Users new to online auction websites often require some time and help before they completely understand the auction platform and start winning auctions. It's not any fun for a new user to struggle on indefinitely. You should enjoy yourself while taking part in online auctions. It's natural to feel daunted going into your first couple of auctions, so here are some common misconceptions of auction websites, as well as some tactical advice for you beginners that you should consider when devising your plan of attack.
1. Setting unrealistic expectations
This can't be stressed enough, but users need to set realistic goals when participating in online entertainment auctions. If someone is new to an online auction, he or she shouldn't expect to win a laptop on the first try with only the cheapest bid pack available. Not saying it couldn't happen... it definitely could and it has happened. BUT, it is highly improbable. Know and expect that you'll be bidding against users with far more experience.
While everybody loves an underdog, we encourage new users to start using auction sites by participating in smaller auctions first. After all, you've gotta crawl before you can walk, right?
2. Going for the big catch
It's not wise to immediately go after the most popular item on an auction site. There are a lot more competitors vying for the popular products, and many of them are our highly skilled veterans. Once acquainted with the site, you'll then understand that going after popular products warrants certain measures to protect your bid investment. It is recommend that you commit to only one such auction at a time and that you don't get too involved without considering using the "Buy Now" feature (if you don't win, that is).
Don't spread yourself too thin when bidding on the big-ticket items. Be willing to devote more time and money to increase your winning. It's been found that any participant willing to spend about 1/3 of the value of the item in bids greatly increases his or her odds of winning the item.
3. Jumping right in
By limiting your understanding of the system, you are setting yourself up at a severe functional disadvantage. As with anything you invest your money in, do research before jumping into entertainment retail auctions. Each auction is going to be different from the others, so read and understand the Terms & Conditions on the site, familiarize yourself with the "Buy Now" option, the automatic bidding tool, and pricing structures. We also recommend carefully watching other auctions to see how they unfold. All this will help you to understand "the nature of the business" and to help build your overall bidding strategy.
Online auctions should be a fun and exciting experience for customers. A stronger grasp on the online auctioning system will help enrich your experience and facilitate a better, more fun shopping experience.
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