4 - Check out the bidding history and then research the other bidders. This can be a lot of work, but for big ticket items, it may be worth it. At the top of the item details, there will be a 'History' link. Open it up to see how many other people are bidding and how many bids each person has. If the highest bidder has made lots of bids, this probably means that the maximum price they've set isn’t much higher than the current bid as they've eased their way up a few dollars at a time to just push the previous high bidder off their perch. The next thing you can do is view the other bidder's feedback and have a look at other items they’ve won. They may purchase similar items regularly giving you an indication of how much they’re willing to pay for an item, which will give you a guide on what you should set your maximum bid to.

5 - Beware shipping and hidden insurance costs. Always be sure to factor shipping and insurance costs into your final maximum bid. Some sellers, particularly those from overseas, will list the item at a low price but have a ludicrous postage amount. In addition to this, they may also have a compulsory insurance amount set too. Unlike the postage amount, the insurance amount is only displayed at the very bottom of the listing so you’ll need to go and hunt for it. I was stung buying an MP4 player from Hong Kong – I thought I was getting a bargain until I won the item, went through the checkout process, and discovered there was a $40 compulsory insurance charge attached. It was in the listing so there was nothing I could do about it, but it was buried right at the bottom where I didn't notice it. Beware!

Most of all have fun. Ebay and other auction sites are a great way to find collectables as well as new and used household items. The convenience of shopping from home is wonderful, and the thrill of snagging a bargain is always exhilarating. Best wishes and happy bidding!

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