Since sites like DealFun and DealDash.com have come on the scene and promise great deals on all kinds of merchandise such as iPads, computers, stereo equipment, home theater equipment and more, everyone wants to know how to win penny auctions so they can get great deals too. So, what is the best way to get a good deal at one of these sites?
Well, we have to remember that these penny auction sites all charge something to bid on each auction. When you join a site you have to have several bids stored up when you spot an item you want to buy, or rather, bid on. Each bid costs from 30 cents to around a dollar and when a bid is placed on an item for sale, that raises the price of the item by one penny. When you join there are options to buy bid packs of different denominations. The best way to spend those bid credits wisely is to know what you want to buy and how much you are willing to bid, or how many bids you are willing to place.
There is a little secret to this whole penny auction game and it will greatly increase your chances of winning more auctions and spending less money on bids to get what you want. On most the best penny auction sites, there is a section just like on eBay that will show you previously closed auction. And guess what you can see in the closed auction section? That would be the price previous items closed at.
Why is that important? It’s important because it lets you know what people are willing to spend on items or the price level an item gets to before people stop bidding. Armed with that info, you can then start bidding on your favorite iPad, computer laptop or whatever when the price starts approaching that of previously close items. Why anyone would start bidding on items at the beginning of an auction is beyond me. You obviously aren’t going to get a $600 iPad for 10 cents, that isn’t going to happen, so just be patient and wait it out. And don’t worry if an items closes and you haven’t bid on it yet, there will be more items for exactly what you wanted.
The second secret to how to win penny auctions is to bid at times of the day when there will be less people bidding and thus, less competition. Thursday nights, Saturday mornings and early Tuesday mornings around 2:00 am (obviously you have to be awake at that time) are all great times to bid because people are either sleeping as in the case of early Tuesday mornings or they are just doing something else besides getting online. Yes, there is a world outside shopping online, reading the DrudgeReport and checking your Facebook page. Some people aren’t online all the time.
Just remember, you can win at the penny auction game, you just have to know what to do and not act ridiculously impulsive when you see that cool laptop you’ve been wanting. I hope this gives you some good info on how to win penny auctions so you can walk away with some incredible deals.
If you want to get the most from the best penny auction sites, then it is essential to understand the rules of penny auctions on each site you visit. Each site you join in on the auctions at is different, has its own rules, charges different amounts for bids and lets you do different things with your already spent bids if you don’t win the item you were bidding on.
These penny auction sites come and go fairly often. In fact, there are some 112 of these sites that I could find by just doing a quick search on Google and looking at various lists that other people have made. But just because there are many sites where you can get great bargains on computers, iPads, iPods, iPhones, televisions and all kids of other electronics and gift cards and such, doesn’t mean that you want to try and keep up with lots of sites and the things that are being auctioned on them.
The best way to be able to follow the rules on these sites and not get them confused with the rules on another site is to only join a few of the top sites that have been around the longest and have the best reputations. DealFun.com is one of the better known sites that charges $0.6o per bid and has lots of auctions going on at any given time.
The rules at DealFun.com are fairly simple, as they should be for any penny bid site. First of all you have to join Deal Fun to be able to bid, you then have to buy bids which you can do by purchasing them from the site in bid packs of from 50 bids to 250 bids. You can also bid on bid pack auctions, but you must first purchase bids because you can bid on any auction without having any bids in your possession.
Other penny auction rules at DealFun.com are that bid will go up by 1 cent at a time. Auctions are all supposed to go up 1 cents at a time, but at Deal Fun this doesn’t always happen because they allow bidders from more than 6 countries to bid on items and not every currency in the world translates easily into 1 cent increments. You can also use Bid Buddy on most auctions and they are similar to the way eBay lets you put in your top bid, but doesn’t go to that amount until the next highest bidder is just a few cents away from your bid. Bid Buddy allow you to set a maximum amount of bids you will place on an item.
One of the most important rules to remember at Deal Fun is that if you do lose an item you had placed bids on, you can buy the item at retail price minus the cost of your bids. So let’s say you want an iPad and the retail price is $499 and let’s say you’ve placed 25 bids at a cost of $0.60 each, that would be $15. If you want, you can then purchase that iPad for $482.75. So the message here is to not bid on stuff you don’t want. Only bid on stuff that you are already shopping for, then if you don’t win that item, you can still buy it and you haven’t lost any money.
There are many different rules at all these sites, more than I can list here, so make sure you read all of them before placing bids so you know how things work.
Follow these simple rules of penny auctions and get some incredible deals.
If you have yet to experience the absolute thrill of winning an auction where you get a $699 Apple iPad for around $35.50 or your favorite laptop computer for way, way below retail price, penny auctions may be exactly the thing you need to get an incredible deal. There isn’t anywhere else on the internet where you will come close to finding deals such as these. You won’t even find them on the big auction site known as eBay. However, many people want to know exactly how does a penny auction work and how can I get a great deal?
The way these sites work is that you buy bid packs from the auction site you are interested in or one where you have found a deal you want to bid on and then you place your bids on that item you want. From that aspect, it is kind of like eBay. Then, every time a bid is placed on an the auction you are interested in, or any auction for that matter, the price of the item increases by just 1 penny. Thus the name penny auctions.
When the last 30 seconds, or some time around that mark, every time a new bid is placed, 10 seconds is added to the clock so other people can continue to place bids. Some times auctions can take quite a few hours to end once they pass the 30 second mark because there may be several bidders you are competing with. They may really want the item and a bidding war then can start with each member not wanting the other bidder to win, “their auction”. If you have ever bid on anything at eBay, you know how this goes down.
Your bids can cost from a few cents to over a dollar each depending on which site you join. Most penny auction sites charge around 60 each or slightly more for each bid. With most sites the items you bid on is given one days time on the countdown clock when the auction starts and those interested in the item watch the real time count down clock to see when the auction will close and hop they will be the big winner.
While you can get some great deals at these penny auctions, you have to be careful that you don’t spend too much on bidding on items and not winning them. Fortunately, if you really want the item, you can still buy it for retail price, minus the cost of the bids you have already placed. Some sites refund all of your bids if you lose an item, but you then must use all those bids in the next 5 days or so or face losing them.
That’s just a quick and real basic rundown of how the best penny auction site works. Keep checking back often because we will let you know more about how these sites work and some really cool tricks that will let you take advantage of these deals and get spend less money on bids than most people do.
Stay tune, we’ll be right back with more information.