Effective observation means long-term observation. Examining user behaviors and tactics will allow you to bid purposefully. And it will also save you BIDs. Approach each auction with a cool head. Observe first, and only then join in.
Auction-watching can be very helpful. It gives you a solid basis on which to build your own, perfect strategy. Of course, you need to pay attention not only to auctions, but to other users as well. See if you can tell when they act without a plan.
On Wellbid, you can add auctions to a watch list. Simply click “Add to watched” on the auction detail page. This convenient feature gives you easy access to the selected auctions and can help you analyze the tactics used by their participants. You can see all your watched auctions in “My Account”.
Reached your win limit? Use the downtime to scope out other users. Revise your strategy based on what you learn. Give some thought to what you can do better next time. This kind of analysis will help you succeed in future auctions.
Keep track of site traffic, too. Figure out the best time to bid. Consider when the number of users signing in might be lower than usual. Don’t forget you can bid 24 hours a day.
Watch before you bid—it will pay off later. Don’t make rash decisions. You can learn a lot from careful observation. You’ll find out what time of day is most favorable, which auctions attract the most interest, and what tactics other users employ. So, what do you think? Does it sound like a worthwhile approach?