Posted By:
JohnIt depends on the rarity of the card. If it is an item that is common, I will usually enter a bid for I what I would like to pay days before the auction ends. This startegy has worked well over the last five years. Nine times out of ten I get outbid, but patience usually pays off in the long run (by not having to overpay for a common).
On tougher cards I am a ruthless sniper, often placing my final high bid two seconds before the auction closes. I have a small digital clock next to the computer that I synchronize with the auction. I too have become increasingly less successful at winning auctions this way.
Another "startegy" that I employ is looking for items that have strange endtimes, especially early morning. I have landed a few gems this way, including a VG-EX T206 Walter Johnson portrait for around $150 last year (midweek end time, about 6:00am Eastern). The seller in this case did not normally deal in cards, which is another reason some may have resisted bidding.
I agree with the sentiments of most in this thread: bidding has become much more competitive recently, but I believe that is for investment type cards rather than collectible types. I will stick to the lower grades, money ruins things for collectors. It would be a fabrication to say that I am not aware of the value of vintage material, but the $$$ is why the hobby has changed so much in the last 15 years (especially the last five) and that is why we are all discussing bidding strategies.