If you have been looking at unique bid auctions, but not yet got involved, the chances are you are slightly sceptical. That is only natural. If there is a way to suddenly save the majority of the money that you are spending, then most people are going to think that something is not right. Here is the good thing; unique bid auctions are completely legitimate, and are growing in popularity for a very good reason.
How Much Can Be Saved?
It always depends on the individual auction. Items rarely sell for over 10% of their RRP. The majority of the items on offer will be selling for less than 5% of their original RRP. This is obviously a huge amount of cash and opens the doors for people that can not afford the highly priced technologically advanced items of today. One of the things that are worth noting is that at 5% of the original RRP there is still 95% of cash available. This can be allocated towards bid credits and gives each individual a huge chance to win an item.
So Bids Cost Money?
This is how these unique bid auction sites make their money. They charge a small fee for each bid. The bid price will vary. For instance, bidding on a TV might cost three times more than bidding on a micro scooter. Of course, you need to determine which items that you really want. Some people end up making the mistake of bidding on items simply because they are cheap. You won't be winning all of the items that are being posted on the auction site, so it is a much better idea to be selective. For instance, a lot of people will choose to go with 2-3 items per month that they really want to bid on. They will also focus the majority of their bid credits on these items to increase their chances of winning.
Wouldn't It Be Better To Use Normal Auction Sites?
Sure, if you want to save 10-15% on RRP or purchase second hand items, then the normal auction sites that we all know and have grown to love are going to be a great option. If you want to waste your very little leisure time to save small amounts of cash that is fine. If you would rather spend this time productively and save 90% or more on the RRP of brand new items, then nothing is going to come close to the high octane environment of unique bid auctions.
Isn't This Just Gambling?
The lottery is legal, but is not classed as gambling. Did you know that over 10,000,000 people play the lottery every single week? The chances of winning these auctions are much higher and also involve a high element of skill and bidding strategy. In fact, most auction sites only have a few thousand members. Of these members, only a few hundred will be bidding on a regular basis, which means that your odds of winning are certainly not going to be 1/10,000,000. They are more likely to be in the 1/200 range, which means that you have a chance of winning auctions on a regular basis. In fact, you can use information to increase your chances of winning so that this is not just down to luck.
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The BidGrid unique bid auction site has free practice auctions, if you are new to this auction format, head over there now to see how it works https://www.bidgrid.co.uk/en/how_it_works.html
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