Penny Auctions for Beginners:
Some sites offer newbie-beginner auctions, these are for bidders that have never won an item before and are wonderful if you´re just starting out because the competition is slim and not as aggressive. Get your feet wet, learn how the site works and learn what works for you.
When are you are ready to play with the big boys:
Once you have won your first penny auction and are ready to start competing for some bigger prizes, make sure you keep a few things in mind:
- Who are your challengers? Do they have a bidding history when you view ended auction history on the site? Do they seem to bid a lot or not very much? Try to find out this information before you get into a bidding war with a bidder who plays to the death.
- What is the actual value of the item? Make sure you do some comparison shopping before bidding, and ask yourself how much the item is worth to you.
- Set a limit and don’t go over it! Make sure you set the amount you are willing to lose and know when to stop.
- Pay attention to how many bids you have left. Keep an eye on how many you have left as you go.
- Pay attention to the auction. If you doze off or change tabs mid auction it is almost guaranteed somebody will snag it from underneath you
- A stable connection is really important. Make sure you are bidding on a reliable Internet connection and make sure your laptop is plugged in!
A few simple steps and a little research can put you ahead of the game and increase your chances of winning.