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Bidding Tools

Bidding tools can be an effective way of helping you win penny auctions. But, when used incorrectly they could have potential devastating results which could leave you seriously out of pocket. In this post we will look into how to use these tools effectively so that you don’t get into any difficulty.

Nearly every penny auction site will have various bidding tools that aim to help you win. However, they aren’t always the same, some penny auction sites will have exclusive features that are very good such as the dealdash “No jumpers feature” which we will discuss in our deal dash review.  For the purposes of this post we will focus on the more general tools that most penny auctions use.

Automatic bidding tools – This tool is very common and we’d be surprised if that many people actually use it. The idea is that sometimes penny auctions will put up ‘special’ auctions that are sometimes cheaper. So the theory is

Bidding Tools

Bidding Tools

that many users may not be able to log on to bid in the auction so by using these auto bidding tools, it automatically bids for you.  Of course there are many issues with doing this. For instance the tool could use hundreds of your bids at very silly times which could potentially be very wasteful.

You can however set when you want the tool to bid, how many bids it should use etc. Many penny auction sites let you choose really advanced settings which when used correctly can actually work very well. Now, we have to be completely honest we have never won using an auto bidding tool, simply because it just doesn’t make that much sense when there is a lot of money at stake, you want full control over how you bid.

Here is an automatic bidding tool from zbiddy -

What is the EZ-Buddy™ and how does it work?

The EZ-Buddy™ is a useful tool if you are away from your computer, but don’t want to miss out on winning an auction. This feature also allows you to keep focused on a specific auction while letting the EZ-Buddy™ take care of other auctions. It’s very easy to use and is quite effective to enhance your opportunities of winning auctions.  To utilize EZ-Buddy, look for the EZ-Buddy™ on the auction details page on the right hand side.

EZ-Buddy allows you to choose the amount of bids you’d like to place with the EZ-Buddy™ [must be more than 2 bids but less than 25 bids], select the price you would like EZ-Buddy™ to begin bidding for you. You have two choices, you can have the EZ-Buddy™ engage randomly or you can limit the bids to bids with only 10 seconds or less remaining. All you have left is to hit the “Activate” button. When choosing the price range, keep in mind that the price has to be at least one penny more than the current bid. At any time, you can monitor your scheduled EZ-Buddy™ by clicking on the My Zbiddy Tab, located in your My Account page and then click the “EZ-Buddy™ tab.

Source – http://www.zbiddy.com/help-for-newcomers.html

And heres zbiddy’s

http://www.ziinga.com/uk/faqs

 

  • What is bid agent?

Bid Agent is a feature that will intelligently bid on your behalf, based on the parameters you enter. You choose the minimum price, maximum price and the maximum number of bids you are willing to use. Unused bids on your bid agent will be returned to your account.

  • How Do I use a Bid agent?

When you select a specific product, the bid agent feature will be displayed right next to the product picture. Beneath the product, you can see how many bid agents you have placed on that particular product. The number next to the ‘My bid agents’ link indicates the total number of bid agents you have placed. By clicking on the ‘My bid agents’ link you can see details of all of your bid agents.

  • What happens if there are multiple Bid Agents bidding at the same auction?

All Bid Agents will take turns bidding. They will not bid unless someone places a higher bid then they placed. Bid Agents will only bid until they reach their maximum limit or until they run out of bids.

  • How do I edit A bid Agent?

Click on the ‘My bid agents’ link. A list of all your bid agents will be displayed. Select the bid agent you wish to edit.

  • What happens if the bid agent doesn’t kick in?

There are 3 possible explanations

  1. You no longer have any bids left in your bid agent.
  2. Your minimum price has not been reached yet.
  3. The maximum price was crossed.

So as you can see, there are settings so that you can make the auto bidder bid when you want. However this is still not a viable option for anyone that is on a tight budget, the only time I would recommend an auto bidding is if money isn’t a problem and to set the bidder to very aggressive which can sometimes work.

Automatic bidding is not the only tool/feature that you will find on penny auctions, there are other tools such as madbid’s sneak a peak which allows you to look at other people details and all their stats, this can be very useful again, when used properly but we will touch on that in our madbid review.

The other feature which we made a post about because it’s so important is the buy it now feature, heres a few links from the post:

http://pennydecisions.com/buy-it-now/

So what exactly is the “buy it now” option? well, it gives you the ability to buy the item that you are bidding on even if you don’t win with the bids that you used on the auction.  So if the item that you are bidding on has a RRP of $200 and you use bids worth $195 then you can choose the buy it now option, pay $5 and get all your bids back.

We recommend taking a look at that post because the buy it now feature is one of the most important methods of saving money on penny auctions.

 

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