Monday 21 December 2009

Patience - Strategy to win on Penny auction

Penny auction sites are more than just gambling. Winning is very likely in Penny Auctions with the right choice of site and strategy. Penny auction sites generally put up items for auction for zero pound/dollar and every time a bidder bids the price goes up by one penny. So you end up getting things which are above $500 also for few dollars!! A Penny Auction is where an auction item's bid price goes up by one penny each time someone bids. So for example, if a big screen T.V. is up for auction, it starts at $0.00. The first person to bid makes the bid price $0.01. The next person to bid can only raise the price by one cent so it goes up to $0.02, and so on...

So how does this work? How can we really buy items for pennies? Well, if you are aware of Penny auction sites you need to own a bid first to place a bid! That's right...you buy bids and then place bids on the item of your choice. Like any auction penny auctions are also time-bound. But the duration for Penny auction is in minutes unlike the normal auctions. It would generally be five minutes or so. Once a bid is placed the countdown begins and the clock is reset for every new bid. That way the newcomer has a chance to bid. But if none bids then the bid is won at a good deal!!

So now, here comes the strategy. In penny auction if you would like to win instead of placing a bid, waiting is the best strategy is Patience!! Yes, you need to first monitor the items you like. After sometime you will be able to judge the dynamic on the sites. For e.g.: if the site is having less interest on your favourite item then you should bid. Then you have a high chance of winning a great deal. On the contrary if you see more activity then it maybe difficult to win unless you want to end up spending more money.

Strategies to win on Penny Auction

Self help

Penny auction is a new concept which has intrigued me for a while now, I have followed this concept quite closely and I want to be one of the thought leader in this business.

This was my first post I want to think of Penny Auctions akin Stock Trading -

Penny auction is in many ways similar to say trading on stocks:

- You need to take the risks to earn the return - Users who buy more bids have the staying power. They wear out the competitors and win the product. You have to be very lucky to win a product with your first 5-10 bids.

- It pays to adopt a different strategy - You can fairly guess at what points during the day the traffic on the website will be high or which products are more likely to attract more bidders. Not following crowd always helps.

- You should know when to hold and when to fold - Cutting your losses is the key to trading on stocks. Same applies here, if you see that you are being carried away by a strong bidder, you can't let your emotions get in the way. You have to be aware of your exit points. You obviously don't want to spend 100 pounds on bids to secure an ipod worth the same price!

In the next post I will be talking about various Penny auction websites in the UK.

ONLINE AUCTIONS FEED WORLD CUP FEVER

As the countdown to South Africa enters the final 6 months, online auction fans are getting football fever.

David Beckham was hobnobbing with football's fat cats in Cape Town this week to promote England's bid to host the 2018 World Cup. At a media event, a group of children were left wondering why they were being asked to play keepy-ups with a hillbilly, only to realise that it was in fact their beloved Becks, sporting a Brokeback Mountain shirt and his latest in a long line of absurd haircuts. Let's hope he tidied himself up before he met Sepp Blater, the Fifa president.

But while Becks was dressing up as an extra from Grant Theft Auto: The Milan Years, the main order of business was the draw for next summer's tournament. This is when serious football fans really start getting excited about the prospect of a solid month of football. The colour, the passion, the atmosphere, all the best players in the world in the one tournament money can't buy. Add to that a stubborn refusal to acknowledge that World Cups are always a massive disappointment and will never, ever be as good as the one you watched when you were 11 and you have everything you need.

Well, almost everything. How about a Samsung 42" plasma TV to bring the big match atmosphere right into your living room? Or Fifa 10 on the PS3 to show them how it's done afterwards? If you sign up to an online auction website like MadBid now you could win yourself a World Cup cornucopia of goodies (look it up, it means lots) before the big kick-off.

MadBid also auctions off piles of cash, which will help pay for a few afternoons in the pub watching the action and a few evenings in the pub debating endlessly where it all went wrong. Auctions have also been running for a DVD box set containing the complete collection of Lost, which will provide a bit of respite when you're all footballed out. Or how about a brand new car? That's got to beat most pick-me-ups for when the tournament comes to a close.

ONLINE AUCTION SITES ARE LIKE DIGITAL SANTAS

How online auction sites like Madbid.com could make your Christmas dreams come true

It is very nearly that time of year again when we all forget how much we earn and how much we already owe. The recession is for wimps. Downturn, upturn or about turn, when it comes to Christmas we'll be spending money like drunken sailors. Lavish gifts for relatives we won't see again for a year, new outfits for each one of the many parties we'll be attending and food fit for a medieval court – Christmas is no time to be frugal.

