Penny Auction – How to win

The other day I did a post about Online Auctions and how to be successful at them. There are many sites to choose from, and many to watch out for. It can be confusing some times where to go to save money at an online auction. Some are very convincing and can really draw you in. To become success at an online auction you need to practice self control. Just because you see some one getting an awesome deal on a TV or only pay $10 for a Ipad new generation doesn’t mean that you can do it right away.

To win at penny auctions you need to study the format. Learn how the bidding works and watch the action for a couple bids. I will even watch the bidding of an item I want for a couple days. Usually with penny auctions they have the exact same item up for auction once, twice, and even multiple times a day. How I got a Xbox 360 Kinect for $65 was by watching the multiple penny auctions for over a week. I would add them to my watch list and check back every so often to see how much it ended for. I would make a mental note of the ending price and the time of day. To learn when the right time to place a bid.

I have joined quite a few penny auction sites. The only one I trust is Quibids. I shared some of the prior auctions I won in a previous post, PENNY AUCTION – QUIBIDS REVIEW AND SUCCESS In that post I reviewed some of the basic skills to be able to win online auctions. And I showed how I won:

• LG 55 in flat screen LCD TV with 3D for only $94.91 (with shipping) Normally over $2100.00
• Xbox 360 Kinect 360 with 250gb hard drive for only $65.52 (with shipping) Normally $400.00

I got a brand new Logitech Harmony Universal remote for only $18.94 with shipping! Normally these are over $275!