The penny auctions can be very frustrating for new players, but fear not, once you have a winning strategy you will find the process much more interesting, and certainly more fun. Here we have produced a list of our favourite winning strategies. Read them and then go and have fun!
Do Not Make Too Many Bids As a Beginner
When first starting out at the pennies, many people will simply flood an auction with as many bids as possible. If you are new, you are unlikely to understand the process properly, and using too many bids is a sure way of wasting money.
*remember to take advantage of the free credits available for new players.
Take Your Time
Some people can get emotional when placing bids and keep bidding on items that they are sure to lose, or do not bid enough. Instead, you need to set yourself parameters. When you reach a given level, stop playing. For example, agree to place 20 bids only on an item, and stick to it, give or take 10%. Play slowly and use your bids wisely. Watch how the other bidders are using their bids and try to play intelligently in order to beat them – if you see that someone is tilting, wait until they burn out, and pip them at the last second.
Be a Turtle Not a Hare
Before you choose to place a bid on an auction, just wait and watch. Take notes of who is bidding, and if you know a little about the strategy they use, try to find a way to beat them – for instance, if you know they use large auto bids, leave the auction and return in five or ten minutes, when the bids are gone, enter a bid then and see if they bid again. If they do, leave for another set amount of time and return. Repeat this step until they run out of bids.
Go For the Easy Auctions
Everybody wants the iPad 2, so you can expect a lot of competition here. Instead, as a beginner, opt for the smaller items as these are more winnable.
If you would like to start you bidding now, then visit http://www.bidvid.com/.
