The hardest thing about bargain hunting is not getting caught up in the excitement of the auction.  Yes, this seems to be where many buyers get in over there head on an item. 

You should first set a price that your bid will not go higher than, this is kinda like only walking into the casino with as much as you can afford to loose.  Then for the first day, you WILL NOT BID ON ANYTHING!  Just choose the option to watch the items of interest.  See how they are bid on and what they go for,  now you have enough of an educated guess to get back into ebay with a bidding attitude.  Only bid on items that seem legit otherwise you will spend more time sorting out the good bids and bad ones, not that these are always bad but why set yourself up for a letdown.  Also ask the seller questions, sometimes you can strike a real deal this way.

Hope you enjoyed my ebay guide on bargain hunting on ebay.