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The Savvy Bidders Guide to eBay – Plus some tips for sellers
who want me to bid higher
By Cybele Elaine Werts
CybeleW@aol.com
www.supertechnogirl.com
*First published in Toyzine,
May 2004
In the history of collecting, never has there been a tool such
as eBay. Just a decade ago I was collecting toy cash registers
by visiting antique shops and toy stores, and paying rather
exorbitant prices I may add. With the advent of eBay, I have
access to a global market and have been able to purchase many
one-of-a-kind items dirt cheap.
The process of learning to be a smart bidder is not without it's
pitfalls however. It's easy to get caught up in bidders fever
and overspend. This article is a series of tips and strategies
designed to help you become a truly savvy eBay bidder.
What kind of people can best take advantage of eBay?
People who
1. don't like to shop
2. live in rural areas where shopping is limited
3. have a specific need, such as size
4. collect something extremely rare or unique
Betty Bruin & Wells Heart registers - Click Thumbnails for
larger pictures
Where are the best buys on eBay?
Just because something is on eBay doesn't make it a great
deal. These are the situations you'll want to look for:
A "Buy it Now" on an item you know is worth far more,
but the seller does not. For example, I purchased this Betty
Braun bear cashier toy for $35 from a seller who had no idea
that working versions of this item are worth upwards of $400.
The one I got is not working, but could be fixed for far less
than $400. See photo of this item below.
An item that the Seller doesn't know, or hasn't included
information on the Brand name. For example, I first saw this
Wells moveable silver charm four years ago and it sold for over
$100. When another one came on eBay recently, the seller failed
to put the Well's name in the listing, and so all the Well's
collectors did not find this item in their search. I won the bid
for under $35. In a similar situation, some sellers don't
include the brand name in the "Title" field of the
listing but rather in the body of the description, so that they
lose bidders who are searching only in the Title fields.
An item that has a very low starting bid combined with the
vagarities of luck where for unknown reasons there are few
bidders.
Some Smart Bidding Techniques
The Prime Directive:
Beware of "Collector's Fever." Don't buy something
because it exists or because it's cool. If you are a collector,
write a mission statement for your collection and stick to it.
My mission statement includes only toy cash registers which are
character oriented (such as Disney or Sesame Street) miniatures,
and one of a kinds.
The Very Best Tip
Use an auction sniping service like Auction
Insights. I recently started using this service because I
missed bidding on an auction because my internet connection went
down. Auction sniping software bids for you about ten seconds
before the end of the auction, effectively preventing auction
bidding wars which drive up prices. It also protects you from
bidders' fever which can cause a normally rational person to
thing some object is worth far more than it is. Auction Insights
is FREE and I have found it to be totally dependable.
If you don't want to use a service, place your bid in the last
ten minutes before the auction ends, a technique that is called
"sniping." I highly recommend this tactic, but it only
works if you have 24-hour access to a computer, and are
organized enough so that you won't forget. I myself am highly
organized, but I've missed the bid a few times and could have
slapped myself!
Finding what you really want
Create searches that are very specific, and save them. This
will save you time in reviewing all kinds of junk that you don't
want. If there's something you really want, check the listings
every day. Use your Internet Explorer "Favorites" to
bookmark the search, or save the search into the Favorites
section of "My Ebay." If you search on a regular
basis, you will be ready for when the fabulous buys come up.
Don't settle for good or poor quality on an item unless it truly
is a one-of-a-kind. You'll regret it when a better version comes
along and you already spent your money. For example, I purchased
the xylophone toy cash register which is missing a key. In the
meantime I found another which not only was in mint condition,
but which included the songs. What a regret!
Avoid items that vary from person to person such as clothing.
Clothes can look great in a photo, but crappy on you. If they're
not returnable it's not worth the hassle.
Most items on eBay come up periodically so don't fret if you
lose the bidding on an item. On the other hand, be smart and bid
high if you know that it's truly one of a kind.
Toppie Register - Click Thumbnail
How much is it worth?
