|
Penny auctions are becoming popular throughout the world, but especially in Europe. People are quickly realising that if they want to save lots of cash on brand new products, then this is one of the best ways forward. The reality is that bidding in this fashion can end up saving people in excess of 90 percent on an items retail value, which obviously represents a huge amount of cash. That being said, while some people are winning other people are losing at the same time. It is worth exploring the ways these people are doing what they are doing, to ensure that you are a winner and not a loser. Who is bidding? On most penny auctions, the top 10 or top 15 bidders will be listed. On a similar note, there will be details relating to past auctions and who placed the winning bid and what that bid was. It is worth making notes, as the same bidders will pop up time after time. It is likely that they have a strategy in place and they might be bidding the same amounts each time. Over time, you will be able to develop a portfolio of knowledge based on a range of different bidders. You will see them appear in the leader board and instantly be able to tell what their bid was. This will help you to avoid placing the same bids and outbid them! How many bids are going to be needed? A lot of people come onto penny auction sites, thinking that they know it all. They think that they have done a little research and now they are ready to win auctions, without too much trouble. This might be the case, but generally it is not going to be true. People need to be realistic about how many bids they need to place. Most bidding sites will require a few hundred bids on an auction before it ends. So realistically, bidding 1-5 times is probably not going to give an individual much of a chance of winning. That being said, placing 25 or 50 bids per auction might be enough to give you a much better chance of winning. Focus Another important point is to focus. When there are such excellent opportunities to get huge savings on new products, it is natural to get excited. Another point to consider is, bidding on multiple auctions, especially for those people that do not have experience, can be incredibly confusing. Not only this, but if bidding wars break out on multiple auctions, it might be that the bidder does not have enough bid credits in their account to battle all or any of the wars and therefore, they are likely to lose so the initial bid credits that they have used will be lost. Conclusion Bidding on penny auctions is exciting and extremely fun; even more so for the winners. You can make sure that you are in the group of winners. Learning how other bidders work and what their traits are, allocating a good number of bids and focusing on a particular auction will all help. Each of these points will help people to be much more successful than they currently are. BidGrid are not your typical penny auction site. Take a look at their free practice auctions to understand how everything works.
Related Articles -
auction site, auction sites, penny auction, penny auctions, penny auction site, penny auction sites, bidding, bidding sites, online auctions, online penny auct,
|
