How to calm the nerves in a bidding war

Getty Images / Credit: David Stobart Bidding wars can be stressful. You want to impress your competitors, so it can be tough to keep your cool when things get hot, so it’s important to…

How to calm the nerves in a bidding war

Getty Images / Credit: David Stobart

Bidding wars can be stressful. You want to impress your competitors, so it can be tough to keep your cool when things get hot, so it’s important to know how to react to an intense bidding war.

Coincidentally, the launch of sales is one of the most stressful times of the year for retail shops. Whether you’re in store or shopping online, you’ll be quick to spot a sign of an interest, so it’s important to know how to react to an intense bidding war.

If you’re unsure whether you want to negotiate, it’s wise to listen to the expert in the room. Carpe diem, even if it means getting your teeth into a stale offering.

Bidding wars are not the exclusive domain of competitors – many shoppers would love to be at the helm of an aggressive auction as it’s a simple way to win – so it’s worth trying.

It’s also important to follow the traditional auction format. When it comes to an auction, the key is being precise and efficient, so do your research to determine which stage of the process you’re a serious contender.

The only reason to engage in a bidding war is because you’re feeling over-the-top and the momentum is strong, so having confidence in yourself helps to keep things cool. As you’re armed with one of the best negotiating techniques around, resist the urge to act impulsively. Knowing what to say and when is the key to winning that battle.

Leave a Comment