Of course, there will be some who decide to boycott the festive gluttony, drunkenness and inappropriate dancing. Plenty of people don't celebrate Christmas on religious grounds, while others will be busy working while the rest of us are arguing about the best way to cook the turkey. You also get the odd killjoy who thinks Christmas is too commercial these days – an opinion arrived at shortly after deciding they're too tight to buy presents.

But this year a fair few of us are likely to fall somewhere between the modern-day Mr Scrooge and the office moron who's been wearing a tie made from tinsel since late November. We want to be merry, we want to celebrate, we want to take a break from our worldly woes, but we're also looking for opportunities to save a bit of cash.

One potential means of cutting the cloth this Christmas is to hit the online auction circuit. Sites like Madbid.com give you a chance to get your hands on the kind of Christmas presents that get you a "wow, that's worth much more than I spent on you, just wait until your birthday" instead of a "I hope this smile looks genuine, let's see if mum still thinks he's marriage material after this debacle". What's more, you can pick up these festive nuggets of gold for a fraction of their retail value.

A flatscreen television and home cinema system is just what you need to do justice to Zulu or Escape to Victory. Not a fan of the Queen's speech? Well, you're a traitor and you should be ashamed of yourself, but once her Majesty has said her piece how about 4-player Mario Kart on your new Nintendo Wii? You can even win a pile of cash to blow on whatever manner of festive tat takes your fancy or Tesco vouchers to take the edge of that eye-watering big Christmas shop.

Now, online auctions are not a license to print money. You must be sharp of wit and steely-eyed, with patience, focus, determination and expert timing to boot. But if you have what it takes to succeed on sites like Madbid.com you could have a very merry Christmas and an overdraft free New Year.

Tuesday 15 December 2009

ONLINE AUCTIONS – A CURE FOR CHRISTMAS STRESS

Christmas can be a stressful time but online auctions can take the fuss out of the festivities.

Christmas is just a few days away and with snow on the ground and a nice little four-day break coming up, many of us will be full of festive cheer. But Christmas can also be a stressful time of year – and not just for SC and his over-worked midgets. Trekking across the country for family gatherings, elbowing your way through the crowds to buy the last of your gifts, deciding which celebrity chef really knows how to cook the turkey – it's enough to knock the stuffing out of you.

But of course, online auctions have the answer. You can land all manner of festive goodies for a tiny fraction of their retail value. From home entertainment systems to piles of cash, online auctions provide the ideal light relief to the Christmas headache. Here's our top five online auction Yule tide treats:

Tom Tom Go Live 950
Sat-navs are must-haves when it comes to visiting relatives for the big family Christmas. Nobody wants to get lost, especially when it's snowing and there's a massive feast and loads of presents waiting for you at the other end. Win yourself one of these bad boys on an online auction site like MadBid and you need not worry about swallowing your pride and for asking directions or arguing with your co-driver over how to read a map ever again.

iPhone 3Gs 32GB
Christmas stress? There's an app for that. Well, probably. You can find out for yourself if you pick up the best phone on the market for a fraction of its not-so-insignificant price tag. After spending all that money on presents for other people you deserve a treat. Don't leave it to Santa – reindeer sweaters can't find your nearest Indian restaurant or tell you if your shelves are level.

Nintendo Wii Bundle
After two weeks of eating for England, many of us will be looking down at a spare tyre come the start of January. Online auctions can help with that too. Online auction sites like MadBid regularly auction off Nintendo Wiis – the ultimate fitness gadget. Unlike other games consoles, you can't play Nintendo Wii sitting in a bean bag surrounded by food wrappers and empty cans of Red Bull. You've got to get out of your PJs and get moving. By the time you've smashed home a few winning forehands and beaten some cartoon bad guys to death with your bare hands it'll be like all that turkey and cake never happened.

Ultimate photography kit
Digital cameras are the perfect way to remember great Christmases - or at least provide a few laughs if Uncle Ted has too much eggnog. Don't be one of those tiresome cretins who know the pixel quality of their camera phones – do it like the professionals, with an actual camera. If you bid well, you could get one for literally pennies on an online auction site like MadBid.

Panasonic Microwave Oven
Once the big day is over, you'll be left with all manner of food and just a few days to get it eaten before you have to go back to work. From cold turkey to Christmas cake there'll be more grub than fridge space. A brand new microwave oven for a fraction of its retail value is just what you need to take the edge of a stale mince pie or warm up some leftover veg.