Sticking to your budget should be first and foremost. If you see a website you wish to bid on and it’s in your budget range, this may be a great way to jump into the exciting world of auctions.
Before you place a bid, you want to avoid letting your emotions get the best of you. I understand if you’re excited about a certain site but in the end, you want to be sure little, if any, emotion is involved. Rather, you want to focus on making sure the website owner is able to deliver what has been stated in their ad. This is especially true with auctions because it’s easy to get caught up in the excitement of bidding in an active auction and possibly paying too
much for the website.
A common buyer’s strategy on eBay, as with most other auctions, is for the bidder to wait till the last possible moment before placing a bid on an auction that is about to end. This has been known to be an effective strategy and a realistic method of buying an established website at a good price.
Buy It Now Option
In some auctions, a seller may have a Buy It Now (BIN) price where the seller is willing to forego the auction and sell the website for a predetermined amount. This is always a benefit to potential buyers because it lets them know the “official” dollar amount a seller is willing to accept to part with their website.
Not all sellers will post a BIN when they launch an auction. Sometimes they do this to determine the level of interest an auction may have. Even if they don’t have a BIN, it never hurts to contact them via a private message or email to inquire. And even if they quote you a BIN, there’s nothing to say that a seller wouldn’t consider selling the website below their initial BIN price. As the old saying goes, it never hurts to ask and, in this case, it could
save you money.
Classified Ad Marketplaces
These types of marketplaces are where no bidding takes place. One example of a classified ad marketplace would include BuySellWebsite.com which lists the basics of a website that’s for sale. Similar to a BIN, an asking price is usually included in the ad but that doesn’t mean their official figure is set in stone. By communicating with the seller, they may be more motivated than their ad states—so it’s advisable to inquire.