The game called penny auctions

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Author: Robert Alfred

Every time you bid on items at penny auctions you are like, 'oh what a game!' They are indeed like mega hit thrillers most of the times - these auctions. And it's a test of your smartness and intuitive skill too, matching the top class game shows on earth.

Although in penny auctions you can choose not to loose all by opting for the 'buy now' option' - in which you get the chance to buy the item at a discount equal to the value of the bids - you got to be smarter to win more bids. It needs discipline rather than recklessness.

So don't rush but still be spontaneous. Know the arithmetic of penny auctions and study carefully the auction site. Trust your common sense as well. Be alert but not tense. See if the site is offering you free bids. You can win, and win big with those free bids - that will be sheer luck - but if you are thinking long term, save the free bids and buy bid packs with them instead.

Be patient. You can wait till you have come within 1 or 2 minutes of the bidding to end. Remember that each bid extends the time by 10 to 30 seconds in penny auctions. Thrilling, isn't it? Make sure you understand the rules of the auction entirely.

Take calculated risk. But don't be overzealous. And if you end up winning in penny auctions you win big indeed. A great product can be won at a cool 80 to 90 per cent discount. Why? Because you just pay for the number of bids you buy and the winning bid price, to grab a product that is 10 times costlier maybe than what your payments add up to. A lot depends on the bid pack you buy and the number of bids you place on a particular product.

You may be caught on the wrong foot if you think a product is less competed for by seeing lesser number of bidders 10 minutes before bidding ends. The fact is that many might be waiting and watching. It's best to start your bidding journey with low cost items, and after winning a few you gain confidence and experience to bid for costlier products. In penny auctions you needn't be frustrated if you don't win for sometime. You rather should revel in the nail-biting thrill and the winning ways will commence just like that.

The penny auctions sites offer bidding for bid packs as well. Spend judiciously on them. Choose a bidding time when traffic may be low, which is not necessarily the wee hours only. By buying more bids you save money and stay on the game for a longer period of time as well. This way you have a fair chance to win more number of times. Some stock trading talent may come in handy in these auctions.

Plenty of thrills await you in penny auctions sites like bidzillion.com. So go for it. Happy bidding!