Knowing Thy Competition

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Knowing Thy Competition

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Penny Auction Competition Tip

Michael, my son, keep your friends close, but your enemies closer!

(Yes, that’s a Godfather thing. If you haven’t seen it, stop what you’re doing, go watch it and then you’ll be ready to go to the mattresses on a penny auction site!)

The theory behind the Godfather Approach is simple: know thy enemy! Here’s the deal, in the penny auction world, just like the real world, there are brains and there is brawn. Brawn will only get you so far. Using brawn WITH brains is going to make a huge difference.

The penny auction world, while containing many people, actually is a small world. If you are using penny auction sites enough, you’re going to start to notice that you see the same bidders again and again. As a result, you can start to learn about them and their bidding habits. This is very, very important information to have.

If you pay attention, you will learn:

  • If they are power bidders.
  • If they like to come in early and bully, or if they come in last minute and try to “steal” auctions.
  • When they bid (during the day).
  • What types of auctions they’re going to go after.

Most users participate in multiple penny auction sites and, most times, they use very similar (if not the same), user names. If you’re really paying attention, you’ll start to see the same person across multiple sites. Chances are, their bidding style on one site is going to be the same on the others.

Use this information to develop your own strategies. It will save you a great deal of money in the long run. Power bidders have one goal: They want to deplete your bidding resources as quickly as possible to win auctions.

By knowing your competition and who they are, you’ll be able to adjust your strategies immediately instead of taking a long time to learn. The longer you are in an auction with a power bidder, the more it’s going to cost you. Remember, power bidders are trying to bully and build a reputation. You can’t punch them in face like a real bully, so in reality, it’s better to just find another auction.

At the end of the day, the more information that you have the better off you’re going to be. Be smart and use your head. Avoid the auctions with the people you know are going to make your life miserable.

2017-05-18T18:37:11+00:00