How to Avoid Bidding Wars on Penny Auction Sites

by admin on February 10, 2011

If you want to get a great deal on a product online, you may look at penny auction sites as your resource. The items sold there are placed up for auction just like they would be on other sites, but the auctions cannot go up more than a penny at a time. The catch here is that you have to pay for every bid you place, so you have to be careful about your strategy. Here are a few tips that may help you avoid an unnecessary bid war.

On a site where bids are free, bid wars do not mean much. With new penny auctions though, every bid you place will cost you money in the end. Thus you want to limit the amount of bids you put on an item to stay within your budget.
Start by knowing what that budget is. Figure out what the retail price is for an item, as well as what you will have to pay in shipping and payment fees to get it to you. Factor all of that information in to determine how much you can logically spend on bids for the auction. Stick to that budget.

Do not place a bid on an item until it is about to go out of auction. You can also make automated bids for auctions online if you are not going to be able to bid in person. Choose whatever route works best for you, and then make sure you do not go over budget. Stay true to the plan and you should be just fine.

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