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Is Penny Auction All About Chance and Coincidence?

By Sophia Milller Subscribe to RSS | March 6th 2012 | Views:
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The connotation of the term ‘bidding’ has changed a lot over the past few years, especially because of the emergence of internet as a powerful media. There was a time when auctions used to be held in large halls with the bidders vocally reciprocating to the bid value. But the world of internet has changed this concept a lot. Now-a-days, online penny auction has become a widely accepted norm. There are no sure-fire strategies for winning these auctions and the auctions are mostly about chance and coincidence. But you can take some tactics in order to raise the probability of winning. Here are some secret tactics for bidding auctions explained for your further reference. However, you should always apply your intuition and common sense to win these auctions.

1. Save any free bids you come across on online auctions sites. There are people who have won auctions with few free bids. But that’s a mere twist of luck. You should always save these free bids.

2. Do not spend more than your capacity on the penny auction sites. You should not take your decisions hastily. Browse through the whole range of products that are offered well below their face value, and take calculative decision. Think about how much loss you can bear with before bidding.

3. Always bid at least three hours before the bid closes. When it is less than three hours towards the bid close time, you won’t get a chance to win the product.

4. Don’t just fall for a product as because a lot of people seem not going after it. You may seem a few people online, but there are probably quite a few others who are silently watching the bidding auctions.

5. Don’t get frustrated if you lose a bid. Winning a losing is all part of the game. You should be habituated with it and get more calculative next time onwards. The more important part is you should take lessons from the mistakes you made last time.

6. Stick to relatively inexpensive items to start with. Especially when you have a tight budget, you should for less pricy items only.

7. Do not waste time on a single bid. Flip through the bids as there are literally hundreds others on these penny auction sites.

8. The best time to bid a product is early in the morning as most of the people head towards their working places, colleges and elsewhere during this time. Don’t choose evening or late night as because most of the bidders choose these hours for visiting auction websites.

9. When you have made your mind for going for an item, stick to it. Don’t just jump around. A good amount of research and browsing through all the items is required. But that does not mean you should not stick to particular items. Always track the items you have made your find for.

Be sure that all your contact information is updated and your postal address is clearly stated. Bidding auctions is an easy process and a fun thing to do. But as a payer, you should be extremely careful while on these bidding sites.

Sophia Milller - About Author:
Make the most of the innovative penny auction site. Bidding auctions has become funnier than ever.

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