Ok, so let’s face it, you can lose a lot of money bidding in penny auctions if you aren’t careful. DealDash offers the buy-it-now feature allowing you to bid, then purchase the item for the stated retail price and get all of the bids you placed in the auction back. This is a really great, no – really awesome offering. If DealDash didn’t have buy it now you wouldn’t be able to do this and all of the bids you place, unless you’re the winning bidder, would really have been lost. So what do you do if you don’t want to use buy-it-now, but just a few bids here and there?
How do you bid smart if you don’t want to “buy it now?” There’s a few ways you could go about bidding in penny auctions without losing a lot of money if you aren’t prepared to spend the retail to buy the item.
1. Set Limits & Keep Track It’s smart to set a limit of how many bids you will be willing to spend/and in effect, lose, if you aren’t the winner. Make sure you set a number before you start bidding and limit yourself to this number, or else it’s very easy to continue to buy bid pack after bid pack and spend more money than you wanted to when you aren’t prepared to or willing to actually buy the item. Say it’s a $1000 laptop, you really want to win it, but at a discount, you don’t want to buy it.. so set a number: say $100… and be comfortable with that amount and bid accordingly.
2. Bid Smart: Get to know your fellow bidders Though not always easy, I cannot stress enough the importance of “getting to know” your competition. How do you do this? DealDash has a few ways to tell you more about a bidder. 1.) On the item page for each auction as soon as an opponent bids it will also provide you with a few pieces of information: For instance, user “Diannas” is currently bidding in the auction for the Comic Images BackPack Buddies Yoda.
When she bids this info shows up under her username:
Winning limit status: 3 / 6