My husband and I, in fact many people I talk to about eBay, have their own strategy on how to buy, how to bid.
Most people will say “I wait till the very last minute to bid”, or even, like my husband, will wait until 20 seconds, then put in a maximum bid and hope for the best.
Me, well I like to get in early. My theory is that if I find an item that I want and/or need, it is at a price that I am willing to pay and there are no other bids, then I will be the first bidder. Even if there is still 7 days to go I will bid. The reason behind this is you will not get it any cheaper than the starting price and if you forget to be online when it ends at some horrible hour (like 3am), or you have a life and are away from your computer, and there are no other bids you are assured of getting it.
On the other hand, if it is overpriced, never be afraid to email and make an offer. If you think it is overpriced, chances are others will also and if it does not sell, the seller has your details to contact you to take your offer. That has happened to me with a dining table that I loved but it was starting at $400. I emailed and offered $300 while the auction was still active and after it ended they contacted me and accepted my offer.