Users new to online auctions and bidding sites often get excited by the prospect of getting a great deal on amazing items, and they jump right in before completely understanding the online auction platform. Unfortunately, this can lead to them not winning anything, and walking away discouraged. In order to have fun with these online entertainment auction sites, it's important to learn what NOT to do before beginning to bid. Here are the top three mistakes beginners make on bidding sites.
1. 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.
2. 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."
3. Beginning Without Doing Your Research
Another bidder explained that when she first started out, "I spent most of my time "watching" the auctions instead of bidding. I analyzed and analyzed bidding strategies, especially the
optimum times to use the Bid-O-Matic!"
As with anything you invest your money in, do research before jumping into a bidding site. Each online auction is different from another, so familiarize yourself by watching other auctions first. This will help you to understand how things work on the site and ensure you will have a fun and exciting online auction experience.
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