How to Play Smart at Penny Auctions

  admin        February 16, 2013

Do you want to play at a penny auction? Maybe you have heard about it from a friend or family member; and maybe you have seen people actually win and come home with items for almost nothing. There are great benefits to playing at penny auctions but before anything else, it is going to be important for you to understand how things actually work.

The truth is that more people lose than more people win at penny auctions, so you should always aspire to be on the winning side. If you sign up for Bidiction, when they launch you’ll always win, with their new system. When you play the game, you have to be in it, to win it — and you can only win when you choose to play smart.

Here are some tips that will surely help with your game:

• Start with items that are less tempting than others. This is true for beginners; either beginners in the site or beginners in the game, in general. When you are trying to find your rhythm and feeling your way in, you need to start with items that are least tempting so that you do not get thrown in with “whales” who can easily defeat you an put your out of the game. In fact, unless you are confident enough, stay away from the price items and go for items that are more realistic. The fewer people in the auction, the bigger your chance of winning.
• Play at brand new sites. Since the site is new, some of the points discussed on the previous item will apply. There will be fewer players, so you have better chance of winning, and you can even take the opportunity to bid on price items in a brand new site, than a more popular one with a lot of members.
• Know what you are bidding for. You might think you are getting a bargain but look closely at the product you are trying to fight for. Is it really worth it? Are you really going to come after it? You have to remember that you can lose money and you can lose more money if you end up purchasing a “fake” item or an item that is priced lesser, in actuality.

The Good and Bad of Global Penny Auctions

  admin        February 16, 2013

In the penny auction scene, one more thing that is increasing popularity is global penny auctions. The internet has made such things convenient, connection people from all over the world in a perfect venue of interaction and business; and if you are thinking of exploring it, you can try to get to know global penny auctions closely.

The Good:

• Since the site is catering to people coming from different parts of the world, you can expect for auctions to be happening all hours of the day. The site is never down because bidders come from different time zone.
• Since global penny auctions are open to people from different countries, you can expect better variety since the companies will want to satisfy their clients coming the different parts of the world.

The Bad:

• The worst thing about global penny auctions is that since it is open for more people, you can expect more competition and this means that winning is going to be tougher.
• Another thing that you have to consider is how some strategies that you used to employ in the normal setting may no longer be applicable in the global setting, so re-evaluation will be important.

To better appreciate and embrace global penny auctions for what it is, it is nice to try to piece everything and dissect it.

Differentiating Penny Auction Sites from eBay

  admin        January 3, 2013

There are tremendous opportunities for bargains online, but the more opportunities there are, the more chances you have to encounter penny auctions offering discounts too good to be true. None of this is to say penny auctions are scams in the traditional sense, but their formulas give you statistics, their programs request users to pay before entering auctions, and their results are a far cry from reputable user-friendly contemporaries like eBay. In many ways penny auctions formulate themselves similarly to gambling, and just like in gambling, the house often, if not always, wins, and the rules are set up as such. Unlike eBay, which allows users to upload their own items at their own risk, and deal with other people directly and indirectly, through status-leading votes that ultimately give each and every seller a distinct reputation, penny auctions rely on countdown clocks and massive bids to keep users involved and excited at the prospect of bidding for a fifty dollar bargain–without realizing that each bid costs them money, taking away from the bargain and misleadingly costing the user too much money and too much time.

Penny auctions have their uses, but for users seeking out an eBay substitute–don’t be fooled. There are clearly defined differences between penny auctions and sites like eBay to be found in their functions and their preliminaries. To begin with, eBay is a free service. It typically costs the user next to nothing to bid on items, and the interface doesn’t encourage flippant side-spending on engagements and bids. Websites like eBay have more oversight than current penny auctions, lending the auctions an appealing but misleading ‘wild west’ reputation that is not a reputation at all, but a charming title for bidding sites that are not governed, are not checked, and are not otherwise reputable. Penny auctions spring up throughout the internet like weeds, and while none of this is intended to be an insult to the potential of penny auctions, there is a frank reality to these alternatives that is highly unreliable against competition from eBay.

The most obvious way to differentiate penny auctions from eBay is to pay mind to the URL code, but that’s not what this article is about. This article is about informing you about the differences between penny auctions and eBay in order to improve your web surfing knowledge. Teach a man to fish and he will eat for a day, but show a man how to fish – when ‘fishing’ online is as common as browsing–and he will be set for life.

Use your common sense when exploring penny auctions, and understand that for every diamond in the rough, you are still picking through the rough, without the oversight of eBay. The deals can be irresistible, but users be warned, and beware. Penny auctions require users to pay in order to bid, whereas eBay is a free service that only takes money from your pockets when you are in the act of purchasing your product.

Different Bidding Options at Penny Auction Sites

  admin        January 1, 2013

Bidding is an essential skill to gain when signing up for a penny auction. Different styles of bidding help you win an auction, or hurt you in an auction and cause you to lose out to someone else. Bidding is a careful process. Having clear knowledge, information and technique when bidding will allow you to excel over other inexperienced bidders. First of all, there are several different types of bidders. There are people who are very conservative and cautious with their bids, and some people who will deliver a mountain of bids in a few minutes to show that they are serious and want to win this item. There are also automated bid bots, that will place bids for you. All of these options are do able in the penny auction realm and can all have their strengths and weaknesses.

Being a conservative and cautious bidder is one of the best strategies you can have when participating in a penny auction. This type of bidding requires you to carefully watch the auctions you are interested in and wait until the perfect time to strike. Usually, this time falls when there are only a couple pf people bidding on an item that you want, and the countdown clock is below ten seconds. These types of bidders wait until the clock gets down to one or two seconds and then bid. This shows other bidders that you are patient and will always stop them from getting the last bid.

Another type of bidding is the power bidder. This type of bidding unleashes bids quickly and aggressively to show how serious and dedicated they are to winning that item. If you overwhelm the other bidders with a large amount of bids one after the other in a short period of time, this could cause people to give up or try again later. This gives you an immediate advantage, unless you are dealing with someone else who is power bidding as well. This bidding style is good to be coupled with the first technique. You can blast them with bids when you first come into the auction, and then wait in the background until the countdown gets low and then start bidding again. An important thing to watch for using this technique is to ensure that you have enough bids, and buy them in bulk to save money.

Automated bidding bots are an option you can use to your advantage as well. These are technologies that exist within the website that will automatically place bids of a specified about determined by you. This can come in handy when you are trying to watch and participate in multiple auctions at once and can also be very intimidating to other bidders. The other participants in the given penny auction do not know how many bids you have set up to be automatically played, so it could drive some people away from the item. These many styles of bidding are great to learn and can be the difference between participating in penny auctions, and winning them. A combination of them, and your own unique spin can make penny auctions even more enjoyable.