Posts Tagged ‘Shopping’
Buying for fun, called Penny Auctions in the US and also across the ocean, has lots of competition. Many of the competitors include Bidhere, Swoopo, Dealdash and others. A handful are venture backed and this included Atomico, the group that was spawned out of Skype’s starters. They invested millions in a company from the UK. Even Google’s CEO put a fair amount of money into oohilove but this amount was not disclosed. He was hoping to target the female demographic in the penny bid sites niche. This demographic appeared to be underserved in the penny auction industry excepting for the fact that women bid on iPods and Xbox’s also.
With all this investment money flying around, you have to consider on the actual penny bid strategies. Many bidders find themselves trapped in a bidding mentality where they dabble but never buy. This is insanity. Instead you should have a plan to win the auction with some regularity. You can spend the time buying also which allows you the option of using bids that you’ve placed as credit to get a discount off the retail price. The nice thing about this is that the bidder never has to go over the full price! Naturally this is the kind of auction sites that we recommend to our users on pennyauctionsonline.com.
So let’s show and example of how this could look. Take a favorite camera the coolpix from Nikon. If I placed a 1 penny bid all the way up to the full price, I get the item and get to walk away with a nice camera at the normal price. That’s not all auctions though so you need to verify if that’s an option with the site that you’ve got a “penny auction watch” on. This is nice because you get to walk away with a camera instead of a bunch of bids, a bill, and nothing in the hand.