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Do’s and Don’ts on Penny Auctions

There seems to be no limit to the number of tips and strategies out there on the Internet about how to win penny auctions and spend the least number of bids to do it.

However, what most DO agree on is that preparing yourself and practicing a few, clear penny auction do’s and don’ts could save you a lot of money AND increase your chances of winning.

For preparation, read (and re-read if necessary) the “How It Works” article HERE.

Then, before placing a bid for a Pricebenders™ auction item, be sure to familiarize yourself with these essential do’s and don’ts:

Pricebenders™ Do’sDos


DO…become a member at Tripleclicks to be able to participate

DO…create a clever username and a distracting avatar

DO…determine a bid budget and stick to it.


DO…watch the Auction Timer.

 

auction timer

 

If the counter almost reaches zero again and again before starting over, it means that there are probably not very many members bidding on that item…and that means your chances of winning are higher.

DO…consider some of the less-expensive items. Generally, fewer people bid on cheaper items and, again, fewer bidders mean your chances of winning are higher.

DO…observe the auctions and list of recently won auction items to determine the best time of day that consistently have the fewest bidders (generally, the lower the winning price, the less bidders there were).


DO…look for Pricebenders auctions designed for new bidders:

“1WA” auctions are open only to bidders who have not won a Pricebenders auction before, while “Jr” (Junior) auctions are open to bidders who have won a total of fewer than 9 auctions.


DO…enter the “Pick The Price” contest.

 

pick the price


Submit the amount you think will be the winning price of any Pricebenders auction. Pick the exact price–or be the closest if no exact picks–and you’ll win a share of our daily Zackpot and a nifty badge for your TripleClicks Homepage!

Play for just one TCredit per entry/auction. No purchase necessary to win. Plus, each entry earns you 5 Member Rewards Points!

Hundreds of chances to win weekly and no win limits.


DO…purchase your TCredits for bids in bulk if you can. In this way, you’ll minimize your cost per TCredit (as low as $0.29 each) and ensure you’ll have as many as you need to complete an auction.

Running out of TCredits at the last moment can be costly…and heartbreaking!

For more information on TCredits click HERE.


DO…on the Pricebenders Auction page, you can check out the auction item’s description page by clicking the item name. In this way, you’ll be sure to know EXACTLY what you are bidding on and avoid unpleasant surprises later. You’ll also be able to see the bid log listing all bidders for this item.

Tip: Click on a bidder’s name to see their TripleClicks “TConnect” Webpage to learn more about him or her. This way you will gain an understanding of his bidding patterns and habits!

Auctions Tconnect


 


DO…use Pricebender’s Bid Assist with care! This useful tool–located in the sidebar–can ensure your bids are entered automatically, so you won’t have to stand by monitoring an auction…but it should be used carefully and with your budget in mind.

Tip: Let’s say you think an item’s final price is going to be $5.75. A smart auto-bid might be to set up, say, 10 TCredits for between $5.50 and $6.00. Of course, keep in mind that if the price never reaches $5.50, none of your bids will be placed.

Conversely, if the price goes beyond $6.00, someone else may win the auction after your ten TCredits have been automatically bid.

NOTE: Some auctions don’t allow bid assist–see the Auction Schedule for details.


DO…watch for “UP” (Under Performer) auctions on the Auction Schedule. They are historically the easiest auctions to win.

DO…only participate in Bid Dog auctions once you’ve become familiar with Pricebenders auctions and have won some other types of auctions.


DO…watch the Pricebenders Bonus Bar–a live, realtime progress bar that sits atop each auction–while bidding. If bidding reaches the end of the Bonus Bar, they LOCK IN the price.

bonus bar

 

So, now matter how much higher bidding goes, your purchase price will always be AT LEAST 77% off the MSRP (Manufacturer’s Suggested Retail Price)!

Of course, if bidding ends before reaching the end of the bar, your savings could be up to 99% off, but you’re always guaranteed to save at least 77% off retail on every auction.

DO…participate in flash drawings for FREE TCredits.

Just bid at least once in the 5 minutes prior to the drawings (marked by the stars on the Pricebenders Bonus Bar). You’ll earn one drawing entry per bid during this 5-minute time period.

DO…read Pricebenders Rules & Policies and be sure you understand the rules and limits for participating in the penny auctions.

Pricebenders™ Don’tsDon ts


DON’T…spend more on an auction than you are willing to lose.

DON’T…wait too long to bid. Connectivity issues, computer crashes, latency (network delays), and other factors may interfere with your bid. If you wait till the last few seconds to bid, you’re running the risk that your bid won’t go through in time.

And make sure you understand that when you bid, it just resets the auction clock, so being the last one to bid before the clock hits zero gains you little if anything…and may just keep you from winning if your bid is delayed by one of the afore-mentioned technical issues.

If your strategy is to wait until the “last possible moment,” we recommend bidding with NO LESS THAN 5 seconds remaining.


DON’T…get overly excited when bidding. You’ll be more likely to break your budget and/or use your TCredits up faster than you need to.

DON’T…get in a bidding war with other bidders if you are inexperienced. Instead, sit back and let others battle and use their TCredits trying to out-bid each other.

DON’T…lose an auction because of a distraction or needing to leave your computer for a moment. Turn on Bid Rescue (located in sidebar) to automatically place a bid for you when needed.

Note: For even more peace of mind, you can set Bid Rescue to ON by default for all auctions you participate in.

phewConclusion


Ultimately, your goal is to have fun!

Yes, winning an online penny auction is a BIG thing and it will bargain you a great deal BUT, it should not be a life or death situation.

In my experience, wins come naturally when you’ve made your plan and let it work for you 😉

 Found this Article Helpful?


