Seller Tips

5 tips on how to become a top bidder on No Reserve Day

Written by Jenna | Published on 26th January 2022


Catawiki’s biggest auction event, No Reserve Day, returns for two whole days on 7-8 February, providing the perfect opportunity to secure that special something. For the uninitiated, a reserve price is the minimum price at which an object can be sold at auction. On these two special days, there is no such minimum, making the thrill of the bid even more enticing. To increase your chances of winning at auction, here are our top tips and tricks on how to become a successful bidder on No Reserve Day.


Explore special objects ahead of time


With over 65,000 objects up for auction each week, it’s all too easy to spend your day browsing rather than actually bidding. So how do you avoid choice overload? 


Most of the No Reserve Day auctions are already active a few days before the event goes live, allowing you to get a headstart and explore to your heart’s content before the real bidding action begins. So it’s a good idea to browse your favourite categories ahead of time and set your sights on your absolute favourite objects. You’ll also want to start thinking about how much you’re willing to bid. 


By preparing ahead of time and having your priorities in place, you can stay focused and set yourself up for a successful bidding experience on the day. 


Set an automatic bid


Once the bidding begins, you have the option of placing an automatic bid. By setting up an automatic bid, our system will automatically place new bids on your behalf each time you are outbid. All you need to do is enter the maximum price you are willing to spend on an item. Our system will then keep on bidding for you, by the smallest possible increase each time, until your maximum price is reached. 


This is a great strategy for No Reserve Day – particularly if you’re bidding on multiple objects – saving you the effort of having to manually place multiple bids as an auction progresses. 


Receive alerts to place a bid


If you haven’t done so already, be sure to download the Catawiki app (available on Apple and Android devices) and enable notifications. 


That way, you’ll receive an alert the moment you’ve been outbid. Particularly handy during the final stages of an auction when bids are coming in thick and fast, this will give you time to act quickly and place a new bid to stay on top.


Place your bid in the last 10 minutes


It’s tempting to immediately place a bid on a special object you’re intent on winning, even if there are multiple days left until the auction closes. But this can backfire and lead to an early bidding war that only serves to hike up the price long before the deadline. 


It’s important to keep in mind that most of the bidding takes place in the last few minutes of an auction. By refraining from bidding until the final moments, you’re more likely to win an object at a great price. 


Avoid rounded numbers


This one might surprise you, yet it’s a tried and true tactic that can make all the difference in securing the winning bid. 


As humans, we have a natural preference for round numbers, i.e. those ending in 0 or 5, as they’re simple, symmetrical and easy to process. Our bidders are no different. Recognising this bias and avoiding bids that end in 0 or 5 can help you get ahead of the competition in the last moments, increasing your chances of being the top bidder by 30%. 


____________________

From classic cars to collectable comics, exclusive watches to ancient artefacts, explore the full range of No Reserve Day auctions now.

Create your free account
At Catawiki, you’ll be surprised every week with the impressive selection of special objects we have on offer. Create your free account today and explore our weekly auctions curated by our team of experts.
Do you have a Catawiki account? Sign in
Share this article
Close Created with Sketch.
Not registered yet?
By creating your free Catawiki account, you’ll be able to bid on any of our 65,000 special objects up for auction every week.
Register now