Perhaps consistency is one of the most important things we need to win more auctions on DealDash.com.
If we consistently place bids in an auction, we will most likely eventually win it. To get a good idea how many bids it might take to win an auction, however, we should check to see how many bids previous winners placed in the same auction. Then, after we purchase our bids, we could try one of the following:
- Place all of our bids into BidBuddy, the automated bidder. Then consistently add more bids and never stop until we win. Unfortunately, some customers end up over-bidding the value of the auction and never stop even when it makes more sense to BIN.
- Place only some bids at the beginning into BidBuddy. Then only place more bids whenever the auction gets down to two or three players. This option could work well if we have the time to closely monitor the auction.
- Place some bids at the beginning, and continue to place another 10 bids for every dollar amount the auction price goes up. Rationing our bids to make them last longer could work, but we run the risk not having any bids there when the auction closes.
- Place some bids at the beginning of the auction and then wait until the auction reaches the average closing price before we add the rest of our bids. Adding several bids at the point where the auction usually closes could work.
- Place some bids at the beginning of the auction every time that particular auction is listed. If we look at the selling prices, we will see that most auctions will eventually sell low. If we consistently place bids at the beginning each and every time this item goes up for auction, we have a good chance of being there when it sells low. In other words, we might have a much better chance of winning an auction by placing 50 bids in the auction 12 times (every time it goes up for auction) than we would by placing all 600 bids or more in one auction.
If one method does not work, it might be time to try another. We all need to figure out for ourselves which system works best based on our own personal budget.
Blog posts are written by real DealDash customers. The opinions and advice here represent our customers’ views and not those of the company. This sponsored blog post was submitted by: Barbara L. Sellers. Barbara was compensated by DealDash for this blog post.