I always join online bidding but I never get to win anything at all. So I was wondering maybe there is a technique in doing this. Then I decided to research on how to win an auction. It's where I learned that there are a lot ways to win one. Let me share the new knowledge I gained so far. So here it goes.

• First you've got to know the auctions Before you even start bidding, the first thing to do is to attend as many auctions as you can and observe how things go. Check and compare the quoted price to the actual price of the item. And always add at least 10 percent to the quoted price. Most especially if the item is rare and not sold in other markets.

• Then, get set to buy

Before the bidding or the auctions starts, make sure you organize your finance first. Make sure that your solicitor checks the sale contract. Check the condition of the item you are about to buy. Make a research on the place or the item that you are willing to spend money on, check if it's all worth buying.

• Beware of the dummy bidders Most of the bidders are dummy bidders; they are used to push the auction prices up. Try to identify who the true bidders are. This is the best tool that auctioneers sometimes use to get more money out of you. The dummy bidders will start bidding and even bid against you so that you will try to bid higher. If they have reached the satisfied amount they will stop bidding, so that you will win the auction, without you knowing that you have been played.

• Bid only up to your Limit, do not over bid Right even before the auction starts, you must decide on your maximum bid. Meaning set a maximum amount you are willing to spend. Having a bidding limit is the most powerful and strongest tool in auction success. Do not over bid; this is where your knowledge about the item being sold comes in. If you think that it is over the limit of the actual price, then stop bidding. It's not at all worth winning an over-priced item. Make sure that you bid firmly and confidently so your opponent gets an impression that they will never win the auction. Try to slow down the bidding by bidding in smaller amounts, then later on bid higher. But once you hit your limit, better stop bidding.

• Lastly, do not forget the 4th rule

Never ever break the 4th rule of bidding. For some buyers, a chance of getting a good item is bidding in a good price. But whatever happens, stick to your bidding limit!

That's the basic knowledge we know about bidding. Now, here are the secrets you've all been waiting for.

• Jump Bidding In jump bidding, the bidder tries to frighten the opposing bidder. How does this work? It's done by offering a much higher bid. For example, the original price is at $30, and then the bidding goes up only about $5 each bid. What you can do is to jump from a $5 bid to a much, much higher bid like 40 dollars higher. This can scare off your opponent but it can also backfire at you. It's either the opponent makes his own jump bid or it may cause a panic to the opponent assuming the item must be worth spending more money on.

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