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Unique bid auctions are great fun and can be extremely addictive. Bidders that find they are winning on a regular basis will quickly become hooked for obvious reasons. If they are winning on a regular basis, they could be saving hundreds or thousands of pounds every single month. Who wouldn't be excited by this fact? Of course, most of the time they don't just win by accident. In order to win unique bid auctions on a regular basis over a long period of time, a strategy needs to be put into place, which will enable the individual to be as successful as possible. Strategies take time and effort to develop, so only those that are committed to winning will really be able to make the most out of these sites. #1 Initial research Before even thinking of looking at a strategy, it is important to get to grips with the basics. There will be listings of past auctions that can be viewed. Here, bidders will find lots of data such as the popular bid amounts and where the most likely bid amounts are in terms of a winner. Note as much information down not just based on the actual auction, but also the other bidders. Remember, the other bidders are essentially competing against each other, so it is important to try and determine what they are doing regularly and what they are not doing. #2 Choosing products Part of the bidding strategy should involve choosing certain products. This could be anything, but there needs to be some strategy behind it. For instance, some bidders prefer to go with the high value products, which have a higher bid cost. They get used to bidding in this manner and when they win, they find that the savings that they achieve are well worth the wait. On the flip side, many people go for lower value items, such as watches or iPods. Obviously the bid cost will be lower, but at the same time, there may be a lot more competition in terms of bidders and the payback is also lower. #3 Developing the strategy The next thing to do with unique bid auctions is actually develop some kind of strategy. For instance, some people will keep bidding regardless of the number of bids they place, until they have a unique bid. When they have a unique bid, they will stop. If they do not win, they simply move onto the next auction. Other bidders prefer to cap the amount of bids they place. They will place, say 15 bids per auction. Regardless of whether they get a "unique bid", they will continue to bid up to their fixed amount. Hopefully, they will pick up a range of unique bids which will give them a great chance of winning the auction. Others will bid just once per auction, or budget in terms of cash; say £25 per auction. The strategy is in one sense almost irrelevant, what is more important is that the bidder chooses a specific strategy and sticks to it. Conclusion To become a winner at unique bid auctions, the bidder must learn. They must research and use this research to develop their own winning strategy which will give them the highest chance of winning. To test out how exactly unique bid auction sites work, head over to BidGrid where you can sign up for free and bid on the free practice auctions.
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