Saturday, May 25, 2013

Ebay bidding tips

If you are going to be setting up an electronics laboratory on a reasonable budget, you will be looking to ebay a lot to find used test equipment. Some tips are in order. These are not the best, but basic

1. First start looking outside of ebay to see what these items cost outside of ebay, via established businesses. Typically I would be willing to spend 75% that amount on ebay.

2. On ebay itself, Start of with looking at items that have already been sold which are similar to the items you are looking to buy. That will give you a ballpark idea of how much you may need to spend. This amount is usually 65% of what you could expect to buy for from an established businesses

3. Start bidding on items that are going to expire soon, i.e. within 2-3 hours. No point bidding on items that have two or more days to go. The bidding process seems to get very hectic near the very end, within the last few hours. Sniping might even happen at the last minute.

4. Take a look at similar items (to the ones you are bidding on right now), but which will expire a little later (than the item you are currently bidding on). You should be willing to pay about 10% more on the current item. For some specialty items, this may be hard.

5. Just make sure you do not place a maximum bid that is higher than 1. or 2.

Ebay should probably add a new algorithm to prevent sniping. Every time someone makes a new high bid, there should be an automatic time extension of 5-10 minutes to give the other bidders time to respond.  Basically, there must be at least 5-10 minutes for the new guy to respond with  higher price. This is better for everyone except the sniper.

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