Do's And Don'ts For Winning Online Penny Auctions - Free Bids
There seems to be no limit to the amount of tips and strategies out there on the Web about how to win penny auctions and invest the least number of bids to do it. Some “experts” recommend using auto-bid tools, other people warn against them. Others claim that winning is most simply a matter of putting in a bid at the right time.
However, what most do agree on is that preparing yourself , practicing in a few auctions, Follow Clear penny auction do's and don'ts could save you a lot of money AND maximize your chances of winning. For preparation, familiarize yourself with these essential do's and don'ts:
Important Do's
DO establish a bid budget and stick to it.
DO check out the auction timer. If the counter almost reaches zero again and again before starting over, it indicates that there are probably few members bidding on that item ,and that means your chances of winning are greater.
DO consider some of the less-expensive items. Generally, fewer people bid on cheaper items and, again, fewer bidders mean your chances of winning are higher.
DO time your bids wisely. This is a vital factor to winning. Bidding right after the start of an auction, for example, is often a lost bid.
DO watch the auctions and list of lately won auction products to determine the best time of day that consistently have the fewest bidders (usually, the lower the winning price, the less bidders there were)
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DO purchase your bids in bulk if you can. In this way, you'll minimize your cost per bid and ensure you'll have as many as you need to complete an auction. Running out of bids at the last moment can be costly and heartbreaking!
DO check out the auction item's description page by clicking the item name. In this way, you'll be sure to know EXACTLY what you are bidding on and avoid annoying surprises after.
DO use Auto-Bidder with care! These useful tool can ensure your bids are entered automatically, so you won't have to stand by monitoring an auction...but it should be used very carefully and with your budget in mind.
Let's say you think an item's final price is going to be $5.75. A smart auto-bid might be to set up, say, 10 TCredits for between $5.50 and $6.00. Of course, keep in mind that if the price never reaches $5.50, none of your bids will be placed. Conversely, if the price goes beyond $6.00, someone else may win the auction after your ten bids have been automatically bid.
Important Don'ts
DON'T invest more on an auction than you are willing to lose.
DON'T...get overly excited when bidding. You'll be more likely to break your budget and/or use your bids up faster than you need to.
DON'T get in a bidding war with other bidders. If you can, sit back and let others battle and use their bids trying to out-bid each other.
DON'T pick an item on which to bid just because it looks like only a few members are bidding on it. A lot of members wait until the last few moments to bid. So while it may look like only a few bidders are interested, dozens more are probably watching and waiting—particularly if it's a popular item.
Here are few of my online penny auction wins:
All Categories
Computers
352
Environment
49
Real Estate
470
Software
297
Home & Family
880
Food & Drink
451
Technology
635
Career
167
Womens Interests
110
Music
35
Automotive
122
Languages
28
Self Improvement
192
Marketing
3279
Education
431
Others
673