Thursday, August 25, 2011

Collecting Bids at Penny Auctions

Getting cheap bids at penny auctions is tricky because too many free bids leads a site downhill and makes it much more competitive for the bidders. However, there are plenty of ways in which you can collect bids at penny auctions.

When you are looking to gather bids, you should know that some sites like Quibids distinguish between "real" and "virtual" bids, in which case your strategy should be very different. However, most of the new penny auctions don't work the same way. In these, it is easy to win products and pile up bids.

Before you start bidding on bid packs like crazy, you need to look at the history. I had previously written about how it is easy to win bids at some penny auctions and not others. You need to take a look at the history. For example, one of the penny auctions that I really like, HappyBidDay seems to have a lot of goodies in terms of winning bids - most of the bid auctions end at really low prices. The two latest bid pack auctions I could find ended after 34 bids and 133 bids for 100 bid pack and 150 bid pack, each time ending at less than the total value of the bids (note that auctions here start at $1.00 and not $0.00).

As you can see from the above auctions, the bid packs at this site are really good for the bidders. A good strategy in this case would be to just purchase one bid pack and use it to win more bid packs when the opportunity arises. It is good for beginners because you get 20% off your first bid pack purchase if you use the coupon code HAPPY.

There are other penny auctions in which bid packs can get really competitive. Quibids is one of the sites that has competitive bid packs, which is one of the reasons I don't advise the Quibids bid pack auctions. However, in new penny auctions, the strategies can be quite different and you can pile up a lot of bids. Winning many bid packs is also very good for winning high-end electronics like Laptops or other electronics which are comparatively less competitive at new penny auctions.

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