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Yes! You know many online auction sites.

'Course you may have participated in some of the biddings.

The next time you decide to bid for a product or a service, do remember these vital online auctions secrets and tips.

1:Important to know the value of the product you plan to bid. Product is new? Check the price retailers are charging for it. It helps in two ways, you'll know the original cost and helps you to pay way less than the retail value, if it is old or re-conditioned.

2:To ensure that you get a good product, get the complete information and picture of the product from merchant, if the details are incomplete on the site.

3:Decide your maximum paying limit and stick to it lest you may end up caught in the 'bid war' and end up paying more than the actual cost.

4:It is always good to check a few auction sites for you may find the same product at a much lesser price in some unpopular sites simple because of the fewer number of buyers in those sites.

5:Make a note of the auction begin and end time. And the shipping time as well. This helps you to calculate the time when you want the product at a certain date.

6:Payments: Check the various payment modes the merchant offers. If checks and money orders are accepted, the delay in delivery will invariably be delayed for the payment has to clear. If the credit cards are accepted, ensure they have secure server.

7:Find out if the merchant offers a warranty or money back guarantee before the bid. Surely you don't want to be bogged down with a non-working or unsatisfactory product.

8:Always good the check the track record of the merchant, if offered one. See if you can bump into any complaints from the past customers.

9:Start your auction early to convey a message to other that you're interested in the product. If someone outbid you, you do the same. Always remember your maximum bid limit.

10:The reason to know the bid time - it helps you place a last minute bid, assuming that other bidders may not have kept track of the bid time

About the Author: Pradeep Aggarwal is the creator of the Auction Spectrum. This site is dedicated to helping people start and run a successful online auction business. Visit his site to get a free report and articles on “Tips & Tricks on Online Auction”