It is extremely easy to add bids or cancel bids at any point during the auctions on the DealDash.com shopping site, but sometimes it’s difficult to know which one to do.
Should we add more bids and go for the win or should we cancel our bids and save them to use on another auction later on?
Since I started shopping on DealDash Feb. 8, 2012, I faced this dilemma many times. Sometimes an auction closed right after I canceled my bids and sometimes I added more bids when the auction did not close for a long time.
Now, after winning 739 auctions, I’m getting better at knowing when to add bids and when to cancel them. No matter how much experience we have, however, I doubt anyone gets it right all the time. Now when an auction gets down to the last three players, I’ve learned that it helps to ask the following questions:
- Are the players left in the game all serious bidders or are some of them simply random bidders? Sometimes I canceled my bids too early when I thought a third player jumped into the game. After placing only one or two bids, however, the third player dropped out. I learned that before canceling my bids, it is important to make sure the last three players in the game have any staying power.
- At what point in the auction did the last three players start placing bids? If they started bidding at the very beginning of the auction, they are more likely to run out of bids. If they placed their first bid just before the $5.00 lockout, they are less likely to run out of bids.
- What was the average closing price of this auction, and has the auction price reached or passed that amount yet?
- Is this a “Free to the winner” auction? Remember, free auctions tend to run longer because shoppers do not have to worry about paying the final closing cost.
Sponsored blog post submitted by: Barbara L. Sellers
Barbara was compensated by DealDash for this blog post.