Ten Tips for Winning Penny Auctions

1. Don't bid on an auction that has several hours left. You will get outbid. Instead, bid when the item has 5 minutes or less. Usually I wait until the auction has less than a minute left.
2. Don't bid on an auction just because no one else is. Odds are there are 50 other people watching that auction too.
3. Bid only on auction that offer a "buy it now" option. If you don't win the auction, you don't necessarily loose your money because you can apply your bid dollars to buy the item.
4. Per #3 above, only bid on items that you actually want to buy. If you are just bidding on the auction because you think it's a good price you are only short changing yourself. Bid on items that you are willing to buy using a "buy it now" option.
5. Don't confuse penny auction sites with eBay. You are paying for each of your bids, spend them wisely.
6. The best time to bid is early in the morning when people are getting ready for work. There are still a number of bidders on penny auction sites at 2:00 and 3:00am. Penny auction sites attract night owls, play in the morning instead.
7. Don't spend more than the product is worth. This is simple but must be said, don't spend $40 in bids on a $35 item.
8. Earn free bids. Most penny auction sites offer free bids if you refer your friends or write a blog post about their site.
9. Don't gamble. Don't bid on items just to win. Some consumers bid on items just for the rush of winning after a loss. Avoid this.
10. The more bids you buy, the more you save. Most sites offer bids at a cheaper rate if you buy in bulk.

Using eMaja - Much Easier Than I Thought

After my blog post a few days ago, I had to try eMaja for myself. By the looks of the 7 step directions it seemed that the website would be hard to use, but boy oh boy I was wrong. I watched the 3 minute explanation video on their site. It was clear and the directions are simple. At first when I read the directions, I thought I would have to take a nap. But after watching the video and making bids myself it is pretty easy.

Basically, once you bid on an item, everything you need to know about your account and your auctions are in your Auction Control page. On this page you can see the number of bids you have left, your point balance, and the amount of points in my point bank. I can place either a bid on the auction (1 point to score) or I can place a point (3 points to score). But each time I place a bid, I earn a point. So in layman terms, the more I bid, the more points I earn, and then the more I can bid again.

One other thing I learned about eMaja is that you can use your points to shop at the eMaja store. With your eMaja points you can purchase straight up gift cards, movies, ipods, you name it!

 Currently, I'm bidding on a Kodak 12 Mega Pixel Camera. The auction has 3 days left and is listed at $0.15. The camera is selling on Amazon.com for $80.07. 

Beezid 60 Second TV Spot

Quibids- The 3 Biggest Mistakes Beginners Make

Those who have a negative experience on penny auction sites usually do because they don't understand how the site works. Quibids.com has a great explanation on mistakes beginners make. See below:

The 3 Biggest Mistakes Beginners Make

http://www.quibids.com/quibids101/blog.php?id=16

1) Setting Unrealistic Expectations
We can't stress this enough, but users need to set realistic goals when participating in auctions.  If someone is new to an online auction, he/she shouldn't expect to win a MacBook on his/her first auction with the cheapest bid pack there is.  Not saying it couldn't happen... it could and it has... but it is highly improbable and more than likely it won't happen.  Odds will be against you at that point.  Instead, we encourage new users  to start using the site by participating in a smaller auction.  The beginner's auctions are a perfect place to start because not only are they smaller items, but they're easier to win! Start small and grow from there.

2) Setting Your Sights Too High
It wouldn't be wise to come in and immediately go after the most popular item on our site.  Yes, these are the more "sexy" products, but there are more competitors for these products, not to mention some of our more skilled 'in-it-to-win-it' veterans.  Once acquainted with the site and knowing how it all works, if you then decide to go for those sexy products, know that you need to be committed to that one specific auction and should highly consider buying the item through our "Buy it Now" option if you don't win.  Don't spread yourself too thin when bidding on the big ticket items.  Make sure to devote a little bit more time and money.  Usually any participant who is willing to spend 1/3 of the value of the item in bids has a great shot of winning the item.

3) Not Taking Time to Familiarize Oneself with the Site. 

  As with anything, do some research before you jump into the world of QuiBids penny auctions.  Each penny auction is going to be different from the next.  With QuiBids, read through and know our Terms & Conditions, know about the "Buy it Now" option, the Bid-O-Matic tool, our pricing structure and even sit back to watch other auctions.  This will give you a much better understanding of "the nature of the business" as well as what we strive to accomplish with our site.  If you don't know what's offered, you very well could set yourself up for a disadvantage in auctions.

I cannot stress enough mistake #3. Every auction site has its own unique rules. Take the time to learn the site you are on before you spend money. On mistake #2, I recommend bidding on low ticket items first. If you spend your bids, you can always choose the Buy it Now option on Quibids.com. If you buy a $10.00 gift card, you can apply your bids towards that gift card and purchase it for retail price, $10.00. One other piece of advice I'd like to offer, is only bid on items that you do intend on buying. If you loose the auction, you can still buy the product at retail price.

Low Priced Auction

I haven't found a winning auction for one penny, but I did find a winning auction for only $0.07 on beezid.com.

Bidder bostonmafia77 won Halo Reach for only $0.07.

Halo Reach is currently $58.81 on Amazon.com.

This is a HUGE savings!