Then crying “scam” anyway…
Ok, so these may seem pretty simple to some of you who have been bidding and winning penny auctions for quite some time, however many of you may be making the biggest mistake when diving in and trying penny auctions for the first time
The number one problem bidders have when it comes to penny auctions is not understanding how penny auctions work.
Penny auctions are online auction/alternative e-commerce websites that allow consumers a chance to win popular consumer electronics, household gadgets and gear, gift cards and other desirable items at a discount. But in order to get a discount bidders must take heed and learn how penny auctions work and mistakes that cause many bidders to lose a lot of money.
Unlike the traditional auction such as eBay, where bidders register and receive a bidding name, place a bid and if they’re the highest bid when the time runs out wins, wins. In penny auctions, bidders purchase bid packages ahead of an auction (or if skillful – refill in the midst of bidding). Bid packs, depending on the site, can range from a few set packages to sites that allow bidders to customize their bidding experience by specifying a set number of bids.
On DealDash bids range in packages and are currently $0.20 a piece. Bids on DealDash are currently, as of today, January 25th, 2014 sold in the following bid pack amounts 180 for $32.40, 400 for $72, 800 for $144, 1500 for $270, 2500 for $450To purchase bids bidders select the amount of bids desired and can use either PayPal or a credit card, depending on the penny auction site. Again, no bidding is not free on penny auctions, this is where the penny auction greatly differs from the standard online auction model. So once you have purchased your bid pack you need to know how to bid and how the timer works.
Unlike eBay, where the timer counts down, and the bidder who has bid the highest when the time runs out, penny auctions have timers that count down, BUT – and this is what you must understand If you want to dive into penny auctions: The auction clock may show 10 seconds left, but time will be added, or reset (depending on the site) with each new bid placed. So really, when is 10 seconds left not really 10 seconds left? Any time a bidder places a bid in an actively counting down auction. Not only does the timer increase, or reset with each new bid, the “auction price” increases by $0.01 (hence the name penny auction) with each bid placed.
I’m sure by now, if you’re reading this you’ll have seen the penny auction ads and ending auctions stating end prices for items from anywhere to $0.01 to $100 and beyond. This is what you MUST understand – a penny auction that ended for $45.99, really took in 4,599 bids from all participating bidders.
So let’s back up… A penny auction is an online auction site with a twist. Bidders pay for a chance to win, with each bid placed money is being spent and there is only one winner per auction, so money spent in bids could be “wasted” when you’re not a winner,
So in actuality, when a site advertises items that end of $45.99, the bidder may have “won” the item for the end price of $45.99, but this is in addition to any purchased bids. Say biddertommy won the item, let’s say it was a brand new MacBook pro – awesome deal right?, a MacBook pro retails for $X, well, biddertommy was bidding against just a few other bidders, and he really wanted to win, so he bid a lot… in fact, he placed 998 bids and had to open up another browser window to keep reloading his bid count by purchasing new bidpacks throughout the duration of the auction.
Bids on the penny auction site he was bidding on, were $0.75 a piece (not an uncommon bid price) so biddertommy spent $748.50, plus the auction cost (remember: this price was a result of a culmination of all bids placed by all participating bidders) of $45.99 + any shipping costs if applicable. So when you see that the new MacBook ended for $45.99 and think wow, tommy got an amazing deal – now you’ll know how penny auctions really work. Remember, bids on DealDash are often discounted, with current prices at $0.20 a piece.
Tommy spent $794.49, which still a great discount off of the retail say a MacBook valued at $1,300 but really not the huge final end price savings that you presumed he got based on only looking at the end price.
#1 thing you can learn from this – there are definitely deals to be had on penny auctions, but if you do not win an item for $19 or an iPad at 90% remember – the % off retail and savings price is in most cases a reflection of the final end prices.
Try DealDash.com and let us know what you win!
Featured DealDash Item: iRobot Roomba 650 Vacuum Cleaner!
Do you ever get tired of cleaning and wish you could have someone do it for you? What if you could have something clean for you? If you haven’t seen the iRobot Roomba 650 vacuum cleaner yet you need to check it out.
The iRobot Roomba is a robotic vacuum cleaner that will do all the vacuuming for you. DealDash frequently offers the Roomba 650 vacuum for auction with a $400 buy it now price. The 650 was specifically designed to clean up pet hair, dirt and dust and automatically adjusts for the cleaning surface – the Roomba works very well on any surface, from carpets, hardwood, tile and linoleum as it can be set to move throughout your entire home or building.
The Roomba has been programmed with advanced sensors and software allowing to vacuum more surfaces, much more thoroughly as it vacuums every section of a room multiple times. A sensor tells the Roomba when the floor has been completely cleaned. Pretty slick right? It gets even better… You can set the Roomba 650 to clean at whatever time you tell it to, you don’t even have to be home – and it can be set to vacuum up to seven times per week! Plus, it will even return to its home base to dock and recharge between cleaning cycles.
