How to bid smartly on eBay

You find something on eBay that is a must have. Your first impulse is to bid right then and there and set your maximum bid as high as you'll think it'll take to secure that must have item. But there is a bit of a strategy to bidding online and if you rush into a bid you may be left empty-handed, end up overpaying, or miss out on a better product. The few tips below will help you get the best eBay experience and help you make smart bidding decisions.

Bookmark it - This might seem obvious, but people often find a great thing on eBay only to come back later unable to find the exact auction they had originally come across. You don't have to place a bid, but it is a good idea to place the item on your eBay watch list. You'll get updates on the item and be reminded when the auction is ending or the price is going up.

Price check - Is that the only one of the item you'll ever find? Chances are it isn't and chances are you may be able to find a better price. Search eBay for auctions for the same or similar item, Google the product to see what the average sale price of it is, and see if the asking or current bid is worth it. Not only will you save time and money by checking out the prices of other sites and other auctions; but you'll get a good idea of what your maximum bid should be. Setting your maximum bid too high might ensure a winning bid and that item in your hands; but could very well end up costing more then a brand new store bought version of the product. In the cases of auctions that allow a Buy Now option, check the price of the product elsewhere to make sure the Buy Now price is even a good deal.

Read the small print - You'd think this would be obvious, but with known auctions that have ended with a buyer spending a lot of money only to receive a photo of the item or an empty box; reading every part of the auction information is critical. A seller is required to list clearly what the winning bidder will receive; the types of payments accepted; where the seller ships to, and a good description of the actual item up for auction. Good sellers will spell it all out in the description. Sometimes you'll be surprised to see that the seller is selling a 'non-working' product, a part of the product, or even a picture of the product. Usually a low starting bid is an indicator that the product is not brand new, fully functional, or the whole package. This isn't always the case, but be safe on Ebay and read everything before committing to any bid.

Shipping - Besides making sure that your shipping information is 100% accurate and up to date, you need to make sure the shipping price is right. Often times to make an auction seem more appealing; sellers will set the starting bid very low and eliminate the reserve price requirement. It may seem like a great deal for that new t-shirt until you see that the shipping charge is included and is 29.99. It isn't illegal to set shipping rates this high and for some buyers it works out if they win an auction with a low bid and ensures the seller still makes a profit. But many times the excess shipping fee set by the seller may combine with the winning bid to end up costing more then a brand new version of whatever is for sale. Look out for auctions starting at 1 cent; the bids will almost always shoot up towards the end of the auction and often come with high shipping fees.

Timing - Really timing is everything on Ebay. Auctions can sit relatively quiet until the last minutes and seconds of the auction where you could see the bid jump to a few times the initial asking price. It isn't uncommon to see winning bids being much higher then the last bid or to see a bidding war break out in the final moments. Watch the items and be mindful of the starting bid, if there is a reserve, and how much time is remaining in the auction. If you decide to bid and set a maximum bid that you are willing to pay if you win; you just have to hope your maximum bid outbids another person's maximum bid. Even if it seems like you are set to win the item, the last second can bring a higher max bid knocking you out of the auction. In other words; the current bids mean little until the auction is down to the last few minutes and even the final seconds.

These tips will hopefully help you become a pro at shopping and bidding on Ebay. Always check a seller's reputation and rating on the site, and always shop around before committing to a bid on Ebay. If you don't win your bid; don't worry as there will be many more auctions available for items you want and like.