Bidding Strategy for worldwidecommerceautosales.com

[jeepcj7]

Since we can't see what anyone else is bidding, I'm curious what strategies you guys are using. Do you have a specific formula for calculating your max bid? Trying to figure out the best way to win without overpaying

 

[3gunr]

I stick to the 80% rule. I look up the average retail price for that year and model, calculate 80% of that, subtract my estimated transport cost, and that’s my max bid. If I win, great. If not, someone overpaid

 

[RickB]

I bid what the machine is worth to me for the job I need it for. If I can make $20k profit with it, I’m willing to pay up to $15k. Since there’s no war at the end of the bid, I don't get emotional. I just throw my number in and walk away.

 

[Tinhack]

The key is ignoring the retail value and looking at the hours. These machines are used hard. I calculate what a motor rebuild would cost and subtract that from my bid just in case. You gotta have a 'risk buffer' in your number.

 

[3650 Fred]

My strategy is simple: bid low. There are so many auctions on there that eventually, you'll catch one where no one else is looking. I'd rather lose 10 auctions by $1000 than win one by overpaying $10,000

 

[jeepcj7]

Thanks for replies, I look at the photos for the serial plate. If the hours look super low but the serial plate looks worn, I assume it’s rolled over. I bid way lower in those scenarios

 

[Rowdy Redneck]

20% more than minimum bid