Now, you might be skeptical of just how well the Roomba works – the Roomba was co-founded by an MIT professor back in the 90s and this model in particular has had over 330 reviews on Amazon.com and still holds a 4.5 out of 5 rating!
One Per User Auction
The Roomba is a one-per user item on DealDash, which means all users can only win one of these handy little vacuum cleaners. This means you could have a better chance of winning on!
- Roomba 650 picks up an amazing amount of dirt, pet hair and other debris with its patented 3 stage cleaning system
- Dirt Detect technology employs an acoustic sensor to identify dirtier areas and spends more time cleaning them
- iAdapt is an advanced system of software and sensors that ensures Roomba vacuums every section of your room and cleaning areas you cannot easily reach
- The included Virtual Wall keeps Roomba cleaning where you need it and blocks off-limit areas
- The robot can be scheduled to perform up to seven cleaning sessions per week, even when you are not home
Win the iRobot Roomba 650 Vacuum Cleaner on DealDash and spend the time you saved not having to vacuum doing something more worthwhile, like bidding and winning more useful items!
Bidders on DealDash are scoring the iRobot Roomba for end prices as low as $11.94! Find out more about how to bid and win on DealDash: 10 Ways to Bid Smarter On DealDash.
Helpful Tips & Strategies of 13 DealDash Bidders!
We love to hear your bidding tips and strategies. Here are just a few tips commented here by DealDash bidders!
“THE STRATEGY i LIKE TO USE WITH BIG ITEMS THAT i WANT IS TO MAKE SURE TO GET A BID IN IN THE FIRST 5 MINUTES…THEN i’M NOT LOCKED OUT..THEN i KEEP AN EYE ON THE BATTLES, WHO THE PLAYERS ARE…i COME BACK EVERY HOUR OR SO, THEN WAIT UNTIL THEY’RE ARE JUST 2 PLAYERS, THEN IT’S TIME TO JUMP IN WITH A BIG PILE OF BIDS..EVENTUALLY ONE GOES, THEN IT’S 2man battle of wills”- Colleen
“Quit overspending for your item, when watching item wait until it is down to just 2 people, than start bidding”- Colleen
“Bid Buddy is important to use so you don’t waste and run up the final auction price.”-Dianne
“jumping in after 5 mins is like trying to steel something that they have already put alot of bids in.”-tim
“I always have a game plan and a plan for a plan going into auctions. Do not allow yourself to get bored or distracted by bidder bios. Get that 1 bid in before the auction gets locked and no more bidders are permitted. Be patient and observe whats going on and sit back and wait till you see a couple bid buddies going before you jump in. Good Luck.”-D Rutkowski
“I too place a bid in the first 2 minutes to make sure I can bid later. Then I keep checking on it until I see 3 players consistently bidding. Then I start bidding on it watching not to overspend.”-ojtigger
“What i have learned is bidding early in the morning or late at night has better odds of winning— the competition is not as fierce.”-Barbara
“just pay attention I’ve look ed away for seconds and lost”-justjill71
“I get too excited and start bidding too fast. Don’t do this. Jump in when you have watched the item you want and only a couple of people are bidding.”-Bobbie Dewolf
“I have to be very careful or I get carried away with buying bids and not winning anything.”-Linda Mitchell
“I wait to bid late in the evenings to bid. Good items have sold low in the late/morning hours.And it has worked for me thanks to bid buddy.”-Bid2Win75
“This is for the new bidders, before bidding on your first auction, watch a couple first to learn how it works and get a feel for the whole auction process in general. Then when you feel confident enough, place your first bid and remember to stick with one auction, don’t go placing bids on many different auctions as you will lose tons of bid very quickly. Patience is a key word in the auction world and if you practice this you will find it will pay off in the long run.” -lakergirl1
“I have been on Deal Dash for over 1 year and have got lot of nice things. I am also a gift card queen. Over 250 in gift cards. I agree with all of these tips. My tip is use the bid buddy and load and forget. I also watch when the auctions are running really high. I seem to win a lot of my things is early morning and around 430-5 pm eastern time. Also, if I spend a lot of bids and don’t win but like the product, I will buy and Deal dash gives me back my bids I spent trying to win. A lot of bidders do not like people who just jump the bids up and don’t use the bid buddy. We are all here to win , so play nice and have a happy win and holidays!”-wvajan
These are all great, helpful tips! Keep your comments coming and we might just feature them here!
Good luck & Happy Bidding.
