If you have read our Beezid review then you will know that Beezid is in our top 5 penny auctions.
We loved how they were trying to spice up the penny auction industry by implementing new features such as the balloon auctions and power bid.
When you learn how to use these features correctly, you will greatly increase your chances of winning.
What we said about Beezid -
So it’s pretty clear Beezid is one of the leading penny auction sites, you can take comfort from the security and legitimacy of the site. But also the fact that despite being a large site with a big userbase, the ease of winning was surprisingly good. The shipping speed and fees could be better however. Overall though we like the way that Beezid is trying to be innotive by creating different types of auctions, we found these to be a very different yet fun way of bidding.
Source – beezid review
Having the right strategy is crucial when it comes to penny auctions, we see countless of users just bidding aimlessly hoping to get lucky, you want to minimize the luck aspect of winning as much as you can. Just by doing your research and reading strategies such as this one will separate you from the majority of your competitors which is the key.
Unlike many other penny auction sites, Beezid is one of the few that lists cars up for auction. We have briefly spoke about this before but this can really work in our favor. Now before we get started, the idea here is not to bid on the cars so don’t be expecting to walk away with a brand new BMW any time soon!
This doesn’t just go for cars either, it goes for any high value item that doesn’t go up for auction that often. Because, when these items; such as cars… go up for auction, everybody will be rushing to try and win them, it amazes us every time! On Beezid in particular, there is always hundreds of different auctions going on at any time, so whilst everybody is looking at the cars and trying their luck, because winning cars is simply luck – no strategy can help you win cars. You will be bidding on the less common items such as gift cards or golf clubs etc, your chances of winning increase dramatically.
Always go for the low value items, there is no point in going straight for the 3d televisions, simply because there will always be demand for items such as that, the same can be said for cash auctions. Try to find items that won’t appeal to every single bidder on Beezid.
Bidding at the right time is very important as stated on eHow:
Bid at non-peak times. Beezid users tend to follow the same schedules everyone else does, which means less people are competing on the site late at night, very early in the morning and during meal times. Use these times to your advantage to reduce the number of competitors you have to face for a desired item.
Timing is everything on penny auctions, there is lots of little things you can do to increase your chances of winning and when you combine them altogether… you start separating yourself from your competitors, thus giving you that slight edge which is crucial.
Always choose the buy it now auctions, we wrote an article solely dedicated to the buy it now option simply because you can potentially save your self a lot of money if you end up using more bids then you originally planned.
For example Sylvie from yahoo answers wrote:
if you are new to penny auctions go for “buy now” auctions. not all auctions on beezid have this option so make sure you check that out first, they have a small picture near the product called bin. with these auctions you can buy the item any time you wish at the retail price and beezid will give you back the money you have spent on bids. so if you bid on these auctions you have nothing to lose. this is how I won a tablet for half the retail price, I had the money to pay retail price anyway.
Source – Yahoo answers
Whilst we wouldn’t go as far as saying that you have nothing to lose, because that usually isn’t the case. The buy it now is… sort of a ‘safety net’ feature that allows you to walk away with the item that you are bidding on even if you lost the auction, so if you spent over 300 bids then you can use those 300 bids to pay the RRP of the item, you won’t make any savings but you won’t walk away empty handy either. It’s a very powerful feature that should be certainly considered.
Cherry auctions are basically auctions that only allow newcomers, the items here aren’t usually as good but you can still find some great items that are worth bidding on, these auctions are notoriously easier to win because there are way less people watching or bidding. You are only allowed to win these auctions 3 times before they disappear, of course you can create a new account and win another 3 times, however you would need to sign up under a different name.
But another reason we love Beezid is because of their “Thriller auctions” which basically means that there is no auto bidding tools allowed! these auctions alone are a very good reason to consider Beezid because sometimes you will find bidders using these tools with an unlimited budget which means it’s impossible to win as the tool will outbid you no matter what.
We’ve talked about our dislikeness for auto bidding tools many times before, simply because there are some bidders with more money then sense and unfortunately it’s very hard to beat these people when they are willing to accept a lost. So always try to choose thriller auctions when you get the chance.
When you combine everything we have talked about here, you will greatly increase your chances of winning, it’s the small things that make a big difference, there is no secret to winning penny auctions. Experience and expanding your knowledge on penny auctions is your best bet.
Interesting post from reuters.
“We have some amazing partners with whom we’ve built incredible working relationships over the years,” explained Beezid CEO Max Bohbot. “Because of that, we’re able to offer the same great items at unbelievable discounts, without you having to bid on them.”
But deeply-discounted merchandise without the risk of “bidding” is only the tip of the iceberg. The Beezid Store also features a patent-pending “Flip” process that lets members resell items they win in auctions directly on the site… literally turning savings into profits.