Dealdash is one of our favorite penny auction sites, we have won more items from dealdash alone then any other penny auction site.
Granted, not all of those wins saved us a fortune, but we still managed to save much more then we would if we bought the items down at the local high street shop. For many, choosing the right penny auction site is a difficult decision. On Penny decider we have reviews for all of the top penny auction sites should you need to do your research before you decide which site suits you the most.
“An iPad for $13.66, a Macbook for $3.44 or a 50-Inch HDTV for just $1.00.. American families are winning deals like this on DealDash every minute. And shipping on DealDash is always FREE on all items.” – From Dealdash
But for the purpose of this post, we are going to assume that you are currently using Dealdash or are looking to sign up. If you are still unsure then check out our Dealdash Review. Now, an important thing to remember is that Dealdash is the longest running penny auction site to date, this is good and bad, it’s good because there is a very wide range of items available, you will always find something that will take to your liking. But it can also be bad because of the high userbase which means more competition. Now Dealdash has made changes to tackle this issue and we will touch on that later.
So lets get this dealdash strategy started, when you have found an item that you want, you need to decide how you’re going to approach the auction. You have five choices which are the following: Aggressive bidding, Conservation bidding, Early bird bidding, Newbie bidding and well informed bidding. Each one of these is a viable way of bidding, you will need to decide which method will suit you the most.
The aggressive bidder is pretty self explanatory, he or she will outbid everyone at every opportunity to try and scare them off, this method does work on some occasions but it’s not a very smart way of bidding and you will need a big budget.
Conservative bidders are quite common and it’s a pretty effective strategy which we have had success with. Playing conservatively means that you will be using the buy it now feature, you will bid on an item that you like until you have either won, or you have used enough bids that you can buy the item at the RRP and get your bids back.
The newbie bidder will mostly look for less in demand items such as gift cards and bid packs, these items are significantly easier to win and we recommend this if you’re just getting started with penny auctions.
A well informed bidder is someone that will only bid during off peak hours to try and give himself the edge, he will look to use all the features on Dealdash such as sneak a peak to find out everything about his/her rival bidder.
And finally the early bird bidder will bid on items only at the start of the auction, over 50% of auctions end at a low price because people try and wait for there to be less bidders. It certainly doesn’t always work like that.
All of these methods work fairly well on their own, but when you combine them, you can get quite a big edge over your competitors. This is how we won quite a few items using this Dealdash strategy:
Set that alarm! yes, that’s right. If you are serious about winning then I recommend bidding in the early hours, the items may not be as good, but you stand a much better chance of winning. Once you see an item you like, start bidding! the only time I recommend waiting it out is if there is a bidding war going on between multiple different bidders. Sometimes you will find bidders that just don’t stop bidding, in these cases it can be worth checking out his/her profile to see their auction history. You want to avoid people that have huge budgets because money is no object to them.
In some auctions we end up using about 25-30 bids and still don’t win, this is normal. But a great trick is to suddenly bid very aggressively, remember… other bidders can see the bidding history in an auction, if they see your name constantly show up they know your not going to give in. This works very well on Dealdash because of the “no jumpers feature” you will be bidding against competitors that know you have been bidding for a while, it can be risky but with great risk comes great reward.
*Tip* Never use more bids then what price of the item costs. If you are bidding on a HDTV and the RRP is $100 then you should only use bids equivalent to $100.
If worse comes to worse and you don’t win, then just choose the buy it now item and you will get all your bids back.
So to recap:
- Get up early to avoid peak hours
- Don’t wait an auction out hoping to jump in.
- Start bidding when there isn’t too many bidders.
- Be more aggressive once you have been bidding for a while.
- Take advantage of the no jumpers feature.
- Use the buy it now feature if you have used too many bids.
Familiarize Yourself with the Tools of Your Trade
DealDash has several unique features to help bidders in their quest for bigger and better wins. Many of the tools are easy to use and understand, but surprisingly some people don’t take the time to learn about them before bidding. Here’s a few example of things you can use to help you learn to win auctions:
Bookmarks – You can bookmark auctions that you’re interested in and then view them all on the same page
The BidBuddy – The BidBuddy is an automated bidding tool that places bids for you even while you’re away from the computer.
No Jumper Limits – One of the most frustrating experiences for bidders is when they’re reaching the end of the auction.
It’s down to you and one other bidder (who may or may not be your arch nemesis)…and you’re bidding back and forth trying to outlast each other. It’s been a long, hard-fought battle, but now you can see the light at the of the tunnel…and then another bidder joins the auction.
Nothing is worse for bidders than the above situation, which is why DealDash has implemented “No Jumper” auctions. These No Jumper auctions prevent new bidders from joining after the item price reaches $5 (sometime less if there’s a sale), thereby limiting the number of bidders who can join that particular auction. There’s less competition in these auctions, and so they’re easier to win!
Source – Dealdashblog
Category: Strategies & Tutorials