More often than not amateur bidders lack the skill, experience, and knowledge necessary to win expensive auction items. In fact, entering any penny auction could be scary and overwhelming to the novice bidders. However, mid-level bidders have most likely developed their own strategies inside a certain comfort level, while seasoned bidders are more aggressive and hostile using their bidding approaches. To determine what approach you should take while bidding in penny auctions, you have to determine what you are willing to lose in terms of time and expense.
You need to know what things you want. Are you searching for general items for example brand name electronics, gaming consoles, or gift cards? If so, general penny auctions such as Bid Twister and Swoopo have great deals on these items. For designer handbags and shoes, take a look at OohILove and Penny Purses.
What's your estimated budget? Are you able to afford to invest a dollar every time you bid? If not, search for penny auctions which have low bid fees or consider purchasing bid packages for discounted prices. Some penny auctions give bonus bids if you buy bid packages in larger denominations.
What reward programs are available? If you spend some money, will the site provide you with complimentary bids? Each time you refer a buddy or family member, will the website give you something in return? Prior to signing up, check out all of the sites that provide different reward programs and component that into your approach.
Novice bidders should take part in auctions that offer the "Buy-it-Now" feature since it can get your name in outdoors as well as your fellow bidders will become familiar and begin to trust you.
To become acclimated towards the penny auction process, watch a few auctions. You will want to know who the seasoned bidders are, so you do not enter those auctions til you have developed your own strong group of bidding strategies.
Understand what you would like from penny auctions. Bid with respect for your follow bidders. Don't make rash decisions about placing bids repeatedly.
