With some practice and patience , online consumers can find the best penny auction strategy. So how do you find the winning strategy to win penny auctions? Your strategy will be composed from the next steps.
Step 1-free bidding
Take advantage of free bidding. Some sites will offer you pre-registration free bids. Try to contact the site before registering and work out a better deal for your bid package. Competition between penny sites auctions is fierce, which gives you great negotiating power.
Step 2- The sniper Bid
close to the end and snatch the auction from the sleepy buyers. Like a sniper, wait for the right moment at the end to place your bid. Also, Early morning and late evening is the best times to bid as there is a minimum of traffic.
Step 3- Watch the competition
Place a bid at the beginning of the auction so you can determine the level of interest. Watch the times bids are being placed and watch the bidders. Make notes and determine the best times for you to operate and the best items for you to bid on.
Step 4 – Set your limits
Don’t get into emotional bidding war. If someone outbids don’t take it personally, it might sound funny but we all do it sometime. You don’t need to win every auction. If you reached you preset max bid and someone outbids, let him have it, you’ll get the next one! This is a very important part of your Penny Auctions Strartegy.
Now take it to practice, and start implementing this tactics to create a winning strategy to win penny auctions.