Thursday, November 25, 2010

How to Win on Quibids: Part - 1

Learn how to win on Quibids before you spend money on the site. This is an extension post to my existing post on Quibids strategy-1: Volunteer's Dilemma. The purpose of this post is to make things simple and explain once more, in detail, how this works.

When deciding strategies or how to win on Quibids or any other penny auction site, it is important to consider 2 factors:
1. Economics
2. Psychology

People tend to ignore the last one, but it turns out that the psychology of the bidders plays a more important role than the economics of the situation. This is why, there is no universal Quibids strategy that will always win. However, you can maximize your chances depending on the auction at hand. Any person with some experience on Quibids or a similar penny auction site will tell you the same.

The Quibids strategy based on the Volunteer's Dilemma works because you are being aggressive. Highly aggressive. This tends to scare bidders, especially the careful ones. This is important to remember because most of the bidders at Quibids are simply looking to get lucky - place a bid and pray no one outbids them. This is ridiculous - Quibids is famous and has many people at any given time. You can easily beat most of the Quibids bidders this way by being aggressive.

When 2 people are being aggressive simultaneously, only one can win. The person who can remain tenacious longer will be the winner, as simple as that. This is how to win on Quibids - you have to hold your own against aggressive bidders. If you are looking not to waste bids, then you will end up winning almost nothing while spending a few bids on all auctions, thus losing a lot in total.

When you start out on an auction, you should make sure that you never quit. If you do, you will end up losing much more than what you bargained for. However, if your total bids exceed the price of the item, you can as well stop and use the "But it Now" option of Quibids. This is great so that your losses are limited but your profits are not.

I have a whole series on how to win on Quibids and Quibids strategies, so make sure you understand the rules of the game before going out there and winning. Good luck to all my readers!

7 comments:

  1. I just want to say this article is very simple yet very effective. Thanks for putting out your time and effort to post all the wonderful tips you have here! Your efforts are put to good uses. :-)

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  2. That's highly appreciated! I would really like to hear your own success stories. Do come back to share with all of us :)

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  3. very good information!!! - I am just wondering about the time how do you know when the time is going to actually end?? they say to watch if it's at 10 but i seen it end at 15??

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  4. The time is a count-down. It ends when it reaches 0. Don't push it too far though - there can be slight delays.

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  5. A gigantic moonlike of recommendation, keep moving on. dealdash

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