Sunday, February 08, 2009

Winning Over Dummy Bidders And Snipers

Dummy bidders are individuals who sit among the auction crowd and pose as buyers. They are often employees of the auction house or agents that sponsor the sale of the item. They are used to create competition with real bidders or to infuse interest in items with little or none. Dummy bidders are instructed to bid for auction goods at a pre-determined amount.

Auction snipers on the other hand are real bidders that watch for a particular item and bid at the very last possible moment to emerge as the highest bidder. In online auctions, online sniping is usually done using a software. This software allows someone to win an item by setting it up to bid for the very last moment before the auction closes.

It is frustrating to encounter dummy bidders and auction snipers at auction houses especially if you really want to win an item or if you want to buy something at the very lowest price. How to win over them, you ask? Consider the following suggestions

Choose a reputable auction company. While dummy bidders can be at every auction, not all auction houses have them. Read feedbacks and testimonials of previous bidders. They are the most reliable source of information.

Identify the dummy bidder. This is quite a task since you need to focus on watching for your item as well. But, if you happen to identify some of them among the crowd, then you have a good chance of winning over them. Since their main role is to drive the price of an auction lot up, they will stop at a certain price limit. You can either hold your bid until the last possible second or engage them by bidding on the amount you can afford. You can jump bid but this is like saying that you allow dummy bidders to beat you in their game. Well, if the item is more important to you than its final price, then you can always bid higher than them. They will eventually stop bidding anyway.

Bidding snipers can only be beaten by becoming a sniper yourself. To become one, remain watchful and hold back your bid. At the very last moment or when the auctioneer is about to rap the hammer down, place your bid.

Also try throw bidding. This is done by bidding outside the increments. This will confuse bidders and will put the auctioneer off-guard.

Ignoring that they exist is not the best way to win them over. You must engage and fight to win your item without breaking your budget.

personal finance to financial freedom


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