Penny Auction Tips
How to Score Big on Quibids
Penny auction sites have enjoyed incredible fame and huge monetary growth in the past couple years and show no signs of slowing. Quibids has to be one of the most famous online penny auction sites, and according to Hitwise, it's one of the most active of any of the penny auction web sites. In contrast to other comparable web sites that are often seen as scams or else disappeared overnight, Quibids operates a straight-up amenable system that has provided hundreds of thousands in discounts to fanatic consumers from all over the USA.
If you've not been successful on Quibids it might be easy to jump to the conclusion that the you're being scammed. Despite any claims you may have read online from unhappy bidders, I'm here to tell you that nothing could be further from the truth. I've seen zero evidence of a Quibids scam, and I have personally won a good deal of auctions. The truth is you may just need to stop thinking "SCAM" and adjust your strategy.
If you've already spent your budget, try search around for Quibids promo codes and get a fresh start. Here are some I've found, which I can't guarantee will work, but give them a try: WINITNOW, READCAREFULLY, YOUWILLWIN, WINNOW, WINTODAY, WIN2011, DOUBLEDOWN. Also, last time I checked, you could get 3 free bids when you sign up for the Quibids newsletter.
Following are 2 key strategies you can follow when surfing Quibids that have proven successful for many.
If you've not been successful on Quibids it might be easy to jump to the conclusion that the you're being scammed. Despite any claims you may have read online from unhappy bidders, I'm here to tell you that nothing could be further from the truth. I've seen zero evidence of a Quibids scam, and I have personally won a good deal of auctions. The truth is you may just need to stop thinking "SCAM" and adjust your strategy.
If you've already spent your budget, try search around for Quibids promo codes and get a fresh start. Here are some I've found, which I can't guarantee will work, but give them a try: WINITNOW, READCAREFULLY, YOUWILLWIN, WINNOW, WINTODAY, WIN2011, DOUBLEDOWN. Also, last time I checked, you could get 3 free bids when you sign up for the Quibids newsletter.
Following are 2 key strategies you can follow when surfing Quibids that have proven successful for many.
1. Bid Aggressively From The Beginning
This plan calls for you to be as unwavering as you possibly can, and being especially early, think premature, in your bidding. Bid as soon as the timer resets so that you convince all the other bidders that you are in it for the long haul. It is simple as long as you resolve in advance the amount you are prepared to shell out for the item, and then bid knowing you wholly expect to purchase for that price. The result is that every one of your rivals will appreciate you as the boss and will subsequently decide among two paths:
- They might stop bidding altogether, leaving you as the champion.
- Or they could elect to continue and then seek to save up their bids, hoping that others fritter away their funds against you.
2. Bid Passively, Waiting For Just The Right Opportunity
Not prepared for that manner of forceful bidding? Okay so this next tactic is the total converse of the approach described above. As an alternative to coming off as somebody who desires to win the bidding at any price, just relax and observe the activity of other bidders.
You can develop an indication of the average price of practically any product through surveillance. Watch as many auctions as you can before jumping in. When you recognize how much that product you desire usually goes for, you know how to make a judgment about the absolute highest amount you're ready to pay.
After that just hold off on participating until the auction gets up to your uppermost value. Then jump in to the auction out of nowhere and bid assertively all the way up to the highest sum you decided on.
Certainly you will miss a number of auctions that wrap up below the middling cost, moreover you'll lose a few that stay alive outside of the typical cost. However through this stratagem you can virtually reduce doubt, and you won't throw away so many of your bids.
You can develop an indication of the average price of practically any product through surveillance. Watch as many auctions as you can before jumping in. When you recognize how much that product you desire usually goes for, you know how to make a judgment about the absolute highest amount you're ready to pay.
After that just hold off on participating until the auction gets up to your uppermost value. Then jump in to the auction out of nowhere and bid assertively all the way up to the highest sum you decided on.
Certainly you will miss a number of auctions that wrap up below the middling cost, moreover you'll lose a few that stay alive outside of the typical cost. However through this stratagem you can virtually reduce doubt, and you won't throw away so many of your bids.
Try a New Penny Auction
I've grown very fond of a new penny site that rivals Quibids: It's BidRivals.com. I've pretty much moved all my budget there (both money and time). Based on a couple huge wins early on, I wholeheartedly recommend the #2 strategy described above when you sign up with BidRivals.
