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What are some effective online auction bidding strategies?

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Quick Answer

Effective strategies for online bidding include proxy bidding, low-ball bidding and bid nibbling. On sites such as eBay, the Buy It Now feature also helps when a person wants to ensure he gets the item that is up for auction.

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Full Answer

Proxy bidding works successfully because a user can set the highest amount he is willing to pay, and then bids are made automatically on his behalf. The final sale price may be lower than the proxy bid in this case, but bidding is done until the proxy bid is met.

Low-ball bidding is also an effective bidding strategy for online auctions and perfect for those looking to pay a low price for an expensive item. Ideally, a person could save hundreds of dollars on an item by using a low-ball bidding strategy. The one issue with low-ball bidding is winning the item at an extremely low price is a long shot, depending on the popularity of the item.

Bid nibbling is also very effective in online auctions. This means that the person gradually increases the bid over time. The goal is to always be the top bidder of the item, but to start low and work up from there. By slowly increasing the bid from the start and always being the high bidder, the odds of winning the auction are greater than when using other strategies.

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