Bidding Techniques at Auctions

If you're going to bid for something at auction, you must know the terms and policies available at online auction you should have an understanding of the basic techniques of bidding. There are a number of strategies used by bidders to maximize their success; here are a few amongst them:

1. Head Shake or Nod

If you are bidding on a lot, and the auctioneer looks to you for the next bid, dozing your head will show him that you are still bidding, even as shake of your head will indicate that you have withdrawn. This technique could not be implemented while bidding on bidding websites.

2. Bid Jumping

This is the practice of putting in a bid well above the next bid increment. However, it may well be that the other bidders would have stopped bidding after a limit anyway, in which case the bid jumper wins the lot, but ends up paying a little amount.

3. Lighthouse Bidding

This is the term used when a bidder holds their paddle up leaves it there. This sends out a message to other bidders that they are serious about winning the lot, and will remain in the bidding for the long haul. This technique is also applied by many of the bidders while doing online bidding.