charged to the seller.) You’ll have to pay the seller the amount of your winning bid, plus any necessary shipping and handling costs to get the item to you.

It’s important that you know all about the item you want to buy before you place your bid.

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