I'd been meaning to pickup a Blu-ray Disc Player for months and was ready to go grab one off newegg.com. Quibids didn't have the one I wanted but BidRivals did. The precise model I was on the lookout for I could buy outright on BidRivals for practically the equivalent price as at Newegg. Clearly my choice was made... why pay full price if you can potentially get a huge discount at another site? The great feature about BidRivals is, if you don't end up winning your chosen auction, you can transfer the price of every single bid you paid for as a discount on the Buy Now cost.
After digging around their terms and conditions I do believe BidRivals offers something distinctive which few other penny auction sites ever dare: a Fairness Guarantee. Go ahead and read through it here.
They promise to publish completely clear prices, which include delivery, your bid costs, and the final auction value. Also there's the Buy Now guarantee, so you can transfer the money you spent on bids if you don't win as a discount on the Buy Now price. Thirdly, the auction items really are competitively priced, so if there's something you're intending to buy, you might as well try the auction because even if you don't win, you'll get about the same price at BidRivals as you would elsewhere online. Finally, if that's not enough to convince you to try BidRivals, check this out: they reimburse you for unused bids, and the refund everyone in cases of technical glitches to their site.
I went for the Blu-ray and wound up winning it for $22.08 with all the delivery charges and everything. They have a coupon running now for free bids with the code "freefive". Try it out. It might still work.
I'd been meaning to pickup a Blu-ray Disc Player for months and was ready to go grab one off newegg.com. Quibids didn't have the one I wanted but BidRivals did. The precise model I was on the lookout for I could buy outright on BidRivals for practically the equivalent price as at Newegg. Clearly my choice was made... why pay full price if you can potentially get a huge discount at another site? The great feature about BidRivals is, if you don't end up winning your chosen auction, you can transfer the price of every single bid you paid for as a discount on the Buy Now cost.
After digging around their terms and conditions I do believe BidRivals offers something distinctive which few other penny auction sites ever dare: a Fairness Guarantee. Go ahead and read through it here.
They promise to publish completely clear prices, which include delivery, your bid costs, and the final auction value. Also there's the Buy Now guarantee, so you can transfer the money you spent on bids if you don't win as a discount on the Buy Now price. Thirdly, the auction items really are competitively priced, so if there's something you're intending to buy, you might as well try the auction because even if you don't win, you'll get about the same price at BidRivals as you would elsewhere online. Finally, if that's not enough to convince you to try BidRivals, check this out: they reimburse you for unused bids, and the refund everyone in cases of technical glitches to their site.
I went for the Blu-ray and wound up winning it for $22.08 with all the delivery charges and everything. They have a coupon running now for free bids with the code "freefive". Try it out. It might still work.
BiggerBidder - Bigger Fun
Another new auction site, BiggerBidder, has some really unique features worth checking out:
- When you win, you get all of your bids you used in the auction returned back to you for use in future auctions!
- Members can create their own auctions and sell their stuff, just like on Ebay.
- Full featured comment and rating system to keep buyers and sellers honest.
- As the seller of an auction item, you receive 15 times the final auction price when your item sells! Part of this payment comes from the winning bidder, and part of it comes from BiggerBidder.
- Sellers can set a reserve price, which is the lowest amount he or she is willing to accept for the item.
- If an auction doesn't meet the reserve price, the winning bidder can still purchase at the reserve price, but doesn't have to. Regardless, winning bidders always get their bids back to use again in future auctions.
More Penny Auction Tips
Good Times Bad Times
Yes, you can time your bidding strategically to improve your chances of winning. Unfortunately, however, there are as many different theories about this as there are auction sites. Obviously you want to choose the least busiest days of the week and times of day. It makes sense that the best times are when most people are stuck doing other activities (commuting, working, etc) and unable to participate in penny auctions.
Many of the experts say the best days of the week to bid are Tuesday, Wednesday, and Thursday. The optimal times for bidding will vary, but a consensus appears to be in that late afternoons, around 2 pm to 5 pm are best.
I recommend, when you find a new penny auction site, get familiar with the rhythm and flow of auctions by watching them for a week or more and trying to discern any patterns as to what times appear to have the lowest priced winners. You might also try logging the winning times and prices of items you want into a spreadsheet.
The Data Doesn't Lie
The best strategy for finding the optimal days and times to bid, as well as lots of other analytical data to give you a competitive edge, is to invest in software programs, such as this one for BeeZid.
