Beginner’s Guide: A Few Tips

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You’ve seen the ads: movies for 10 cents… Blu-ray players for 5 dollars… iPads for 20 bucks. Penny auctions may seem too good to be true, but those savings are real if you know how to get them. Today we’re going to show you how.

Great! So where to begin? Well the first piece of advice for any penny auction Padawan is take your time. Too many new users get overexcited and just jump right in without knowing what they’re doing. Penny auctions are a legit way to save a lot of money, but they aren’t a dollar store. It takes strategy and skill to be successful. And just like with any other skill, you need practice and patience to learn it.

The good news is, this doesn’t have to cost you. In fact, if you’re careful, you can develop a winning strategy without ever placing a bid. For example, trustworthy penny auction sites always keep a public record of their closed auctions, sometimes going back a few days, sometimes a month or more. It’s just good business for companies that promise big discounts… potential customers can see for themselves how much members are saving. But closed auctions double as your secret weapon. Why? Because they give you an idea of how much the products you’re interested in usually go for.

Say you’re after a laptop. Most people start bidding as soon as the auction opens—and end up wasting hundreds of bids. But if you check the closed auctions and see that your laptop usually sells for around $10, then you can avoid wasting bids until the auction gets close to that point. So you can save a ton of money just by studying these freely available closed auction records… and you can save a ton more from studying the live auctions on the site, too.

Like the old saying goes, “Know your enemy.” Before you ever drop a bid, you want to have a good idea of who you’re up against. Some users hoard up thousands of bids and build a reputation for being totally unstoppable. Watching the live auctions lets you see how other members behave. If you notice someone bidding relentlessly no matter how many other users they’re up against and no matter how high the auction price goes, you’ll know to avoid auctions where you see that user bidding.

Finally, it’s always a great idea to connect with other members and get their feedback and advice. Many of the major penny auction sites, such as Beezid, have social media touchpoints like Twitter and Facebook, where you can interact with your fellow bidders and discover new tips and strategies. Some sites even host polls and contests where you can win free bids.

Penny auction success takes a little time and effort, but it’s easier than you think and the rewards are beyond worth it. Just put a few of these suggestions into practice and you’ll be a penny auction master before you know it!

2013-09-15T11:34:20+00:00 August 26th, 2013|Penny Auction Tips|