Official appraisals of items can be dead wrong due to the
fact that the estimates were based on the market before eBay
("BE" in auctioneer's parlance) when the market was a
local one, not a global one. Patience and smart bidding can
easily outrank estimates of value. I have never paid the
estimated value of these items on eBay, and neither should you.
For example, I purchased my "Toppie" toy cash register
for $15 on eBay a few years back. It is appraised at over $100
which many sellers try to get for it, and sometimes they even
find stupid buyers who are willing to pay that much. If you are
patient you will get a sense of what things are worth on eBay.
Always check the postage costs so you can factor that into the
final cost. There was one really cool item I wanted, but the
postage was $22!
Spend wisely. Keep a little savings aside for the day when you
find that piece de resistance. You don't want to be caught
without funds when that unexpected find comes along.
Bidding Tips
If you can't wait until the last minute to bid, then bid at
a time when your competition is less likely to be online or have
access to their computer. People are less likely to receive and
respond to that "outbid" notice if they are at work or
asleep (adjusting for time zones of course).
Expect more last minute counter bids during primetime 5 PM –
Midnight.
If there is one bidder who is actively bidding, check out their
buying history. If they are a serious collector in the same area
you are, you may have to consider bidding much higher. If they
are just a casual player, they probably won't bid too high. Know
your competition!
Most people bid in round numbers like $15, $30 and so on. You
will want to place your maximum bid at odd numbers like $37.51
which trumps both $37.00 and $37.50.
Optimizing the Buy it Now
If the Buy It Now price is significantly higher than the
opening bid, then bid once at the opening bid only to prevent
anyone from "buying it now" right out from under you.
In other words if the Buy It Now price is $25 and the opening
bid is $5, then bid $5 exactly. You may get lucky and no one
else will bid and so you'll win the item for $5. You may also
get semi-lucky and you'll get the item for somewhere under $25.
If you absolutely MUST HAVE the item, then pony up the $25 in
the first place and buy the item.
Never Bid Early Because Sellers can Lower Their Opening Bid
A seller recently listed a toy cash register for $350. I
inquired to the seller as to why he put such a high opening bid
on a toy that I knew quite well to be worth about $10. Still, I
thought maybe there was something I didn't know about the item.
Turned out he was clueless and after he researched comparative
prices he lowered it to $50. Sellers can lower the opening bid
anytime until closing as long as there are no other bids, so
there is an advantage to buyers to wait being as an antsy seller
might lower it to entice more buyers.
Paying for it
If you haven't signed up for Paypal, then get to it! It will
save you time and hassle and most sellers prefer it. They also
offer insurance on eBay items which can come in handy.
Always check your seller's feedback. I have not had any bad
experiences with eBay sellers, but then I'm purchasing mostly
items under $20 which are not worth any seller going to jail
for. If you're buying expensive items, use eBay's escrow service
or Paypal's insurance option.
My Tips to Sellers
Photos: Take photos that are close up, clear (not out of
focus), well lit, and include a ruler on the side so we know the
measurements. Please take photos of all sides so we don't have
to ask for it. Make your photos no larger than about 6"
square and set at 72 dots per inch (dpi) so that they download
quickly.
Titles: PLEASE DON'T TYPE IN CAPS. It's hard to read and
annoying. Include the brand name and critical information.
Titles like "cash register" could be anything from a
store cash register to a toy to a bracelet charm to a glass
candy dish. Not worth my time to check out.
Descriptions: Include the brand name, measurements, postage,
age, color and anything you can think of that I might want to
know. You'd think this is obvious but I have to write about half
the sellers on items I'm bidding on because they didn't include
obvious things like size.
Responsiveness: If you ignore my e-mails I won't bid on your
item.
Read my article on my toy cash register
collection How
I Caught "Collector’s Fever" for Toy Cash Registers
See my toy cash register Collection
Do you have ideas or suggestions? Please send
them to me at:
CybeleW@aol.com
Please visit my toy cash register collection,
and my Reeboks collection at:
www.supertechnogirl.com
Copyright 2004
Reprinting
Information
Would you like to reprint this column? If so, do ask! I
usually allow distribution because spiritually speaking, sharing
ideas is an important way of expressing my faith. Please e-mail
me at CybeleW@aol.com
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