There are lots of different types of bidding sites on offer. You might have been persuaded to start bidding, as you have seen some recent auctions end at ridiculously low prices. The reality is that it is only the lucky few that manage to get these deals. There are thousands of auctions finishing every single day. Only those people that combine luck with strategy will be successful when it comes to getting a great deal. Here is the good thing; you can build a winning strategy of your own. After taking into account the items you want and the type of auction you are involved with, you will be able to find the deals that your after.
The type of site
Before even thinking of a strategy, you need to determine the type of bidding sites that you are thinking about using. For instance, a lowest unique bid auction website is going to need a different strategy in comparison to a reverse auction website. Some bidding sites will offer a range of different auction formats all in one place. Once you have decided on the type of site, sign up and you can start bidding. This is the point where you need to start your strategy development.
Developing a strategy
The basis of every strategy should come after some basic research. For example, on lowest unique bid websites, you can check to see which patterns keep occurring. Are the majority of lowest unique bids under £1? Do they always end in an even number? After a while, you will pick up on more and more strategies. You will be incorporating the information that you have acquired into your own strategy so that you have a much better chance of being successful.
Of course, on a standard bid up auction, your strategy is going to be completely different. Most people will assume the value and bid just above it. If you think an item is worth £10.00, then a lot of people will set their maximum at £10.00. Try a random number like £10.12 and you will beat all of these other people and only go over budget by a tiny amount. Timing is also extremely important here. Last minute bids tend to work very well, whereas they certainly do not work as well on lowest unique bid auction sites.
Putting a plan into action
The best strategies are going to be those that are developed over time. Don't expect to place and few bids and start winning regularly and instantly, although this is always possible. Some of these people have been honing their strategy for a year or more. This is what you need to also do. Adapt your strategy to the specific situation. At the same time, make sure that you adapt the strategy as the market changes. Something that worked well as part of a strategy yesterday, might not work as well tomorrow.
Conclusion
Bidding sites are not actually that complicated. If you take the information that you have been provided with and put it into a strategy, then you will find that you win regularly. In fact, you will win more and more as time goes by.
----------------------------------------------------
There are so many bidding sites to choose from. BidGrid is a specific kind of online bid site where the lowest unique bid wins. Sign up is free and there are also free practice auctions which are a great way to test out the bidding risk free https://www.bidgrid.co.uk/en/how_it_works.html
EasyPublish this article: http://submityourarticle.com/articles/easypublish.php?art_id=318190
No comments:
Post a Comment