Finding a great deal is one thing. Winning it at a price you feel good about? Even better.
That’s part of the fun of online auctions. You never know what you’ll find, what it’ll sell for, or when the next great deal will pop up.
But a little strategy goes a long way.
Whether you’re placing your first bid or you already know your way around Equip-Bid, these five tips can help you find more of what you want, bid with confidence, and know when it’s time to move on to the next deal.
1. Use filters to get to the good stuff
One of the biggest advantages of online auctions is also one of the biggest challenges: there can be a lot to look through.
Instead of endlessly scrolling through auctions, use filters to narrow down the inventory that actually interests you.
On Equip-Bid, you can narrow your search using things like category, price range, location, condition, closing time, and seller.
Looking for tools within driving distance? Restaurant equipment for your business? Furniture under a certain price? Start narrowing.
The easier it is to find relevant items, the more time you can spend evaluating potential deals instead of searching for them.
2. Know what you’re bidding on
See something you want? Take a closer look before you bid.
Check the photos. Read the full description. Review the condition information and make sure you know exactly what’s included in the lot.
Then check the auction details.
Where is the item located? When is pickup? Are there specific removal instructions? Is there inspection available?
Those details matter.
If an inspection is offered and you’re considering a bigger purchase, take advantage of it. Seeing an item for yourself can help you decide what you’re comfortable bidding.
A good deal starts with knowing what you’re buying.
3. Set your max bid and let the system work for you
This is one of the easiest ways to bid smarter.
Before things get competitive, decide what you’re willing to pay.
With a max bid, you tell the system the highest amount you’re comfortable bidding. From there, Equip-Bid can automatically bid for you as needed, up to that amount.
And here’s the important part: your max bid isn’t necessarily what you’ll pay.
If you can win the item for less, you will.
Setting a max also makes it easier to keep your eye on the deal instead of the competition. If someone is willing to go beyond your number, that’s okay.
Another deal is always ahead.
4. Know your total before you bid
Getting a deal means knowing what you’ll actually spend, not just looking at the current bid.
Before setting your max, remember to account for the buyer’s premium, item fee, applicable sales tax, and any other costs associated with getting your purchase home.
For example, a $250 winning bid won’t result in a $250 final total once the applicable auction fees and taxes are added.
$250 winning bid + $45 buyer's premium + $1.50 item fee + sales tax = about $320.78
Pickup matters, too.
If the item is farther away, factor in your drive. If you’re bidding on something big, think about whether you’ll need a truck, trailer, equipment, or an extra set of hands.
Before you bid, ask yourself one question:
What is this item worth to me, all in?
Once you have that number, you know where your deal ends.
5. Watch the deals you want
Find something interesting but aren’t ready to bid?
Add it to your Watchlist.
Your Watchlist keeps track of the items that caught your eye, so you don't have to find them all over again. We'll also let you know when those items are about to close, so a deal doesn't slip by because you forgot to check back.
Already bidding? If someone outbids you, you'll get a notification right away. That gives you time to decide whether to bid again or let it go.
You can choose how you get alerts, by email, text or both, in your Profile under notification settings.
You can also sort by Closing First to see what’s coming up soon.
See a deal you want? Get ready. Get set. Bid.
And if the price moves past what you’re comfortable spending, don’t sweat it. New inventory and new auctions mean there’s always something else to discover.
Sometimes bidding like a pro means knowing when to stake your claim.
Sometimes it means knowing when to wait for the next one.
Find your deal. Know your number. Start bidding.
Winning more auctions isn’t about winning everything you bid on.
It’s about finding the right opportunities and knowing which ones make sense for you.
Use the filters. Check the details. Set your max. Know your total cost. Keep an eye on your Watchlist.
Then let the bidding begin.
Because when the item is right and the price is right, there’s nothing better than seeing that winning notification.
Sweet victory.
Ready to find your next deal?
Browse live auctions on Equip-Bid and stake your claim.