-DealDashTips
“Quit overspending for your item, when watching item wait until it is down to just 2 people, than start bidding”- Colleen
“Bid Buddy is important to use so you don’t waste and run up the final auction price.”-Dianne
“jumping in after 5 mins is like trying to steel something that they have already put alot of bids in.”-tim
“I always have a game plan and a plan for a plan going into auctions. Do not allow yourself to get bored or distracted by bidder bios. Get that 1 bid in before the auction gets locked and no more bidders are permitted. Be patient and observe whats going on and sit back and wait till you see a couple bid buddies going before you jump in. Good Luck.”-D Rutkowski
“I too place a bid in the first 2 minutes to make sure I can bid later. Then I keep checking on it until I see 3 players consistently bidding. Then I start bidding on it watching not to overspend.”-ojtigger
“What i have learned is bidding early in the morning or late at night has better odds of winning— the competition is not as fierce.”-Barbara
“just pay attention I’ve look ed away for seconds and lost”-justjill71
“I get too excited and start bidding too fast. Don’t do this. Jump in when you have watched the item you want and only a couple of people are bidding.”-Bobbie Dewolf
“I have to be very careful or I get carried away with buying bids and not winning anything.”-Linda Mitchell
“I wait to bid late in the evenings to bid. Good items have sold low in the late/morning hours.And it has worked for me thanks to bid buddy.”-Bid2Win75
“This is for the new bidders, before bidding on your first auction, watch a couple first to learn how it works and get a feel for the whole auction process in general. Then when you feel confident enough, place your first bid and remember to stick with one auction, don’t go placing bids on many different auctions as you will lose tons of bid very quickly. Patience is a key word in the auction world and if you practice this you will find it will pay off in the long run.” -lakergirl1
“I have been on Deal Dash for over 1 year and have got lot of nice things. I am also a gift card queen. Over 250 in gift cards. I agree with all of these tips. My tip is use the bid buddy and load and forget. I also watch when the auctions are running really high. I seem to win a lot of my things is early morning and around 430-5 pm eastern time. Also, if I spend a lot of bids and don’t win but like the product, I will buy and Deal dash gives me back my bids I spent trying to win. A lot of bidders do not like people who just jump the bids up and don’t use the bid buddy. We are all here to win , so play nice and have a happy win and holidays!”-wvajan
These are all great, helpful tips! Keep your comments coming and we might just feature them here!
Good luck & Happy Bidding.
-DealDashTips
DealDash Features Explained: Who's On Their Limit?
On every penny auction site there are bidders who will always seem to win all of the items they start bidding in.
You’ll know these bidders when you see them. They’re powerbidders, and as we told you in our Powerbidder’s Strategy to Winning DealDash Auction Series (See The Powerbidder’s Strategy to Winning DealDash Auctions Part 1 of 3; The Powerbidder’s Strategy to Winning DealDash Auctions Part 2 of 3; The Powerbidder’s Strategy to Winning DealDash Auctions Part 3 of 3.) These powerbidders are ruthless, and well, let’s face it – unless you want to spend all of your bids and buy it now (you will get your bids back with buy it now), it’s not always smart to bid against them.
A good thing about DealDash is that there are win limits in place to keep bidding fair.
Don’t like win limits?
Well think about it this way: Would you ever be able to win anything if the powerbidders were able to win everything?
DealDash’s Win Limits Explained
Each bidder can only win a set number of items each week.
The limits are there to ensure that everyone can win the same amount of items.
Each user can win up to 6 items valued at less than $200, and 3 items valued more than $200 per week.
The item’s price is stated as the Buy it now/MSRP price on each auction.
Once you’re logged in you can track how many items you’ve won each week by looking at the winning limit slots. This can be found next to your bid amount on the top right-hand corner of DealDash.com:
Once you have reached your win limits, the site will not let you bid on more items. Again, no more than 6 items valued under $200, and no more than 3 over $200.
Win limits are reset first thing in the morning on the day of the week you registered. So if you registered on Saturday the win limits should reset at 12am Saturday morning.
Did you know that DealDash lets you see who is on their win limit each week?
How to find out who is on their win limit:
1. Click on the “My Dashboard” link right underneath the win limit meter and bids left section on the top right corner of the homepage:
2. On the left-hand side click on the link “Who’s on their limit”
3. Now you will see a page with a list of users who have won the maximum number of wins for the week. Notice how their names are shaded? In order to see who is on their limit you have to click “Show me the list!”
To see the list you will have to spend 1 bid.
You will be able to see an updated list for the next 12 hours.
Check it out!
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Curious to know who’s on their limit now? Here’s a sneak peek of who’s on their limit right now!
What do you think about DealDash’s win limits? Do you like that you can see who is at their limit? How does this help you as you bid on DealDash? We want to hear about your experiences and don’t forget to send us your questions for our new weekly Dear DealDashTips! Reader Question & Answer Series!