Part Two: Bidding Strategy
This is part two of a two part series which focuses on computing the cost of bidding and my auction bidding strategies. Here we will review the bidding aspect and how I implement my personal bidding strategy on DealDash.
When I locate an auction item that I want, I make one bid as soon as it goes live and of course before the $5 No Jumper limit. I then just sit back and watch the auction bidding patterns for a bit. For those of you not aware of what the $5 No Jumper limit here’s a clip from the Official DealDash Blog Glossary.
No Jumper™ auctions is a type of auction that makes winning easier. The big difference between No Jumper™ auctions and normal auctions is that new bidders can’t enter the auction after $5.00. This means you won’t have to compete with users that didn’t bid in the auction from the start, before the price reached $5.00! (sometimes the price is set at $3.00 too!)
Depending on the item you can sometimes just leave and come back in an hour or so. It just depends on how valuable the item is. Usually the higher the value the longer it will take for the auction to end, however this is not always the case.
Here is the trick. Watch and try to determine who is bidding on auto bid / Bid Buddy. Keep track of that, and when you see that it is down to three people that is when you start your auto bidding. Put in the whole amount that you want to bid and then just let it run. Keep checking it and watching, so if it goes back up to like four or five bidding again on auto, take your bids out and conserve your bids again until you get back to just three bidders, and then you jump in again. Eventually what happens is it will be you and 1 other person, and if you have more in your Bid Buddy then the other bidder does, you will win. Just remember to figure out the total cost and then only bid the amount that you know you can and still save money. Sometimes you will just have to walk away and bid the next time or use the Buy it Now, but do not just waste your bids.
Thanks for your time and happy bidding on DealDash, what I consider to be the best auction site on the net after trying many!