How do penny auctions work ?
Unlike traditional auctions, with penny auctions the price of the item will increase by $0.02 every time a bid is placed. In order to participate in a penny auction you must buy bids, don’t worry they go cheap. Bids are sold in packs, a 100 bid pack giving you the opportunity to win 100 times. When there are 15 seconds left, every time a bid is placed the timer will reset allowing other user(s) to place a bid; last wins the item. This is perfect if you are looking for an exciting online shopping experience and amazing deals on brand new, branded products such as iPhones, iPads, laptops, digital cameras, game consoles and much more. For a detailed explanation on how penny auctions work see the wikipedia.
How to win penny auctions
Hello ! My Name is Fred and over the last 3 years I did all my shopping on different penny auction sites and now I am actually earning a nice part time income every month by selling the items I win for quick profit. It wasn’t always like this, I had some loses, it’s true, but now I know the process inside out. If you follow my penny auction strategy you will win 99.99% . Start off with this site, Beezid, I’ve been using this one for a while, it’s very easy to win here.
Click here to get free bids.
1. Internet Connection
Head over to bandwidthplace.com and do a quick test to see how fast is your internet connection. If your download speed is lower than 256KBps it’s not good, anything over 512KBps and you are ready to GO ! Going Once, Going Twice..SOLD !
2. Register and Pick a Username
Choosing a username is not as easy as it sounds. My user name is CLOSED ..you will not believe how many people back off from the auctions I bid on just because they think the auction is closed. This is what I like to call a sneaky username, however there are 2 types, each chained with a specific winning strategy:
- Intimidating: Username is a reflection of your personality and your play style, it will make people think twice before bidding against you. Pick a confident dominant powerful one like “WithoutLimits”, “YOU_WILL_LOSE”, “WontStop”, “Igot5000Bids” etc. Who is in control here ? “YouAlreadyLost” or “pennyboy12″ ?
- Sneaky: This is the smart approach. “BID CLOSED”, “ITEM GONE”, “PRIVATE AUCTION”, “ENDED”, “AUCTION DOWN” etc. If they realize your dirty trick you won them anyway, Oh wait a minute I am not bid gambling with the average Joe here, this bidder is clever.
3. The Perfect Penny Auction
After you got your bids don’t run to the first item you see and start bidding like a no-brainer, that is plain stupid. You must analyze the board for at least 20-30 minutes ! The key point here is that you must spot the noobs because they are very easy to beat; an experienced penny auction player may have 5000 bids available and you don’t want want to throw your money away on more bids, do you ? Newbies are very easy to spot, they bid on multiple auctions ( aka 10-20 bids on an item and then jump to another) or you see their names on penny auctions that are not yet live.
- Rule number one: You need to focus only on one auction and make sure there are only 2-3 players in the game.
- Rule number two: Pick a penny auction on row 2,3 or 4. Don’t go row 1 , Not Now Not Ever ! All the auctions from row 1 to 4 are live and have a reset time but on the first row 3 times more people fight to win. The reason behind this is simple, involuntary subconscious decision, just because the auction is first on the page doesn’t mean it will end and you will never have a chance to bid, this is not eBay;
- Rule number three: If an auction has reached $30 do not bid; Usually people fighting here are power bidders who sometimes spend more on bids than the actual cost of the item just to gain a reputation.
- Rule number four: You DO NOT talk about FIGHT CLUB
4. Time of the Day
IT DOES NOT MATTER ! I did a lot of research on this. According to Internet Traffic Report between 4:30 AM – 6:00 AM EST (Eastern Standard Time) traffic drops big time in USA but only 26% of Bid Here’s traffic comes from North America according to Alexa’s demographics. So don’t do crazy things like wake up at 3:00 AM in the morning to win stuff, I did that a lot of times, it’s not working and it’s not funny.
The fastest way to get your hands on something is by applying this technique but you need the 100 bid package. If you buy a lower package you will risk losing your money. The trick here is to bid irrationally when you actually bid very rationally. All the penny auction bidders wait until last second to place their bids. Can you please tell me what is the difference between waiting 15 sec to place your bid and bid the second you get out-bided ? it will reset the time anyway and show you as last bidder ! it’s not like if you bid in the last second you will win..so again an involuntary subconscious decision made. OK ..so let’s say B1 and B2 fight over an item. B1 has 8 bids left and B2 has 3 bids left. B1 doesn’t wait till last second while B2 does wait. Who will win ? Imagine how easy you can manipulate the persons who bid against you as long as they think placing a bid in the last second will result in less chances of another bid being placed by someone else, fourth grade psychology will work, trust me.
If you apply this technique, which I highly recommend if you don’t have time on your hands or you are in just for a few wins, not to make profit, you are at war with the bidders not with the penny auction system. So pick up an intimidating name, choose the item you want and start bidding like crazy. The second you get outbided BOOM , you strike ! not one second later, This is my item ! You can’t mess with me !. Don’t expect them to run right away but they will back off eventually. From my experience, it will cost you around 20-50 bids to scare them and make them think you are a hard core player, after that it’s your game. Congratulations !
IMPORTANT UPDATE: This strategy no longer works. It used to work back in the days there were only 3 bid packages available for purchasing and no free bids or coupons. The intimidating strategy still works great!
This strategy is very time consuming and here you are exploiting the system. The idea behind this is simple, you must count the bids and determine which bid package each of the penny auction participants have. You need to wait for the current players to run out of bids and start the counting on the new players. At one point you will know how many bids each the new players have left. etc etc etc.
Register on Beezid, Follow this guide and WIN ! Free Bids >>> click here.
If you want to check out other penny auction websites make sure to visit Penny Auction Police for reviews, here is the URL: http://www.pennyauctionpolice.com/reviews