Gaita's Tips to Winning in Online Auctions

In the days before the pandemic, winning at auctions was a lot simpler than it is today. For the most part, you could see the person bidding against you. You could look at them and judge how much they wanted that specific lot, and if they were willing to jump and shout louder and higher than you or not. Now everything is online, and although you can no longer read the room, there are ways in which you can up your bidding game and increase your chances of winning in online auctions. Here are our top 5 tips to ensuring your get the best items at the best prices!

Step 1: Evaluate the lot you’re interested in.

OK, so you’ve seen an item you like, bidding has just opened at only £1.00, awesome. But you may not be the only person looking and thinking the same thing. First things first, do you research. Open another tab and google the item(s), find out the current value and decide how much you are willing to pay.

Step 2: Set yourself a budget.

It can often help to set yourself a bidding budget when using online auctions, after all, nobody likes a scary bill at the end of a fun night’s bidding. Remember to check the auctions fees and take these into account. For example, are you willing to pay £10 on your chosen lot before or after fees and vat have been added...

Step 3: Placing your bids.

There are 2 ways you can bid in most online auctions. The first is increment bidding, this is where you place a bid to the next amount and hope you don’t get outbid. The next is auto bidding or maximum bidding, many of you will be familiar with this concept already from eBay. Auto bidding is where you submit the highest bid you are willing to pay without going straight to your maximum bid. Other online bidders will have to attempt to outbid you either by increment bidding, or by submitting a higher auto bid.

Step 4: Popcorn bidding features

Many online auctions will have what is often know as ‘Popcorn Bidding’, and this is where it gets exciting. If a bid is placed in the last minute or two of the items ending, time will be added to the auction. This gives you chance to bid again if you have been outbid and can great a fun and exciting bidding experience.

Step 5: Always watch the auction end.

Though it is advised to get your bids in early, it is much more beneficial to watch the auction end. This gives you’re the highest chance of winning at the last possible moment. But remember to log into the online auction a couple of minutes before it is due to end, you wouldn’t want to be outbid whilst your screen refreshed after logging in…

So, there you have it, Gaita Auctions top tips to winning at online auctions. We hope you enjoy the experience and get some great bargains at the same time.