Seven tips, tricks, and strategies to help you win more auctions on. Learn how to win QuiBids auctions and save more money.
Start out with small auctions and learn
It’s smart to start small and work your way up. Start out bidding on the littlest bid pack or maybe a gift card with low competition. Understand the important points of how the bidding system works for eachwebsite you’ll be bidding on. It is generally a wise decision to begin with the smaller products to get your first success. On several penny auction websites you can find starter auctions that are restricted to only new bidders. Be sure to make use of these novice auctions whenever you can.
Don’t get too excited and hurry into an auction. Be sure you’ve got an idea of who your competitors are before placing bids in any particular auction. Sometimes, auctions will have bidders that you probably will not want to get in a bidding war against. Keep in mind that auctions begin all the time and another auction is going to start soon, and it would be wise to hold onto your bids. Bear in mind that each bid is valuable so have patience, and don’t allow your bids and the great item up for auction to tempt you to use your bids too quickly. If you aren’t really early in, a good general guideline is to observe an auction for no less than five minutes prior to putting any bids into it so that you understand exactly who the competition is and also have a good grasp of how many competitors you’re looking at. Furthermore, you will find many popular auctions can go on for several hours and the fact is when you’re observing the bidding process you’re equally involved in the auction as those players who’ve invested a bunch of bids up until that point.
Go after the easier auctions
For instance, on QuiBids.com you will find loads of various gift cards being auctioned off throughout the day. A lot of these auctions don’t have very much opposition and therefore are much easier to win compared to auctions such as those for big TVs, laptops or iPads. It’s less difficult to win ten, $50 gift cards compared to winning one auction for a $500 TV. A good strategy is to go after the gift certificates, no matter what kind it is and then collect enough gift certificates to buy the product straight from Amazon.com or another store. You can swap out your gift cards for other store’s cards, or even for cash that is deposited into your paypal account at a site called PlasticJungle.com. They do charge a small percentage or fee, but sometimes it’s worth it. Frequently it’s a lot cheaper and easier to acquire enough gift certificates to pay for the high end electronic devices than it is to win the auction for that particular electronic device itself. This tactic is one of my personal favorites.
Understand the competition
Do you know who you are bidding against? If you’ve invested the right amount of time studying the auction site and seeing how everything works it’s really vital that you understand your competitors. Which bidders should you challenge and which should you stay away from? There’s an incredible penny auction tool on allpennyauctions which allows you to enter the name of the bidder and find out if they’re in the data bank of known users. Assuming they are, and if the particular site doesn’t opt out of having their user information stored, you can find out the number of auctions the user has taken part in, the quantity of bids they’ve submitted, if he or she were successful or unsuccessful and if they’re cost-effective according to the overall MSRP. It’s an excellent resource to use in your quest for penny auction greatness.
Establish a budget for bids
Prior to starting any auction, make up your mind about roughly how many bids you’re willing to use in order to try and secure the auction prize. We typically suggest adhering to this amount the majority of the time. The only instances we usually go over this budget is if the circumstances within the auction have become more favorable. This situation can happen if your main competitors drop out and it’s you against newer or weaker bidders. In this case it’s alright to keep bidding beyond your original bid budget. If you’re approaching on your budget and your competitors are still going strong then you definitely should adhere to your planned budget and leave the auction.
Don’t get emotionally attached to the outcome
It is important to be able to walk away from an auction if you’re facing tough opposition and you think you’ll probably invest a greater number of bids than you’re secure with. There have been emotional bidders who will spend a huge number of bids that are worth hundreds or thousands of dollars and not win a single item simply because they’re bidding against someone who is a power bidder. If the penny auction that you’re involved with has tough competition, throw in the towel. You can’t win each and every auction you’re interested in and there will always be more auctions on down the line.
Create an overall strategy
Review our penny auction tactic and strategy articles and create your own strategies that fit your needs and play style. Don’t just thoughtlessly place bids on any auction, as this rarely works out well and will end up costing you time and money.