Wednesday, May 19, 2010

Strategies and tips to winning penny auctions

Ever wonder how you could win those items at penny auction sites so easily, but while everybody else throws their bids away at high-priced items? Here are a few observations I notice from penny auction sites.

1. Most sign up with the same username on multiple sites, establishing a reputation among bidders.
2. Bidders are more likely to win on PA sites that receive less traffic compared to more popular sites.
3. New PA sites keep popping up everyday and many bidders will go to the new site to win easier.
4. Juggling between PA sites is risky if the auction items are going to end at the same time.
5. Study your opponent's patterns on various PA sites and make sure they're about to reach their win limits.
6. There are always jumpers in PA sites, so you have to outbid them easily. Otherwise, that one jumper could've won the item with a free bid.
7. Do not go into a bidding war knowing you will lose your money and bids fast. This is the number one reason people seem to forget.
8. Throwing one bid when a new item appears is a waste since other people will always bid on the auction item in the end.
9. You got to have a plan and strategy to winning the auction item. If your opponent has won bid packs and cash, then they will most likely go after the high-priced items.
10. If you still can't win an item from a penny auction, then you haven't been studying hard enough to figure out your opponents' bidding patterns. You can't charge in there blindly and win.

Hope these tips will help you. I approach penny auction sites with caution since most of the winners don't seem to have jobs which IMHO is a waste of money since all they're doing is racking up credit card debt real fast. They have to sell their winnings in order to make a decent profit. Don't take PA sites lightly since they can be addictive (similar to gambling addiction).

1 comment:

Foopile Penny Auctions said...

Hi, this is awesome. It's so nice to read an article that gives helpful tips to other users. By following your tips, nothing could go wrong. One just has to be clever and do a lot of research and create your own strategy. Study your opponent and make sure you invest in a trustworthy PA site. Have a good one!