The one mistake which every new bidder makes

patienceLet’s kick off today’s discussion by talking about the mistake which every single new penny auction bidder makes- going for the gold. Basically, every bidder (including the authors of this guide) is duped into bidding on high-end products when they first start bidding in penny auctions.

You see, the penny auctions are notorious for ‘selling the dream’. When was the last time you saw a penny auction that looked like any of these?

  • Win an iPad 32GB for $1.48!
  • Save up to 90% on flat screen TVs!
  • Stop paying retail today!

While all of these statements are true, they also drive new bidders to bidding on the most competitive auctions, often leading to frustration and a poor overall experience.

So, our challenge to you is to steer clear of high-end products, at least until you’ve got 5-6 wins under your belt. Start off with the small gift cards, electronics, home goods, etc. in the beginning. Your chances of getting a good value are much greater and the earned experiences will make you much more likely to win the higher-end products. Patience grasshopper, patience…

There are a couple of good sites to get started on, most of which offer ‘beginner’ auctions which are limited to newbies.

  • HappyBidDay – look for the Starter Auctions which are limited to users who only have a few auction wins (no power bidders). HINT: It is very hard not to win HappyBidDay Starter Auctions, seriously. You ‘re eligible for these auctions for your first few wins. Try HappyBidDay.
  • Beezid – Look for Cherry Auctions which are reserved for bidders with no wins. Try Beezid.
  • Quibids – Look for Beginner Auctions. HINT: Quibids makes it very easy to win beginner auctions. Unfortunately, you’re not eligible after you win your first. Try Quibids.

The first installment our our penny auction guide offers you only this one, simple piece of advice. Most of you won’t take it, though. Those who do will have a much better chance of success in the penny auction world.

2017-05-18T18:43:29+00:00 June 25th, 2013|Penny Auction Strategy|

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