What is the Best Time to Bid on a Penny Auction?
We know, we know . . . you want some tips on WHAT to bid on. That’s available on some other pages, but here, we’re going to talk about WHEN to bid. You’ll find that this is an aspect of penny auction bidding that can be very, very important.
In the penny auction world, there is one thing that you can’t control: competition. There’s just no chance that you have to control what other people do (which is true in anything we guess, but it’s a big deal here). You can’t control the number of people from around the world who join a penny auction site and are bidding on that TV you just have to have.
The thing that makes it even worse is you don’t know WHO or HOW MUCH competition you’re facing at any given moment. The only thing that you can control is what you do . . . and believe it or not, there are times when you can limit the amount of competition.
There isn’t an exact science to this, but it just makes sense that there are times for different regions that are inherently going to be less likely to have a high number of people bidding.
Who wants to be on the highway during rush hour right?
When is it Going to Go Down?
Now, as we said, this isn’t an exact science, but we can use common sense a little bit here. Generally speaking, it stands to reason that most people are bidding when they are NOT at work (or if they are we hope they aren’t bidding against their bosses).
It also stands to reason that people can’t bid when they’re asleep. So, if people aren’t at work and aren’t sleeping, they’re most likely going to be bidding during those times.
This means that the following local times are the most likely times that there will be a lower volume of bidders and less competition:
- Eastern US: 4am-6pm
- Central US: 3am-5pm
- Mountain US: 2am-4pm
- Pacific US: 1am-3pm
Please note that the above times take into account the time differences and assume that you’re only bidding against other people in the US. If you’re a night-owl or have the ability to bid in the middle of the day, you’re going to get some opportunities to bid during some low volume/competition times.
Be Careful: “Slow” Times Aren’t Always the Best
This may come as a shock and you may choose not to believe it but penny auction sites are not around to give you stuff for free or to lose money. That’s right, penny auction sites turn a profit. They are a business just like anything else. They are in the business of having the most people bid on their inventory as possible at any given time. Because of this, the more established, well-run (from a profit perspective) sites are aware that there are low volume times.
They limit the number of auctions available during low frequency hours.
You can still take advantage, but it does take some research on your part.
You can gauge the volume of your competition based on the number of auctions that are taking place. If you check back on your favorite site every hour, you’ll see that a certain number of auctions start at each hour. The lower volume means the fewer auctions that are starting. When the number of auctions is low, it generally correlates to lower bidding volume. The way to compensate is by forcing the lower number of bidders out there to bid on the same auctions by offering fewer actual auctions.
By looking at the number of auctions that are running during the hours, you’ll be able to figure out when you’ll run into less competition than usual.
So When Should I Bid on Penny Auctions?
When the volume is low! Duh!
Joking aside, the best time to bid actually depends on the penny auction site that you’re bidding on. To really find the best times, you have to research your favorite site.
The best thing to do is to research the number of auctions that are occurring at specific times and compare the data across several different penny auction sites. You will start to figure out when the best time to bid on the various sites are. Keep in mind that it’s better to look at medium volume sites like HappyBidDay than it is to go to a HUGE site like Quibids.
We’d put it in a chart or something for you, but penny auctions are like the weather: it changes all the time.
Keep this in mind though: There are definitely better times to bid than others. Now you have the strategies necessary for figuring that out.