Most penny auction newbies make the exact same mistakes. Here is a guide to teach you valuable tips that the pros use to win brand new products from penny auction sites like Swoopo, Bid Rodeo, and GalaxyBids.com.
1. Do your research. FIRST AND FOREMOST – Make silent auction gift ideas sure the site is legit. Check to see if it has site security regulations in place (ie. it has a valid SSL certificate that matches the web site’s address). Site’s with a valid SSL certificate are committed to keeping your personal information secure, and have been verified by the certificate’s issuer as to whether it is a legit business. Do your research to determine if your information is being kept private and secure, and that “winners” actually exist.
The best thing to do, when starting out, is to choose one or two sites to follow. You should check in on them regularly. You can click on the auction item and get a whole page with the bidding history, and other valuable information. Many people stay on the main page, and miss out on this important info. The purpose in doing this is to become an expert on that site. In doing this, you can get a feel for who the users are, what their bidding style is like, and so forth. You also get a good idea of what types of auctions are usually up for sale, and how much they tend to sell for. This information will prove valuable for you when you are ready to get in the action!
2. Get your free bids. Most of these sites offer many chances to receive free bids. Usually just signing up will net you free bids, along with referring friends, signing up for newsletters, following them on Facebook. Twitter, etc. Stock up on these bids, because they are out there for the taking!
3. Purchase bids within your own limits. You have to decide for yourself what it is worth to you to be the auction winner. Depending on what your bidding strategy is, you decide how much you are willing to spend. If you are after one of the bigger name items, and there are many people bidding on it, you will most likely need to invest some cash to insure your chances. Keep in mind that others want it badly too, and they are willing to pay. If you want the smaller items, with less competition, that is an entire strategy in itself, and will end up costing you less $$ in the long run.
4. Choose a good day of the week and time of day. Bid when others are at work, sleeping, watching a top rated tv event, etc., on a day of the week where people are likely doing something else rather than sitting at their computer.
5. Pick your strategy. Now that you are armed and ready, here are some strategies that the pros use. Now keep in mind, you may have to adapt your strategy according to the users who you are bidding against. Once you’ve done your research, and can get an idea of what strategy your competition is using, USE IT AGAINST THEM!
**Remember: Big ticket items (ie. TVs, computers, iPods, etc.) will have more people bidding on them. Smaller ticket items (gift cards, perfume, etc.) will have less people bidding on them. Always keep in mind how many people you are bidding against.**