I've been watching a lot of auctions lately on Quibids and the penny auction site Bid66 lately. I've been paying close attention to winning penny auction strategies of different players. There are multiple strategies used on many entertainment shopping sites. Such as:
1.) Immediately placing a bid right after another person over and over to intemidate
2.) Not placing any bids until the last few seconds of the auction, hoping to "snake" the other person
Both of these strategies can work but there are definitely cases where one is better than another. I think on Bid66.com strategy 2 (waiting to bid during the last 5-10 seconds) works better. This bidding strategy is better as there are less users on Bid66. Lately, I've seen auctions end at lower than $0.25. Often auctions are won for just $0.06 or $0.07.
On Quibids.com, penny auction strategy 1 (placing multiple bids) works best. Quibids has multiple users and bidders on every auction. You need to stake your claim on an auction in order to win on Quibids. For more penny auction strategies read my blog post: Penny Auction Strategy Winning Tips
Showing posts with label how to win on bid66. Show all posts
Showing posts with label how to win on bid66. Show all posts
Monday, October 10, 2011
Wednesday, September 21, 2011
Penny Auction Winning Tips
To excel on penny auction sites like Quibids, HappyBidDay, BidRivals, Bid66, Pointnbid and more you need a little bit of luck and strategy. You won't necessarily win your first auction. Penny auctions take some practice. Don't waste a bid on an auction when it has several hours left on the timer. Most bidders wait to bid in the last 5 minutes of the auction. Watch other auctions on the online auction site before you bid on an auction. Take note of the following:
1.) Ending auction price of previous auctions
2.) Number of people bidding
3.) Amount of auctions
4.) Time in your time zone and others
When taking note of the ending auction price of previous auctions look at the recently won auction page. Most penny auctions have a page that displays recently ended auctions. If you have an eye on a particular item see if it is on a winners page and how much the item sold for. Lets say you are looking to bid on a iPhone. If the iPhone recently was won for $2.35 don't start bidding until the auction is at least $1.50. This will save you some bids.
You can also roughly determine the amount of people on the online auction site if it is a small site. Most sites have about 10 auctions running at a time. Click on each auction and you can see the amount of people bidding. You can take note of the people on the site during different periods of the day. Determine what time of the day there is the least amount of people. The less competition the more likely you are to win. Most penny auction sites have less people from 2 am - 10 am. But also take note of other time zones. 7 pm in the east coast is only 4 pm on the west coast.
1.) Ending auction price of previous auctions
2.) Number of people bidding
3.) Amount of auctions
4.) Time in your time zone and others
When taking note of the ending auction price of previous auctions look at the recently won auction page. Most penny auctions have a page that displays recently ended auctions. If you have an eye on a particular item see if it is on a winners page and how much the item sold for. Lets say you are looking to bid on a iPhone. If the iPhone recently was won for $2.35 don't start bidding until the auction is at least $1.50. This will save you some bids.
You can also roughly determine the amount of people on the online auction site if it is a small site. Most sites have about 10 auctions running at a time. Click on each auction and you can see the amount of people bidding. You can take note of the people on the site during different periods of the day. Determine what time of the day there is the least amount of people. The less competition the more likely you are to win. Most penny auction sites have less people from 2 am - 10 am. But also take note of other time zones. 7 pm in the east coast is only 4 pm on the west coast.
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