This program analyzes Beezid auction data to give you a clear, objective view of patterns that can help hone your strategy. For $37, the program gives you some serious insights and advantages. For example you get complete, real-time competitor data presented in easy-to-read graphs:
Only Bid On Stuff You're Willing To Buy At The Retail Price
Without a doubt this is the one tip that will keep you sane and happy as a penny bidder. Even if you lose, most penny bid auction sites allow you to apply the cost of your spent bids as cash toward the retail price when you purchase the item outright. If you combine this strategy with smart comparative research ahead of time, you can guarantee yourself a great deal regardless if you win or lose. So if you're going to buy something at retail price anyway, you might as well try and win it for far cheaper at a penny auction site.
You Better Shop Around
A lot of the penny auction sites nowadays have retail prices that are very competitive with straight e-commerce sites like Amazon.com or even Walmart.com. So take a look around at several sites and check the "Buy Now" prices. This is especially true with BiggerBidder, whose product inventory comes from closeouts and overstock surpluses.
When All Else Fails, CHEAT!
If you feel like you've tried everything and still can't get past ZERO wins, you might be tempted to bend the rules to get over the hump and start winning. Most people that try this end up getting their accounts banned. But the few that have managed to crack the system make out like bandits.
Let me say right now, I do not know whether Quibids or any other penny auction sites condone these methods. But if you're willing to risk it, you might want to have a look at Geoffrey Cameron's infamous guide, Penny Auction Cheats. Cameron lays out step-by-step how people are practically scamming the penny auction sites everyday, and still flying under the radar. Again, use that at your own risk!
Yes, you can time your bidding strategically to improve your chances of winning. Unfortunately, however, there are as many different theories about this as there are auction sites. Obviously you want to choose the least busiest days of the week and times of day. It makes sense that the best times are when most people are stuck doing other activities (commuting, working, etc) and unable to participate in penny auctions.
Many of the experts say the best days of the week to bid are Tuesday, Wednesday, and Thursday. The optimal times for bidding will vary, but a consensus appears to be in that late afternoons, around 2 pm to 5 pm are best.
I recommend, when you find a new penny auction site, get familiar with the rhythm and flow of auctions by watching them for a week or more and trying to discern any patterns as to what times appear to have the lowest priced winners. You might also try logging the winning times and prices of items you want into a spreadsheet.
The Data Doesn't Lie
The best strategy for finding the optimal days and times to bid, as well as lots of other analytical data to give you a competitive edge, is to invest in software programs, such as this one for BeeZid.
This program analyzes Beezid auction data to give you a clear, objective view of patterns that can help hone your strategy. For $37, the program gives you some serious insights and advantages. For example you get complete, real-time competitor data presented in easy-to-read graphs:
- all-time win/loss record for every bidder, updated instantly
- total amount spent on each auction
- total number of bids spent on each auction
- total time spent on each auction
- time since last bid, and a bunch of other stuff
Only Bid On Stuff You're Willing To Buy At The Retail Price
Without a doubt this is the one tip that will keep you sane and happy as a penny bidder. Even if you lose, most penny bid auction sites allow you to apply the cost of your spent bids as cash toward the retail price when you purchase the item outright. If you combine this strategy with smart comparative research ahead of time, you can guarantee yourself a great deal regardless if you win or lose. So if you're going to buy something at retail price anyway, you might as well try and win it for far cheaper at a penny auction site.
You Better Shop Around
A lot of the penny auction sites nowadays have retail prices that are very competitive with straight e-commerce sites like Amazon.com or even Walmart.com. So take a look around at several sites and check the "Buy Now" prices. This is especially true with BiggerBidder, whose product inventory comes from closeouts and overstock surpluses.
When All Else Fails, CHEAT!
If you feel like you've tried everything and still can't get past ZERO wins, you might be tempted to bend the rules to get over the hump and start winning. Most people that try this end up getting their accounts banned. But the few that have managed to crack the system make out like bandits.
Let me say right now, I do not know whether Quibids or any other penny auction sites condone these methods. But if you're willing to risk it, you might want to have a look at Geoffrey Cameron's infamous guide, Penny Auction Cheats. Cameron lays out step-by-step how people are practically scamming the penny auction sites everyday, and still flying under the radar. Again, use that at your own risk!
