Virtually everyone knows the money-saving power of eBay. You go online and find the exact same item that you saw at the store, brand new, for 10, 20, even 25% or more off! If you don’t have an eBay account, I would HIGHLY recommend that you get one, there is some serious money to be saved there. There are hundreds of thousands of retailers that have an eBay store online. They sell their products at retail when you walk in their store, and at wholesale when you shop at their store on eBay – same exact item.
Both the problem, and the benefit, of eBay is that often there is not one selling price. When the item is sold at “true auction,” there is an opening price and and ending auction price. If you are lucky, during the auction, you:
1) won’t get outbid;
2) will bid enough to scare off the other bidders, but not so much that you paid dramatically more than if you would have waited to bid until the last minute; and
3) will not get into a bidding war with another bidder.
Most people online know me as Jonathan Winter, the internet MoneyTalk guy, but I am also Jonathan Winter the photographer. I love taking photographs! The other day I was shopping for a very expensive lens. One called a “Macro Lens” which is used for taking extremely close up photographs. One of the best lenses for this type of photography is the Nikon 105mm f/2.8G ED-IF AF-S VR Macro Micro-Nikkor Lens. This lens is used for taking pictures of everything from a postage stamp to a beetle. The picture quality is superb and the lens, well it’s not cheap, approximately $900 if bought just about anywhere – including eBay!
Now, you know that ole’ Jonathan is no dummy, I won’t pay full price unless I am lost in a dark forest and the only way out is to purchase a flashlight at full high street prices. Unfortunately photographic equipment rarely goes on sale, so to purchase a lens such as this, I would very likely have to pay the full $900, or darn close to it – enter PowerSnipe…
I went onto eBay and searched for the “Nikon 105mm f/2.8G ED-IF AF-S VR Macro Micro-Nikkor Lens.” The “Buy it Now” prices were $899, $920, $888, and $865. There were also six auctions for the lens underway. Some auctions were just beginning, with opening bids of $50, and $34 respectively. Others were near completion, with current bids of $750, $945 (wow!) and $815. Then there was one in the middle at $310.
I opened up my PowerSnipe control panel and entered the eBay auction number. PowerSnipe asked only one question: What is the maximum I am willing to pay? $700 I told it. In fact I went into all three remaining auctions and gave each auction the same $700 maximum bid, then I used a handy feature on PowerSnipe called “Bid Groups.” I grouped all three auctions, so if I won one, the others were cancelled (I don’t need three lenses).
The way PowerSnipe works is very cool. It waits until the last micro-second of an auction and then puts in a bid at the minimum increment needed over the current bid to swoop in and take the item away from the other bidder. You win, they lose, virtually every time! Aside from the thrill of absolute victory, and the feeling that you just got away with something that you probably should not have gotten away with, the combination of PowerSnipe and eBay yields ridiculous money saving opportunities. Here’s why.
1) There is no bidding war. A lone buyer who submits a single bid (which happens a lot) is outbid at the very last second with no time to react; and
2) Disciplined buying approach. You will not get caught up in the moment only to regret it later. This is particularly true when you use the PowerSnipe Buying Group function which allows you to place bids on the same item from different sellers and then automatically cancel the remaining “snipes” when you’ve won.
PowerSnipe says the average eBay savings is 25 percent. I think they are being modest. If used properly you can approach 35 to 40 percent on popular items and 50 percent+ on less popular items.
By the way, I never finished my story. After using the PowerSnipe Buying Group function, I purchased my Nikon 105mm f/2.8G ED-IF AF-S VR Macro Micro-Nikkor lens for $681.01 a 24% savings – a great savings for camera equipment, even on eBay. PowerSnipe offers a free trial. If you’d like to learn more, try PowerSnipe for free.
Have fun, this will knock your socks off.