Nova or F12 Berlinetta? Of course you want the Ferrari.
Do you like it when you keep bidding on items and don’t win? Of course not. Who would? No one likes to lose, and by continuously bidding and not winning you’re only throwing your money away.
Let’s face it, we don’t just like bidding on penny auctions because it’s fun to bid, we like to win.
To win more, you must stop throwing away your bids.
These 6 penny auction tips will help you become a better penny auction bidder.
- Start out by pursuing bid pack auctions on new penny auction sites. Once the site grows you’ll have a sizable bid bank to go for the higher dollar items. Plus, your components watch and can see in the auction win history that you won so many bids. To find out about new penny auction sites subscribe to our updates and join our forum.
- Start with sites that offer 100% Buy it now. This allows you to both allow your name to be recognized and win items even if you lose. Buy it now means you can purchase the item you’re bidding on if you don’t win for the price they state it’s worth, i.e. sometimes this is MSRP and can be more money the current market value, but at least you didn’t just throw away money. Penny auction sites that offer buy it now include
QuiBids, DealDash, BidCactus.
- Observe a new penny auction site for a few weeks before joining, or at least before buying their larger bid packs. Watching individual auctions will help you get a feel for your bidding components and will help you recognize which bidders are more apt to go all the way for an item (bidders really do bid over the value of an item just for winning and reputation sake). If the site displays closed auctions be sure to check these out and keep note of the bidders and winners.
- Be a safe bidder. Never use personal information as part of your bidder name. Sore losers have even sent Facebook threats/intimidating messages to bidders who have used identifying information in their usernames.
- Budget, Budget, Budget. This is so important! Once you start bidding you will see how easy it is to just login to PayPal or click enter on your credit card info and this money very easily can add up. So be smart about it. Say you have a budget for gas and groceries, bid on sites that offer buy it now auctions for gas gift cards and gift cards for stores like Walmart, Target, Whole Foods, Trader Joes and buy your groceries this way.
- Be wary of any penny auction site! Find out anything you can about the site, their terms & conditions, privacy policies, shipping times, payment and delivery terms, and ask them questions. If they’re lacking in the customer service department you need to watch out.
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Judith Rogers November 25, 2012, 11:28 pm
I really appreciate the advice and suggestions offered in this (and similar) article(s).. The articles are well-written, candid and easy to understand. The generous helping hand to those of us new to penny auctions humbles me. Thank you, Amanda.