How to Win More Penny Auctions

Penny bidding is as popular as ever, and those who frequently bid at penny auctions want to know: How can I win more penny auctions and spend less money? While there isn’t a specific method, many of the following tips have been helpful for those who want to win more penny auctions.

Try some different methods

Many places offer seat penny auctions. This type of bidding allows the user to pay an entry fee and then the final bid price, so you won’t ever have to pay per bid. Avoiding paying per bid will definitely help your wallet in the long run. Blind bidding might be another option. In this type of set up, you won’t know who you are bidding against, and neither will anyone else. Sometimes people win easier with blind bidding. It’s worth a try!

Of course, you should shop around for your favorite penny auction site. New sites often provide bid pack promotions or discounts to get new business. Try out as many as you’d like and return to your favorites. Each penny auction will also have a different form of accepting payments because of their various merchant accounts as well. For more information about penny merchant accounts, visit eMerchantBroker.com.

Use Buy-It-Now options on things you really need or want

Many penny auction sites have a “buy it now” option where you can pay the full price of an item without even bidding on it. Where you know that you will buy this item elsewhere, this option might be the cheapest way to use penny auction services because you can avoid bidding fees almost entirely. Be sure that you are tracking your bidding expenses compared to what you would have spent on the item elsewhere. Is it really a good deal? If not, then avoid buying that item on penny auctions next time.

Devote time and energy to the process

Do not bid when you are running out the door to something else, even if you think the process will just take a few minutes. Being rushed will make you careless, and sometimes bidding really does take hours of your time. Paying attention is also a key habit. If you get distracted, then you could lose money very quickly. Keep a close eye on anything that you have already invested money in. Try using an auto bidder or bid buddy if necessary. A bid recorder app may also be helpful. Research is also important. Knowing the platform and process is vital.

Penny auctions can be tricky, but with the right information and outlook, you can spend less money and get more out of them.