Challenges of Winning Penny Auctions
While the challenges of winning penny auctions has always been one of the reasons we bid, I find it’s the uneducated bidders who make the auction winning the most challenging.
Meeting the challenges requires bidders to be more informed than ever to win. How do we meet these challenges of winning penny auctions while still maintaining our bidding budget? This is the dilemma. While the Buy it Now option which DealDash offers is the best of any other penny auction site, no one really wants to buy it now 10 times more often than winning.
My best advice to keep the Buy it Nows and wins more in alignment is to know who your bidders are in an auction. You can read more about that in this article titled Knowing Your Competition and Why it’s Important.
Determine which bidders is in for the quick win and who is in for the long term. You can tell who has their Bid Buddy set and who is merely bidding one bid at a time and hoping to get lucky. The technique of putting one bid in an auction then resting for a countless number of bids rarely works to score a win. The Bid Buddy really is your best friend, learn how and when to use BidBuddy. Determine before ever entering the auction how many bids you are willing to place and then stick to it. I know it is difficult to not put all of your bids on one auction, but the law of averages is against your actually winning on a long-lasting auction.
Related: New To Bidding? Stop Single Bidding And Use BidBuddy
For several weeks I have watched the auctions on a well-known brand of mixer. Several of these auctions I observed were not won by the person who bid more than 1000 bids but rather by a patient bidder who watched and waited for the right time to enter the auction for a win. While the challenges to winning penny auctions will always exist, help yourself by investing time to understand when it’s the right time to bid.
Read the bidding tips and strategies you’ll find in this blog and put them into practice. Patience and knowledge really do make for a winning combination on DealDash. I encourage everyone to read up on all the tips DealDash has to offer and remember, with free, fast shipping DealDash is the #1 site to be on. Good luck fellow bidders!
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By Joan Vith
