How To Get a Good Deal on eBay
The genius of eBay (and what has made it so successful), is the fact that anyone from anywhere can log on and search multiple listings of the same product, all offering different conditions and prices. Local stores cannot compete because they only offer the product in one or two conditions (new or used) for one or two different prices.
eBay allows a friendly open market between sellers. Because the market is open and provides plenty of options, many buyers prefer eBay because they stand a great chance of getting a good deal.
eBay sets up an auction type setting, which allows you to compete against other buyers. The nice feature of eBay is the buyer can set his or her price, and not the price that the retailer wants. If the bidding gets to high, you simply pull out of the auction. Find an item with an auction that has nearly ended and the bidding is still low? Why not jump in on the competition.
eBay recently released a commercial about a group of 40 something adults running a race in their work clothes. The commercial was hysterical and authentic because it really related symbolically to the competition which occurs multiple times everyday on the site.
How can you get a good deal on eBay?
First off, understand the product through research. A lot of people do not do the extra homework, which results in a purchase or a product on eBay that is actually overvalued. Call up a couple of local retailers and ask about the price for the product you are interested in purchasing on eBay. Search the internet and look for the same product sold for full retail value. Circle the lowest price from your research and try to win the auction with a bid around or lower than that price.
Do you want the product new or used? While it’s nice to own something brand new, the harsh reality is it comes at a greater price. If you want to find a good deal, stick with used items because new items will go for about the same amount as they do at local retailers. You can especially find a great deal if you purchase a product used, but with very little use or wear. For example, some sellers will list they bought the item but have barely used it or have owned it for only half-a-year. If that is the case, and they have pictures to back it up, chances are you will find a great deal compared to buying the product new.
Avoid “Buy it now” listings. “Buy it now” is a great feature because it allows buyers to bypass the bidding period and simply purchase the product now for a set price. This is nice if you need the product now and cannot wait five days for an auction to end. Sometimes great deals will spike up as a “Buy it now” but they are few and far between. Besides, unless you check eBay 24/7, the deal is snatched up pretty quickly. Instead, remain patient and stick to auctions where the chances of a better deal are much higher.
Wait to bid on a product until it enters the final day or two. Bidding early only drives the price up, which obviously reduces the chance of you getting a great deal. Also, avoid products that haven’t been bid on yet. There is a reason the product isn’t getting any bids, which can range from appropriate or lack of product description, no photos, or a seller who appears shady or suspicious (by a bad track record with feedback).
Ultimately, the buyer understands his or her needs best. If you think you are getting a great deal, jump on it! Trust your instincts and you should be fine. But patience and experience on eBay are the two biggest keys to landing great deal after great deal.
[photo by notsogoodphotography]