14. Pricebenders Auction Clock

Every penny auction ends when the clock reaches zero, but the clock resets with each bid received. So, there is no way to know how long a penny auction will last. But, you can get a general idea about that and about the final price before you even start bidding.

If you start observing Pricebenders penny auction from it's very beginning, you will see that it starts with current price and time left to bid at zero, and current highest bidder is -1 (I really don't understand why -1 instead of 0 or no one, though). But, as soon as the first bid is placed, timer starts counting and the auction actually begins!

Every placed bid will reset timer. TripleClicks didn't provide the exact amount of time, but this is what I found out by observing countless auctions:

• if the current price is between $0 and $0.10 clock will reset to 5 minutes;
• price $0.11 - $0.25      4 minutes;
• price $0.26 - $0.50      3 minutes;
• price $0.50 - $1.00      2 minutes;
• price $1.01 - $5.00      1 minute;
• price $5.01 - $10.00     45 seconds;
• price $10.01 - $15.00   25 seconds;
• price $15.01 - $30.00   20 seconds;
• price $30.01 - $40.00   15 seconds;
• price $40+                    10 seconds

Please note that TripleClicks can change this times.

Bidders who love bidding at very last moment have 2 more chances for that after the clock hit zero; it will show "Going Once" and "Going Twice" and, if no one places a bid, that is the end of the auction.

Want to know how long the Pricebenders auctions last with tempo like this?

Different. In theory, it is possible to reach only $0.12 after a whole hour of bidding. That would be one very long and boring auction, don't you think? Luckily, it never happens. The slowest auction I've ever saw (and I saw many) reached $0.75 after one hour, $1.90 after two hours and finished with the final price just a little over $2. Not counting the auctions which never reach $0.10, of course. Generally speaking, the slow penny auctions are your wallet's friends.

Fast auction can reach price of $8 to even $10 after only one hour!

Any idea why is tempo so important?

Correct. The faster tempo of penny auctions, the more active bidders. And the more active bidders, the higher final price. No matter are you conservative or aggressive bidder, if you see bid war, wait! Let them use all their bids first. Time for bidding is when the penny auction becomes slower; not just for Pricebenders penny auctions, but for all penny auctions. And that is the perfect time for the aggressive bidders to additionally annoy already annoyed participants.

When you place your first bid you will see big, red, bold YOU ARE THE HIGH BIDDER!. Once when someone outbids you it will be replaced with discrete, almost invisible "You have been outbid!". (Thank you, TripleClicks for that. If "You have been outbid!" is as big as "YOU ARE THE HIGH BIDDER!" bidders would be much more aggressive. I think.)

I wish you many Pricebenders auctions with final price lower than $0.10 and to never see "You have been outbid!".

Sincerely,

Emma

P.S. Don't forget to read/reread e-report, tips and strategies. And if you still don't know how to earn with penny auctions, check out this post!