I gave up a few years ago, trying to 'win' fleabay auctions. No matter how tatty the item is, there's always someone out there that wants that tat more than you!
I've learned to be patient on the 'bay and pick my auctions carefully. You quickly get a sense of which ones will turn into bunfights, and it always amuses me when someone ends up paying far too much.
Although it does depend what the auction is for. I enjoy vintage watches and vintage silver jewellery. For the former, I'll research the lot to find the ballpark price and set my budget accordingly. For the latter, I generally won't pay more than two and a half times the scrap value, which currently stands at just shy of 60p per gram. If it means losing out, then so be it, there's always another day and another auction.
Motor racing memorabilia is a different kettle of fish however, and I've been known to fight tooth and nail if the item is right.
