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1. Know the value of the product before you bid. If the product is brandnew, check to see what price retailers are charging for it. If theproduct is used or reconditioned, you will want to pay way less than theretail value.

2. If the product's description or picture isn't detailed enough foryou, contact the merchant to get more information before you bid. Youdon't want to take a chance to waste your hard earned money.

3. Know the highest price you will bid for the product and stick withit. Don't get caught up in a bidding war; you may end up paying morethan the product's worth. Don't forget to add in the shipping price withyour bid.

4. Visit a few online auctions before bidding because some merchantsauction the same product in many auctions. You usually can purchase theproduct for a lower price in a unpopular auction because thereare less bidders.

5. Know the time the auction begins and ends. You also want to know howlong it will take to ship. If you need the product by a certain date,you'll want to estimate the time it will take to receive it.

6. Know the payment options the merchant accepts before you bid on theirproduct. If they only accept checks or money orders, it may take evenlonger to get the product because the payment has to clear. Ifthey accept credit cards make sure they have a secure server.

7. Know if the merchant offers a warranty or money back guarantee orbefore bidding on a product. You don't want to get stuck with a productthat does not work or you're not satisfied with.

8. Online auctions will, sometimes, allow you to check the merchantshistory with their auction. Check to see if people have complained aboutthe their products or business practices before you decide to bid.

9. It's important to place a bid early in the auction to show otherbidders you are interested in the product. If someone does out bid you,don't be afraid to out bid them. Remember not to go over your maximumbid price.

10. Another reason to know when the auction ends; you can place a lastminute bid. The other bidders may not be keeping track of when theauction ends or may not have the time to bid again.