What do you think of the Leaderboard auctions on DealDash.com?
I can see both advantages and disadvantages of shopping during the Leaderboard features. I have come to the conclusion that if we have our winning strategies down to a science and know how to best use the Leaderboard auctions to our advantage, we could do extremely well. Sometimes I have done well and sometimes I have completely blown it, but every time it has been a fun challenge and a learning experience.
I thought it might be of interest to new DealDash customers to discuss some of the pros and cons I learned from shopping and observing the Leaderboard auctions.
One of the greatest advantages of shopping during the Leaderboard auctions is the top three shoppers who placed the largest number of bids by the time the auction closes will automatically receive some bonus bids in return. The Leaderboard feature is a way for DealDash to reward shoppers who placed the most bids for their dedicated participation.
Wait a minute! Wouldn’t the customer who placed the largest number of bids always end up winning the auction? Nope. Here’s what can happen.
The shoppers who start placing bids in an auction as soon as it opens might use 200 bids and run out by the time the auction reaches the “No New Bidders” mark at $5.00. Then shoppers who waited until the last minute to place their first bid just before the auction hits the $5.00 mark could win using only 25 bids or less. That hardly seems fair, does it?
The Leaderboard feature is (in a way) an attempt to remedy that situation, and that’s a good thing, right? Shoppers usually have to start placing bids from the beginning of the auction to win the free bonus bids at the end … unless the beginner shoppers drop out and the auction lasts long enough for the late shoppers to catch up.
The leaderboard feature, however, pretty much encourages shoppers to participate at the very beginning of the auctions to have the greatest opportunity to win the bonus bids.
One of the disadvantages of the Leaderboard feature that I see is that these auctions do not usually sell out early. Leaderboard auctions encourages shoppers to become aggressively competitive in their effort to place the most bids, get the most time on the clock, and win the highest number of bonus bids.
If you would like to “duke- it-out” with other shoppers it could be part of the excitement and fun of shopping on DealDash. However, set reasonable limits and be prepared for over-bidders. Remember that other, less obvious, events might be happening at the same time that might affect the auction we’re in. For example, DealDash sometimes offers one extra hour on the clock if we win an auction that day. Just to get that extra hour on the clock, I overbid on purpose to win the auction.
The bottom line
If we develop a good strategy, the Leaderboard auctions can reap great benefits. It appears that the shoppers who do the best in these auctions believe in diversifying. By that, I mean they place a reasonable number of bids in the beginning of several auctions with the idea they could end up with more bids than they placed. How could that be? Let’s say we place 100 bids in an auction that offers 200 bonus bids. If we used all 100 bids but end up having the most time on the clock, we would still be 100 bids to the good even if we did not win the auction.
Happy shopping everyone!
This sponsored blog post was submitted by: Barbara L. Sellers. Barbara was compensated by DealDash for this blog post. Blog posts are written by real DealDash customers. The opinions and advice here represent our customers’ views and not those of the company.