How To Win Penny Auctions
Hey what’s up, this is Paul. I have set up this site because I once was in your shoes, losing money on bids and it wasn’t funny. Here you will find the best strategies to win, tips & tricks and the best penny auction sites to join. If you want to thank me after you win please make a small donation at www.supportunicef.org for children in need, a few dollars won’t hurt.
Penny Auction Sites: What are they?
For those of you who don’t know, this is how penny auctions work: The items are put up for sale by the penny auction site. In order to participate in a penny auction you must purchase bids from the house. Each bid ups the price by one cent. Each auction has a 15 seconds countdown timer. The timer will reset back to 15 seconds every time a new bid is placed. If your bid is the last one you win!
NOTE! Their prices are a bid misleading. You have to buy bids, right? So let’s say the price for a bid is 60 cents. If one bid ups the price by one cent to get the real price you have to multiply by 60. So if an iPhone was sold for $12.00 that’s like $720.00 worth of bids.
Best Penny Auction Sites to Join
This is how it goes. Your chances of winning are in direct proportion with the number of users a penny auction site has. If a site has become very popular your chances of winning something will drop significantly. This is because the larger the user database, the larger the number of people bidding on that site, thus making it harder for you to win. Right now the easiest site you can win is Beezid. They have a promotion going on right now so click here to get free bids when you register.
Useful Tip: Check your internet connection before you decide to join in any penny auction site. Take a speed test right now (click here to take the test) to find out where your connection is at. Connectivity should be of at least 256kbs in order to play at penny auction sites.
You need have an internet connection of minimum 256KBps to be able to play on penny auction sites. Anything below can result in delays between you and the server and that will lead to timer lag. We don’t want lag, with a laggy internet connection we can bid 3 seconds later, making it impossible for us to keep up with the rest of the bidders.
Pick a smart username!
The participants of penny auctions are people like you and me, and the only way to win is either by having a lucky day or by out-smarting the people we bid against. I don’t know about you but I don’t believe in luck. You can choose between two types of usernames, sneaky or intimidating. My username is “Auction Closed” and a lot of people are falling for it.
Sneaky: Here are a few more ideas, check them if they are available when you sign up: Bid Closed, Gone, Private Auction, Item Gone, Bidding Is Closed, Closed, Auction Down, Ended etc. you get my drift. I mean..even if they realize your trick they won’t feel secure bidding against you, you are not the average Joe.
Intimidating: Your username is a nickname that identifies with you and with your personality. The trick with an intimidating username is that we can manipulate how bidders think of us. But it doesn’t have to be offensive, it’s childish and if it’s too offensive the other bidders might react the same when it comes to gameplay. So it must be intimidating but not offensive. A few good examples would be: iBidForever, I Always Win, YouWontWin etc.
I insist so much on usernames because bidders don’t feel comfortable around them and they back off from the auction, especially if they are new to penny auctions. BUT if you don’t find one available or you have no ideas it’s not indispensable, the strategy to win is.
The Perfect Penny Auction!
First thing you must do when you drop on a penny auction site is to analyze the board. You want to spot the power bidders. These guys have a lot of bids to play with, and I mean a LOT! So here is what you need to do: Take a look at the penny auctions you are interested in and note down the bidders. Come back 3 hour later and ignore the auctions where you see the same bidders at the table. So now that you have filtered out the power bidders keep this in mind:
- Bid on one auction only! and no more than 3 participants including you!
- Don’t bid on the first row. When an auction ends it will disappear; this way the previous penny auction will go up, making the first row to have the longest auctions. And if it’s the longest auction you want to avoid that, sometime power bidders pay more that the item value just for their ego.
- The perfect price range you want to pop up your bids is from $2.20 to $30. Don’t want to go into mathematics but I did a lot of research on this.
Penny Auctions Strategies
Penny Auctions: Intimidating Strategy
Remember I told you about usernames and how can they reflect your personality. Well..with this strategy you will need an intimidating username. This is very simple and the fastest way to get your hands on an item.
95% of the penny auction participants wait until last seconds to place their bids. This gives them the impression they have more chances of winning but in reality this is not the case. It doesn’t matter when you place your bid, you win only if you don’t get outbidded. So here is the trick: you must bid very aggressive in order to manipulate how the other bidders think. Basically you want them to think you have a lot of bids on your hands and that you are a penny auctions hardcore player. Remember that scene in the movies where 2 fast cars drive towards each other on a collision course, well..you have to make the other participant(s) swerve. So here it how it goes, when you get outbided you place your bid as fast as you can, “this is my item” kinda attitude.
90% of the people on penny auction sites buy the smallest bid pack and no other package after they spend the bids. Again I don’t want to go into mathematics but this is based on how the advertisement is done compared to the reaction of the user etc. I know all this insight information because a close friend of mine worked in the financial department of a very popular auction site (I won’t give names). Some of them won’t take you serious at first but when they see you pass that magic bids placed mark they will eventually back off.
Penny Auction Sites: Wait to Take Strategy
Use this strategy if you have a bit of time on your hands. This is going to be slow but this is the best strategy if you want to rob Beezid. It’s also the safest strategy, doing this chances for you to lose are close to 0.
OK. So who do you think is bidding on Bid Package penny auctions? I’ll tell you! People who have very few bids left, making bid pack auctions to be the easiest to win. Most of the participants in auction won’t have 5 bids left. The worthier and easiest to win considering your number of bids ( 130 bids ), is the 200 bids pack and the 500 bids pack. So here is what you must do: Divide your total number of bids to 3 and spend only that amount on each 200-500 bids penny auction. Start only after 50 bids take place from other people. If you stick to the rules in the worst case scenario you will win only one auction and still making it profitable for you. Do not bid on any other bid pack, less that 200 it won’t be worthy and bigger than 500 and you have people with many bids on your head. Do not bid on Gift Cards + Promo Bids! Stick to bid packs only!
This works great with a sneaky username because so many newbs bid here. Not so many of these bid pack penny auctions pop up every day but if you have the time it definitely worth. You can see the coming auctions days before. Anyway after you win a couple of times you can go for cool items such as iPhones, laptops, TVs etc, who wants to win $10 gift cards anyway…..
That’s about it. Here is again the registration link to get free bids: CLICK HERE FOR FREE BIDS. Happy Bidding!