Tips & Strategies For Winning Pricebenders™ Auctions
There seems to be no limit to the number of tips and strategies out
there on the Internet about how to win penny auctions and spend the
least number of bids to do it. Trouble is, there seems to be little
consensus on many matters. Some “experts” recommend using auto-bid
tools, others warn against them. Some stress intricate strategy and
mathematical accuracy of bid timing and amounts. Others claim that
winning is most simply a matter of bidding at the right time.
However, what most DO agree on is that preparing yourself and
practicing a few, clear penny auction "do's" and "don'ts" could save you a
lot of money AND increase your chances of winning. For preparation,
read (and re-read if necessary) the “How It Works” page. Then, before
placing a bid for a Pricebenders™ auction item, be sure to familiarize
yourself with these essential "do's" and "don'ts":
Pricebenders™ Do's
DO...determine a bid budget and stick to it.
DO...watch the auction timer. If the counter almost reaches zero again
and again before starting over, it means that there are probably not
very many members bidding on that item...and that means your chances of
winning are higher.
DO...consider some of the less-expensive items. Generally, fewer people
bid on cheaper items and, again, fewer bidders mean your chances of
winning are higher.
DO...time your bids wisely. This is a vital factor to winning. Bidding
right after the start of an auction, for example, is usually a wasted
bid.
DO...observe the auctions and list of recently won auction items to
determine the best time of day that consistently have the fewest
bidders (generally, the lower the winning price, the less bidders there
were).
DO...enter the "Pick-the-Price" contest (located adjacent to all
Pricebenders feature auctions). There's no cost to enter and it's
simple, easy, and fun! Just log in at TripleClicks at the start of each
new feature auction and submit the amount you think will be the
winning price of the item. Yes, you can enter each time we start a new
auction...so multiple times every day you have another chance to win!
If you pick the final price exactly right, you immediately win 200
free TCredits, a $58 value! If no one picks the exact, final price, 20
free TCredits is awarded to the person(s) whose prediction was the
closest without going over.
DO...purchase your TCredits for bids in bulk if you can. In this way,
you'll minimize your cost per TCredit (as low as $0.29 each) and ensure
you'll have as many as you need to complete an auction. Running out of
TCredits at the last moment can be costly...and heartbreaking!
DO...if you're on the TripleClicks homepage, check out the auction
item's description page by clicking the item name. In this way, you'll
be sure to know EXACTLY what you are bidding on and avoid unpleasant
surprises later. You'll also be able to see the bid log listing all
bidders for this item. Tip: Click on a bidder's name to see their TripleClicks "TConnect" Webpage to learn more about him or her.
DO...use Pricebender's Auto-Bidder with care! This useful tool can
ensure your bids are entered automatically, so you won't have to stand
by monitoring an auction...but it should be used carefully and with your
budget in mind. Tip: Let's say you think an item's final price is
going to be $5.75. A smart auto-bid might be to set up, say, 10
TCredits for between $5.50 and $6.00. Of course, keep in mind that if
the price never reaches $5.50, none of your bids will be placed.
Conversely, if the price goes beyond $6.00, someone else may win the
auction after your ten TCredits have been automatically bid.
DO...read Pricebenders Rules & Policies and be sure you understand
the rules and limits for participating in the penny auctions.
Pricebenders™ Don'ts
DON'T...spend more on an auction than you are willing to lose.
DON'T...wait too long to bid. Connectivity issues, computer crashes,
latency (network delays), and other factors may interfere with your
bid. If you wait till the last few seconds to bid, you're running the
risk that your bid won't go through in time. And make sure you
understand that when you bid, it just resets the auction clock, so being
the last one to bid before the clock hits zero gains you little if
anything...and may just keep you from winning if your bid is delayed by
one of the afore-mentioned technical issues. If your strategy is to
wait until the "last possible moment," we recommend bidding with NO LESS
THAN 5 seconds remaining.
DON'T...get overly excited when bidding. You'll be more likely to break
your budget and/or use your TCredits up faster than you need to.
DON'T...get in a bidding war with other bidders. If you can, sit back
and let others battle and use their TCredits trying to out-bid each
other.
DON'T...pick an item on which to bid just because it looks like only a
few members are bidding on it. A lot of members wait until the last few
moments to bid. So while it may look like only a few bidders are
interested, dozens more are probably watching and waiting—particularly
if it's a popular item.
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