If you’re one of those bidders who just and bid and end up losing tons of money, and believe me, even the most conservative spenders can get carried away when they get started on a penny auction site (I’ve been there), learn how to make the most of your bids.
How to Make the Most of Your Bids on DealDash:
1. Don’t “bid throttle” – Slow down! This means don’t just bid right away and blast away your bids by bidding right after anyone else bids. A lot of people get carried away and frustrated that they aren’t able to win right away, so what do they do? Blast away TONS of bids when they really shouldn’t. If you are bidding and someone else bids against you, then you place a bid and they bid against you again notice how other bidders that were also there bidding before you started to bid have slowed down? They’re still there and waiting for you (or the other bidder) to drop out… Watch out for this and don’t get carried away so that you place way more bids than you need to.
2. Stock up and Save!
Okay, I know that sounds like a weekly supermarket ad – BUT, it’s a great idea to stock up on bids, so that you can save money in the long run. Ways to do this would be to watch out for bid promotions and purchase bids in BULK when they’re on sale. For instance, the cost of a bid in an initial bid pack is $0.60 a piece. If you wait or get in on bid pack sales you can get them for as low as $0.17 or even less! There’s currently a bid promotion for Mother’s Day where bids are now $0.15 each.
3. Don’t win? Get ALL of your bids back
Huh, What? You can get ALL of your bids back? I know what you’re thinking… how can that be? Well, DealDash lets all bidders get their bids back if they don’t win an item by using “buy it now” to buy the item within 7 days from the auction close date. This is great if you really want the item you were bidding on and don’t like to lose money by losing the bids you placed. So definitely use buy it now when you bid and don’t win.
4. Keep track of your win limits and make the most of them!
All bidders can win up to 6 items valued less than $200 and 3 items valued more than $200 per week.
You can keep track of the status of your wins by looking at the win limit slots right next to your bid balance amount on the upper right-hand corner of DealDash.com.
5. Bid wisely.
Only bid on items that you really want or need and that you would be able to use buy it now on to get all of your bids back and minimize losses.
Do you bid on DealDash or any other penny auction? Tell us about your bidding tips! Good luck, win tons!
Photo Credits 401kcalculator.org
Useful tips on how to win auctions