The 5 W’s Of Penny Auctions

As we all know, penny auctions can be fun, but can also be very frustrating.  Just when you think it’s going your way, here comes that other bidder that’s been sitting back patiently watching you bid to your limit then jumps in at just the right time to take it home. How do they always jump in right when your close to your stopping point?  Well, they’ve probably taken the time to research the items and the bidders, before they go “all in” so to speak.

Lots of patience and a little bit of knowledge can go a long way in helping to increase your winning edge. Here are a few questions to ask yourself.

– Who? Know your fellow bidders!!! There are lots of resources you can use to your advantage. Always look at the bidders that have placed a bid on the auction that could possibly be a threat later. Deal Dash has made this easy for you, just hover over the avatars and see who you’re up against. Pay attention to bidders that are frequently aggressive and remember those names. It may save you a lot of time and bids to know who your up against before you get too far invested and end up with another BIN (Buy it Now).

– What? Bid on items that your are willing to buy anyway.  At least this way if you don’t win the auction, the BIN option will allow you to get your bids back for another auction.

– When? Pay attention to the winners list and see what the items you want are selling for. When are they going for cheap and when are they bidding through the roof. Certain times of the month and even certain days of the week can make a difference. You can usually find a pattern if you take the time to research.

– Why? We’ll we can all agree on this one… Because it’s fun! Why else would we be here?

And finally….

– Where?  Deal Dash of course! Learn how DealDash works in this video.

Remember, it’s as much a game of skill and knowledge, as it is luck. With a little research, you can enter your next auction armed and dangerous!

Happy bidding!

Robertsfam