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Tips & Strategies For Winning Pricebenders™ Auctions
From TripleClicks Pricebenders Auctions management.
There seems to be no limit to the number of tips and strategies out there on the
Internet about how to win penny auctions and spend the least number of bids to
do it. Trouble is, there seems to be little consensus on many matters. Some “experts”
recommend using auto-bid tools, others warn against them. Some stress intricate
strategy and mathematical accuracy of bid timing and amounts.
Others claim that winning is most simply a matter of bidding at the right time.
However, what most DO agree on is that preparing yourself and practicing a few,
clear penny auction do's and don'ts could save you a lot of money AND increase
your chances of winning. For preparation, read (and re-read if necessary) the
“How It Works” article HERE Then, before placing a bid for a Pricebenders™
auction item, be sure to familiarize yourself with these essential do's and don'ts:
Pricebenders™ Do's
DO...determine a bid budget and stick to it.DO...watch the auction timer. If the counter almost reaches zero again and again
before starting over, it means that there are probably not very many members bidding
on that item...and that means your chances of winning are higher.
DO...consider some of the less-expensive items. Generally, fewer people bid on
cheaper items and, again, fewer bidders mean your chances of winning are higher.
DO...time your bids wisely. This is a vital factor to winning. Bidding right after the
start of an auction, for example, is usually a wasted bid.
DO...observe the auctions and list of recently won auction items to determine the
best time of day that consistently have the fewest bidders (generally, the lower the
winning price, the less bidders there were).
DO...enter the "Pick-the-Price" contest (located adjacent to all Pricebenders feature auctions).
It only costs 1 TCredit to enter and it's simple, easy, and fun! Just log in at TripleClicks
at the start of each new feature auction and submit the amount you think will be the winning
price of the item. Yes, you can enter each time we start a new auction...so multiple times
every day you have another chance to win! If you pick the final price exactly right,
you immediately win 200 free TCredits, a $64 value! If no one predicts the exact final price,
the person who is closest without going over wins 50 FREE TCredits. In the event of a tie,
the person who posted the winning prediction first will receive either the 200 or 50 FREE
TCredits prize, whichever is applicable.
DO...purchase your TCredits for bids in bulk if you can. In this way, you'll minimize your
cost per TCredit (as low as $0.29 each) and ensure you'll have as many as you need to
complete an auction. Running out of TCredits at the last moment can be costly...and heartbreaking!
DO...if you're on the TripleClicks homepage, check out the auction item's description page
by clicking the item name. In this way, you'll be sure to know EXACTLY what you are bidding
on and avoid unpleasant surprises later. You'll also be able to see the bid log listing all bidders
for this item. Tip: Click on a bidder's name to see their TripleClicks "TConnect" Webpage
to learn more about him or her.
DO...use Pricebender's Auto-Bidder with care! This useful tool can ensure your bids are
entered automatically, so you won't have to stand by monitoring an auction...but it should be
used carefully and with your budget in mind. Tip: Let's say you think an item's final price
is going to be $5.75. A smart auto-bid might be to set up, say, 10 TCredits for between
$5.50 and $6.00. Of course, keep in mind that if the price never reaches $5.50, none
of your bids will be placed. Conversely, if the price goes beyond $6.00, someone
else may win the auction after your ten TCredits have been automatically bid.
DO...read Pricebenders Rules & Policies and be sure you understand the rules and limits
for participating in the penny auctions.
Pricebenders™ Don'ts
DON'T...spend more on an auction than you are willing to lose.DON'T...wait too long to bid. Connectivity issues, computer crashes, latency (network delays),
and other factors may interfere with your bid. If you wait till the last few seconds to bid,
you're running the risk that your bid won't go through in time. And make sure you understand
that when you bid, it just resets the auction clock, so being the last one to bid before the clock
hits zero gains you little if anything...and may just keep you from winning if your bid is delayed
by one of the afore-mentioned technical issues. If your strategy is to wait until the
"last possible moment," we recommend bidding with NO LESS THAN 5 seconds remaining.
DON'T...get overly excited when bidding. You'll be more likely to break your budget and/or
use your TCredits up faster than you need to.
DON'T...get in a bidding war with other bidders. If you can, sit back and let others battle and
use their TCredits trying to out-bid each other.
DON'T...pick an item on which to bid just because it looks like only a few members are
bidding on it. A lot ofmembers wait until the last few moments to bid. So while it may look like
only a few bidders are interested, dozens more are probably watching and waiting—particularly
if it's a popular item.
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