The Losing to Win Strategy Explained
Often times I enter a couple of auctions simultaneous, for similar items, hoping to come out on top of at least one of them. I do this by losing to win. Here’s how.
Once I was bidding in two different auctions for the same sound sleep machine and against the same bidder. We were just slowly losing our bids by trading them back and forth for the auction win between the two of us. I wondered, what if one of use stopped bidding in one of the auctions. Would the other bidder do the same in the second auction? Would this losing to win strategy work? After all, we seemed to be the only two bidders passionate about winning this item.
There was one way to find out if losing to win would be a viable strategy! I took the chance and let the other bidder win the first auction. Sure enough, one sound sleep machine was enough for this bidder and he/she exited out of the second auction, allowing me to win.
When I find myself bidding against the same bidder in two auctions for the same item this losing to win strategy is one I will always keep in mind. I also think several other bidders have the same philosophy. However, just as the auctions can be unpredictable, so can your competition. I’ve found that not all follow the same losing to win strategy.
Related: Why Losing Is Not Necessarily A Bad Thing
I again found myself it two auctions for a similar Home Theater system, bidding against the same bidder. As both auctions seemed to wind down, with just the two of us trading bids, I decided to see if I bailed from the one auction, would this bidder do the same. Keep in mind these items were in fact different brands and had prices however I elected to jump out of the higher valued auction, in hopes they would reciprocate and stop bidding in the second auction. I took that leap of faith!
Well this bidder was obviously not willing to do the same and proceeded to bid, stomp, and bid some more with me. I guess she needed two Home Theater Sets. We went on for another hour or so trading bids with each other while other bidders came and went. Finally after burning over 450 bids I decided this was enough and left the auction. Strangely enough, this other bidder also left the auction soon after, giving the win to someone who had used less than 1/4 the bids just one of us had used. I of course ended up using the Buy It Now option to get all my bids back, but it just goes to show, not everyone you bid against will allow you to use the losing to win strategy.
By Kim Finnegan
About me: I have been a bidder on DealDash since Sept 2012. I have won over 170 auctions. I am married with 3 daughters and 2 grandsons {one that holds my hand and one that holds my heart}.
