AW Daily - Tips & Tactics - During the Auction: Resisting Impulse Buys

Home > Tips & Tactics > Tip

Page 1 , 2

During the Auction: Resisting Impulse Buys

by Dennis Prince

Whether it's raining outside, there's nothing to do, you haven't bought anything for days, or you're just plain bored--whatever it is that has you feeling a bit unsatisfied, there’s always a quick fix: Hit the auctions and start bidding.

But, as you're gleefully surfing, looking, and bidding, are you sure you're really buying things you really want, things you can really afford, and things that won't leave you muttering, "Now why did I buy that?" It could have been an impulse bid, and it might mean you're falling into the trap of bidding and buying for all the wrong reasons. Here, now, is a bit of insight into what might lead to impulse bidding, where it might lead you, and what you can do to avoid those pangs of remorse when the EOA notices arrive in your inbox.

It's Not Just a Game
Online auctions, being another exciting offering of the cyber-world, often appear as "fun little Web sites" to play around in. There's the intrigue of the treasure hunt: looking for interesting items to bid on. There's the thrill of the bidding: competing with others in a show of skill and spending power. And there's the opportunity to escape all the problems and boredom of daily living when one feels a lack of purpose or fulfillment.

But, of course, there's a reality that online auctions are business places where sellers expect bidders to honor their high bids and to treat every win as an agreement to purchase the item won. And sometimes, bidders need to ask themselves exactly why they're bidding. If the answer ever comes back, "Well, there's nothing better to do," then it's time to perform a bit of self-analysis.

It's All In the Mind, Y'Know
We've all heard of compulsive shoppers and compulsive gamblers. Online auctions have emerged as an addictive activity, providing a combination of the thrill of buying an item and the excitement of doing so in a sort of high-stakes gaming environment. Some people actually experience an euphoric sensation during the act of buying and definitely in the striving to gain a "win."

Psychologists have documented the chemical reactions that take place in the human brain that provide the euphoria: a chemical dopamine is released during these activities, which provides the individual an euphoric sensation, albeit short lived. That feeling actually can become addictive and is often cited as the reason some folks shop compulsively or gamble excessively or maybe even bid irresponsibly at online auctions: They want that high.

Next Page | Tell me more...