Instructions
Pick a few odd times to bid on auctions. For example, bid on auctions at 5am in the morning. During these times, there are far fewer bidders and auctions can be won at a fraction of the price. Avoid bidding on peak-time auctions.
Watch for auto-bidders. You can spot these by seeing when one bidder automatically outbids another bidder in a matter of seconds. Auto-bidders can really rack up the prices. There are plenty of auctions without auto-bidders, so avoid auto-bidder auctions whenever possible.
Bid at the very last second every time. Every time a bid is placed, Swoopo increases the auction time by 20 seconds. Let other bidders exhaust themselves and waste their money before coming into the picture. It's much better to risk missing out on an auction by bidding too late than to throw money away by bidding too early.
Avoid popular items. Can you get a PS3 for half off retail? Yes, it's possible, but it's very tough. These kinds of items have a lot of people watching them, which means a lot more bids. Less popular items can be much easier to win with a lot fewer bidders.