Penny Auctions Bidding to Win

by admin on February 8, 2011

Okay, let’s review another dichotomy that has been discussed previously here on the site and that is an important aspect that you can’t ignore if you’re going to master the fundamentals of penny auctions.

• Strategy school of thought: Bidding to Bid versus Bidding to Win.

First, let’s talk bidding just to bid. Compare it to your early dating years if you’re married, and maybe compare it to how you date now if you’re not married. Do you throw out lots of requests for girls’ numbers, or do you very selectively pick the girl you want to ask out and only focus on her with the intention of getting her to become your girlfriend? Do you just throw bids haphazardly around the auctions in hopes that you’ll be the champion to emerge victorious? Because it is likely you’ll win an auction here or there with this strategy; however, if you watch your spending more closely, you may find that you’re risking spending retail for the items (which I guess isn’t so bad as a punishment), but you’re not going to consistently get the items for incredible discounts when you use this strategy compared to the one that I’ll discuss next. (Oh and remember this also… Are you really just tossing your money in the fire or flushing it down the drain even in this case that you spend retail instead of deep discounts? Because remember, this is entertainment shopping.

• The next strategy to remember is bidding with the intention to win!

What’s your style? Do you bid with the intention to win? So philosophically, do you mentally consider the bids you place as “pennies” placed towards the total cost of the product you’re bidding on? Because sometimes the costs the bidders dearly if they don’t think about this. Now, depending on the number of bidders that are on the field, you’ll find that when all the others stop bidding against you and you win, you’ll get this exuberant feeling of winning. It’s a rush, and many become addicted to it without realizing that they may be spending more than they ought to for the item. So if you plan and actually track your costs as you go, you’ll be more likely to get the products for dirt cheap even though you won’t be able to predict each time whether you’ll win an item, but you don’t have to always have to win the item if you choose to stop early.

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