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Thrifty Commandments
#12: Don't profit at the expense of your friends or family
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Guide to eBay Buying
Search on eBay several ways
Read the Entire eBay Description
Ask the eBay Seller Questions
Learn About the eBay
Seller
Do Not Buy Outside of eBay
Use eBay Auction Sniping
Software
Wait for the eBay Seller to
Contact You
Use a Credit Card

Mr. Thrifty Principle #6: Use eBay auction “sniping” software

Congratulations. You have found the GI Joe that you wanted and the seller looks to be legitimate. All you have to do is just bid and wait, right? WRONG! If you plan on buying more than 2-3 items per year on eBay, Mr. Thrifty strongly recommends subscribing to an auction sniping service.

Auction sniping software waits until there are 5 seconds (or less) in an eBay auction and places your bid at the last moment. This is cool for two reasons: 1) Bidding at the last minute prevents someone else from out bidding you by $.50 at the last second. You can bid and forget it. 2) Sniping software prevents “bid laddering”. This occurs when you bid $5.00 for an item and someone else bids $5.25. You see their higher bid and raise yours to $5.50. Before you know it, the item is selling for $10. Using sniping software is like winning an argument- you get in the last word! Some PhD type of person calculated that by using sniping software you cut your final costs by 10-20% or more.

There are a lot of good software programs out there, but Mr. Thrifty uses PowerSnipe for his auctions (www.PowerSnipe.com).



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