When to Buy it Now on DealDash
One thing many DealDash.com customers appear to be most confused about is when to Buy It Now, also known as BIN.
Perhaps some new customers do not yet know when to buy it now because they are not even aware they can stop bidding at any time during the auction, buy the auction item at retail and get all of their bids back free to use again in another auction.
I once stopped bidding on a $25 gift card, did a BIN, got my bids back and put them on a $50 gift card (with fewer competitors) instead. I ended up winning the $50 gift card (worth twice as much) for half the bids. You need to know when to buy it now because once you win an auction, it’s no longer possible to use the BIN option on the item you win.
So when to buy it now on DealDash? That mostly depends on the cost of your bids and the closing cost of winning. If the cost of your bids and the final closing cost combined are about to exceed the retail value of the auction item, it is definitely time to BIN. That is the point at which it makes no sense to continue bidding. Let me give you an example.
According to my calculations, a long-time Deal Dash customer “won” a $25 Bed, Bath & Beyond gift card for a total cost of about $59.33—more than enough to do a BIN on two $25 gift cards. Her first bid was placed at 26 cents and she continued to bid until the auction closed at $9.83 (which I will round off to $10 because she used even more bids at the end). Based on the number of bidders actively participating in that auction, she must have used at least 33 bids for every dollar. That means this bidder used about 330 bids to win a $25 gift card. Even if she bought her bids on sale for 15 cents each, she used $49.50 in bids and still had to pay an additional $9.83 when the auction closed. *Of course it’s possible to collect free DealDash bids and win bid packs, so perhaps many of the bids were free bids this bidder had earned which we are not aware of.
Related: Buy it Now After Quick and Easy Math
The point of this article is that you have the option to gain the best shopping experience from DealDash when utilizing the features offered to you. Take some time before jumping into an auction and determine when to buy it now. If you do not win an auction, you have seven full days to go to your dashboard and do a BIN. Compared to other penny auction sites, DealDash.com has the best BIN option I could find.
