Monday, July 2, 2012

4 Practical Tips: Sites

By Mark Banderas


In this economy, consumers are always looking to shop smart and save a few dollars. We're always looking for the marked-down, final sale, liquidation prices that will allow us to buy the gadgets we've been lusting over. Because of this, new penny auction sites are popping up on a daily basis, offering us those discounts that we so crave. But despite their popularity, penny auctions have managed to maintain an air of mystery; how exactly does one win?

Your first few bids should be small, low-risk items. Gift cards are perfect for this; you'll be able to learn the ins and outs and find your footing within the realm of penny auctions. You may find yourself in over your head if you go for too much too fast; bidders with experience have developed strategies and skills that you do not yet posses. Once you've practiced and gained some experience, you'll be on your way to swimming with the big fish.

A great way to ensure your success is to learn the game like the back of your hand. As you begin to learn, research which sites seem to produce the highest number of winners and success stories. Look at the items that people are bidding on, and compare their prices with other popular penny auction websites. This type of research will help you weed out the bad websites and the scams.

You should make sure that the website you use is worthy of your time and trust. It would be wise to confirm that the auctions and products are legitimate long before you begin spending money on them. Do a simple internet search on your preferred site and read a few reviews; you may find them to be outstanding, or you may find them to be disappointing. Regardless of what the reviews say, you will be better off knowing the truth about your penny auction website.

Perhaps the most important part of penny actions is knowing your competition. Make sure to look at the prices of comparable items before you bid. Look for constants; is the price for a certain item usually in the same range? Do a lot of people seem to want this item? Are certain times of day busier than others for bidders? Studying all of these components will help you to bid successfully every single time.

With some practice, you will be experienced enough to compete with the professionals. The success stories often sound unbelievable, but soon you'll be on the receiving end. You'll learn firsthand that penny auctions are distinctly different than gambling; a talented bidder will win their items at a low cost and with great ease. With a little bit of experience, you'll be counting yourself among them faster than you can say, "bid!"




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