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How To Find The Average Selling Price Of DealDash Auctions

Bidding in a pay to play online auction like DealDash is all about discipline, patience and having realistic expectations.

Terry B. explains the patience aspect well in his article Patience Patience Patience. Keep in mind that although someone may win an Apple iPad for $0.37, does not mean that’s always going to be the case. As you can see the average selling price for the Apple iPad Mini 32GB Black Slate is $79.22.

Apple iPad Sale DealDash

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In case you don’t know how to find the average selling price of an auction, just log out of your DealDash account. If you’re logged into your DealDash account you’ll see this normal view of the auction, what it sold for, who won, etc.

DealDash.com

The logged out view displays the item and average selling price of that item on DealDash. This works for any auction so go ahead and try it yourself. Hopefully this helps with your overall bidding strategy.

DealDash.com Average Selling Price

I believe the secret to winning auctions is by staying active in it. However, before deciding to get involved and commit to an auction, it is imperative to stack up on bids. Eliminate the possibility or need to purchase bids after an auction has started and rather stay focused on the auction itself. This way you’re not scrambling to buy more bids or use one of your Buy it Now options to get additional bids loaded to your account in order to stay active in the auction you are bidding in.

Good luck!

– Sivaraj

 

Surprisingly Simple Calculation To Help You Determine How Many Bids To Use Before Stopping

I have had a lot of experience with DealDash. I have learned a lot about winning and it does have a lot to do with patience as Terry B. explains in his article Patience ❤︎ Patience ❤︎ Patience.

Using the BidBuddy and having lots of patience are very important in winning. I also like to put a few bid on lots of different auctions because sometimes auctions will come around where you just get really blessed and the auction will end early and fast! Sometimes by just placing 3 or 4 bids would land me an easy win.

Before you ever start bidding, I suggest to look at the winners page and find out the names of the bidders that bid a lot of bids. Plus studying the winners page can give you an idea on what type of items sell at lower prices and what items will likely require you to bid a long time to win. If you want to be sure to not lose money, only bid on items you can afford to do the buy now on if you don’t win. That way you get the item in the end and all your used bids back. Dividing the cost of the item by approximately 15 cents per bid will give you an idea when it’s a good time to stop bidding and do the buy now.

How many bids should I use before stopping and using the Buy it Now to get bids back? Let’s take a look at an example of a $50.00 item and dividing the cost of the item by $0.15 per bid.

DealDash

In this example, stopping around 333 bids is a good idea because otherwise you’re likely going to overpay for your gift card. Remember you also have to pay the final sales price of the item so it’s good to calculate that cost as well.

DealDash can be a great place to get great deals, if you are smart about your bidding. Get in at the beginning of the auction and see who all is in the auction with you. Once you know who the big bidders are, you will get an idea of how high the auction price will go. Most important is be considerate not to do what is called stomping on others bid time, or the other bidders can get mad at you and bid more than normal just because they wont want you to win. Remember everyone gets credit while they are high bidder that goes towards earning free bid rewards. So bidding right after another bidder can cause some hard feelings. The only time I bid quickly is when I am wanting to get the price to the $5 cutoff period / No Jumper Limit to prevent other bidders from joining. Hopefully other bidders understand me bidding quickly then. Sometimes I mention it in my profile comments so other bidders know that I plan to quit bid stomping once it gets to $5.00.

From DealDash’s Biggest Fan: BigDaddy33

Winning DealDash Auctions Requires Patience

Patience ❤︎ Patience ❤︎ Patience

Winning DealDash Auctions Requires Patience

You’ve heard it said that “good things come to those who wait”. Nowhere is this more true than in the world of penny auctions.

Now, you may be thinking I’m referring to patiently waiting for the auction to end after you’ve loaded up your BidBuddy with 5000 bids. Actually, that’s not at all what I have in mind. Hopefully, this isn’t your idea of what it takes to win auctions. I call this the “set it and forget it” approach to bidding, and while it can result in a fairly high number of “wins” it rarely results in significant savings.

In “Learn To Swim Before Diving In” we talked about the importance of taking some time to learn how auctions work before getting yourself in over your head. This requires patience.

How about waiting for an item to come up for auction that you really want rather than jumping in and trying to win every item you see. Once again, patience required.

So, what about once we’re involved in an auction? Why is patience so important here? Because, you don’t just want to “win” auctions, you want to win auctions without spending more bids than needed. You don’t have any control over the ending price of an auction, but you can control the number of bids you use to win. There are essentially two ways to win auctions without spending lots of bids. One is to win very early in the auction because of little competition. These wins don’t come often, but when they do come they are very profitable, so you may decide to risk a small number of bids in a large number of auctions and simply play the odds. Using this strategy will result in a very small percentage of very profitable wins and will require something in particular. Yes, you guessed it – patience.

The other way to win auctions without overspending your bids is to outwait your competition. Anyone who has used this strategy will tell you that it requires an extreme amount of patience.  Success with this strategy requires you to wait until all other bidders have exhausted all the bids they’re willing to spend.  Bidders who are willing to Buy It Now routinely bid right up to the point where the cost of their bids plus the auction price equals or even exceeds the retail price of the item. As bidders begin dropping out of an auction, you’re going to feel a strong temptation to jump in. Remember, patience!  Even when an auction comes down to only two bidders, you can’t get too anxious. You’ve got to keep in mind the fact that there are most likely others, just like you, waiting as long as possible to get in.  At this point, you’re engaged in a game of “chicken” with the others waiting in the wings. The waiting can be a nerve-racking experience, to say the least, but success often goes to the bidder who can hold out the longest.

Ask any real estate agent the three most important factors when valuing a property and they are sure to tell your Location, Location, Location. Ask any successful bidder the three biggest factors when it comes to winning auctions, and you’re sure to hear Patience, Patience, Patience.