subject: How to Win With Penny Auctions [print this page] How to Win With Penny Auctions How to Win With Penny Auctions
Do you like to get great deals on great merchandise? If you are like the millions of people out there that love discount gift cards, cheap iPads, or simply saving money, perhaps penny auctions are for you. Penny auctions are a great way to get high quality merchandise at wholesale prices. Despite the ability to get the best prices around, they are also a great source of entertainment. But how do you take full advantage of this money saving fun? In this article you will learn the "tricks of the trade" so that you too can enjoy the penny auction scene successfully. Whether you are a novice or an expert, you are sure to find a new technique to apply to your auctioning strategy.
"Tricks of the Trade"
Caution Many of these techniques may sound a bit wacky at best, but if you give them a try you will be surprised at their effectiveness.
1.) Pick your penny auction site carefully. There are literally thousands of auctions sites out there. Select a site that provides good quality merchandise and - despite what you would think newer sites can be better, according the auction experts. New sites are less crowded and deliver better opportunities to win big! Our favorites include www.bidonx.com, www.quibids.com, www.foopile.com and www.bidhere.com.
2.) Pick your username carefully. There are many different strategies to picking a username and below are some of those techniques:
a. Many penny auction experts suggest using an intimidating user name. These experts point out that someone will be less likely to bid against a person with a username like "NoWinning4You" than with the name of "SunshineBidder".
b. Some experts say bringing a little confusion into the auction scene will give you an advantage. By using something like "Auction Closed" you will potentially confuse some of your competition into thinking that auction is really closed, and you will be on the road to victory.
c. Another strategy recommended by penny auction experts is to pick a username that is similar to another users name on the site. As a note of caution this may make some of the auction-goers irritated (or even down right mad) but the experts are adamant about the success of this technique.
3.) In order to win like an expert bid like an expert! If you are new to the bidding scene you don't want to advertise it and even though you don't mean to your bidding "style" will make you stand out like a "sore thumb" if you don't know what you are doing. Here are some tips on how to bid like an expert:
a. Pick one item to bid on and stick with it those who are new tend to bounce around from item to item. If you want to bid like an expert don't do that.
b. Bid consistently - those who are new to bidding tend to bid sporadically. Don't bid 3 or 4 times in a row and then stop. Get in a rhythm and stick with it.
c. Don't start bidding right away. Although you are undoubtedly excited to get started this is not a time to let your emotions rule. Do your homework meaning you will want to watch the site for a couple of days before you jump into the scene. This will be difficult but well worth it in the end.
4.) This will sound like the strangest tip of them all but take notes! Some experts recommend using a spreadsheet format and recording the following information as it can prove to be priceless in your success as a penny auction winner:
a. "Power" Bidders these types of bidders can be identified by their seemingly endless number of bids, as well as the fact that they will even bid on an item even above what it is worth.
b. "Easy" Bidders these are the ones that are easy to beat and you will definitely want to keep track of these guys.
c. "New" Bidders this is self-explanatory. You can recognize these guys by watching for some of the behaviors mention above as "what not to do".
d. Bidders to "Watch" these are the guys you want to be careful about bidding against.
e. "Big Winners" these are the guys who have won big. You will want to record the "who, what, and when's" on these individuals.
5.) Take the above tips and develop your own bidding strategy. There are several techniques that the resident experts have adopted and used with a great deal of success. However, bidding is a very individual thing. Find the strategy that works for you and then stick with it. You will lose some of the time but that is no reason to hop around from one technique to the next. Here are just a few strategies that have been recommended for you to try:
a. Become the "Power Bidder" this is where you become "that bidder" mentioned above that bids no matter what including if the item goes above what the item is worth. The idea is that other bidders will eventually realize that it does absolutely no good to bid against you because you will win no matter what.
b. Be the "Bidder to Watch" this is where you become "the bidder' that everyone else needs to watch as you are so sneaky in your tactics. You will first watch the board carefully and the when the "Power Bidders" are busy doing their "thing" and there are only "Easy" or "New" Bidders left you come in and do your "thing" meaning you win and win big!
c. Be the "Last Second Bidder" this obviously means that you are that bidder who waits until the very last second and then you bid. This has two advantages:
You conserve bids.
Other bidders will eventually get frustrated and bored and leave to bid on something else.
d. Be the "Top bidder" you become this type of bidder when you make sure you are always the "top bidder". When anyone tries to bid against you you immediately bid again. This is an aggressive technique and the idea is that you will show others that you are serious about that item and you aren't going to let it go no matter what. Eventually your competition will move along to some easier pickings.
As a final thought, remember to keep it fun and don't get discouraged. Remember you have the potential to save money and get wholesale prices on many items! Whether you have your eye on a cheap iPad or discount gift cards, it will be worth the effort in the end. If these techniques don't work the very first time you give them a try don't give up. It will take time to perfect the technique that will work for you; but if you stick with it it will pay off in the long run. Happy bidding!
