8. Penny Auctions: Advanced Strategies

These strategies can be priceless to any inexperienced bidder, but I must remind you to read the GUIDE and BASIC TIPS first.

No matter do you want to win few auctions only or you want to make living with it, you must keep in mind: there is only one winner! Luckily for you, most people come unprepared, start bidding and hoping for the best. But, if one wants to be a winner (not once or twice by a chance, but a regular winner), one must develop and use a good strategy. There are 3 basic strategies to consider. Choose one depending on your temperament. And choose wisely!

• Hopeful;
• Conservative;
• Aggressive.

Hopeful strategy

At the beginning, auctions usually don't get much attention. But, I've seen many times someone winning an auctions for a few cents only because others were waiting for someone else to bid. This strategy is all about being the first or second to place a bid, bidding until $0.10 or $0.20 and, if you don't win by then, changing a strategy. This strategy works the best when there is no much bidders around; so, try it on Tuesday, Wednesday and Thursday.

Conservative strategy

The most popular one. Perfect for patient, analytical people. Requires deep research, which can be time-consuming, but ensures cheap wins.

Common tactics:

• Bidding late

Conservative bidders don't waste their bids. They let others to waste theirs, so they can win an auction with just a few TCredits spent.

• Sniping

When the price becomes too high, auction stops attracting new bidders, and makes some existing bidders quit. That is your chance! New bidder (you) and already high price can discourage others, so you can win an auction with just a few bids. The winning price could be higher, but the bidding costs are low. However, if you plan to try auction sniping, there are some MUST DOs!

- You must know your opponents and their bidding habits. Sniping usually fails against an aggressive opponent. But, watch an auction closely and if you identify two or more aggressive bidders, grab your chance and win!

- You must know the usual winning price for that item, so you can get an idea when to jump in.

Oh, and never try this method at WBF auction.

• Counting bids

Time consuming, and you may need to be experienced bidder before you try this. Basically, you must keep eye on all bidders who have won TCredit packs lately and estimate the number of bids all bidders are left with. This technique can be very useful if you keep in mind: you never know what TCredit packs your opponent have bought, if any. So, don't just count bids; keep an eye on their behavior too.

Conservative strategy works always, if you avoid aggressive bidders.

Aggressive strategy

The most effective one. No one wants to bid against aggressive bidders. Bad side is: first few auctions could be costly, but in long term will net you an amazing wins.

If you plan to become an aggressive bidder, you must start with few hundred TCredits. Join Wave3, enter T-Time every hour, Pick-the-Price or just buy your bid packs, but TCredits is a must-have! And don't forget: the more bids you buy, the more you save.

The first thing you must do is to start building an evil reputation. Choose your first auction and win it at all costs. Bid like your life depends on winning it and like you have 1000 TCredits. As soon as you are outbid, place new bid; don't wait for timer to hit zero. Use an Auto-Bidder, or, in case of NAB auctions, be the Auto-Bidder! This will scare off your competition and they will eventually quit, but, more important, they will remember you as a badass, the born winner. Your name will be listed in the "Latest Winners" section for all conservative bidders to see. Soon people will start recognizing you as someone who never quits and they will stop bidding against you - allowing you to win an expensive items for a pennies, every time.

Tip for all future badasses: use some easy-to-remember, evil nickname.

Aggressive strategy works always.

I used shortcuts few times in todays post. If you don't know or don't remember what WBF, NAB etc mean, read or reread THIS POST. 

Happy bidding!

Emma

P.S. The last tip: BE DIFFERENT FROM YOUR COMPETITION: be prepared, stick with your chosen strategy and budget and never, ever be overexcited. That is the difference between the winners and... the other 95%.