Share it with other auction lovers and “serial bidders” out there. Also, feel free to give it a review in the comment section below. I’d love to know your thoughts and experiences with online auctions.

P.S. For more insightful tips and strategies check out How to Win an Auction the SMART Way!

Happy Bidding and Good Luck! :)

 

 

 

 

30 Comments

  1. HI!
    I honestly have never heard of this before but after checking out your site it seems like a lot of fun!! I think I might actually check out the world of penny auctions, and take your advice of course!

  2. This is great! I’d been thinking about delving into this penny auction world so this is a really useful guide to come across. Excellent learning.

    • Hi Ror!
      I am glad you found the article useful. Hope it helps you achieve many hot bargains in the Pricebenders auctions.
      In the Pricebenders Center you will find everything you need to prepare and slay it like the pros.

      For more indepth knowledge, feel free to check out the Steps to WIN in the attached link.
      Happy Bidding and Good Luck!

  3. Hi George,
    Thank you for providing info on the do’s and don’ts of penny auctions. I have seen them advertised but know little to nothing about how they work. However, since reading this post, I have a better idea of how they work. I did sign up for some penny auctions a while ago, but I never placed any bids because I was afraid of losing lots of money. Keep up the good work!
    Deidre

    • Hi Deidre,
      I am more than glad that you found it useful. Penny auctions are a wonderful way to save considerable amounts of money on HOT deals.

      Pricebenders offers a great bidding system in a very easy to use platform BUT you have to know what you are doing to avoid excessive costs and dissappointment. My aim is to help you avoid just that!

      Check out the posts and contents of the site for more helpful information.
      And should you decide to participate feel free to share your experience in the comments section. 🙂

  4. Oh this is good info. My husband loves these auctions. I think I’ll have to print this one out and pin it to the wall for him. Gold. Thanks for the effort.

    • Hi Janelle,
      I am glad you like it. If your husband is a “serial” bidder like me then this is definitely going to become his bible! Wish you guys many wins!:)

  5. I am trying for the chromebook tonight! I’ll have this page open for some last minute tips. Wish me luck!

    • Dear Lea,
      I wish you all the luck in the world! Just a friendly warning: If you are to do this, you’d better place your focus on the auction and not on other things. Remember: You are competing with other people but also with the auction timer! The slightest distraction can cost you. Hope you keep this in mind and use it on your favor! Happy bidding!

  6. I’ve tried beezid some years ago. I think the way I’d gone about it, though, was horrible. I was pretty much everything in your don’t list haha! I used my free points up and never did win anything (I think there were only certain items you could use the free points on). I’m not sure if it’s still an active penny site anymore, but this one piques my interest. It’s definitely something I wanna try again whenever I have the money for it (so, soon, hopefully 😉 ) I think I a lot of my problem (other than getting WAY too excited about bidding and not setting any limits on points spent) was that I just expected to win something with the free points.

    • Hello Samantha,
      Trust me I walked in your shoes and I am sure many others have as well. All the information assembled in this site reflects many days of trial and error and extensive research. In the end, it all comes down to one thing: Make a plan. You can’t go to war without amunition, can you? Same applies for penny auctions online. You study the platform, make a solid plan with your bids and fight the RIGHT way! I’ve tried the best penny bid auctions, but I ‘ve ultimately put my trust in Pricebenders for 2 reasons:1) They are hosted by Tripleclicks which has an online but also physical presence of over 15 years and 2)They utilize a unique bidding system that allows you to do so much more than simply bid on a single item. Check my review on TCredits and you will know what I am talking about. I hope the info helps you gain confidence and experience many wins in the future!

  7. Hi George
    I am not really into the bidding thing, but if I was I’d certainly be taking your advice. I know you can definitely get great deals doing his sort of thing, and you are absolutely right about not being carried away.

    More importantly, I think for anyone into bidding, he/she should definitely set a minimum related to how much they are prepared to pay for a particular item, since it might be easy to get carried away. Also, he/she should be prepared to accept that their bid may not get them the item, to avoid the frustrations of losing out.

    • Hi Vanessa,
      Thank you so much for dropping by. I absolutely agree with what you are saying. It is practically the reason I started writing content about it. The thing is, people get overexcited and, most of the times, they throw themselves at it recklessly. What I have learned from my experience, is that you follow certain guidelines. You don’t take reckless risks that may prove costly in the end, but “calculated” bets rather. You make a plan. And more importantly, you take your time and relax! That’s a much better approach and, contrary to popular belief, it delivers RESULTS! Stick around, and I will provide you with even more accurate information to increase your winning chances!

  8. Wow! I am blown away by all of the detailed, helpful information. Great Job! I didn’t know anything about penny auctions but now I almost feel like I’m an expert! Not really…but I did learn a lot. Keep up the great work! -Alyssa

  9. I have to try this out. I have only recently heard of this, so am anxious to try it out. I am a little scared to though, have a feeling that I will go over my budget! Thanks for the advice, it will really help!

    • Hello Liz,
      I would suggest to study all the information carefully, let it sink in. You need to get an understanding, a certain “feel” out of the bidding platform. There’s no reason to go after the BIG items in your first time. Instead, try a lesser item to get the confidence factor going. I know, sometimes the excitement takes over, especially, with new bidders, But the key is to use your T-CRedits smart. Remember: At the end of the day, all the tips and tricks are simply guidelines to put you on a certain path. The Win depends on You! Good Luck!

    • Hi Cawells,
      Thank you. I am glad you enjoyed the information and I hope you benefit from it whenever you choose to try the auctions.

  10. Amazing stuff. I will make sure to build my strategy around that info. Thank you bunches!

    • Thx Lea,
      I hope it delivers desirable results! Stick around and the Pricebenders Center will provide you with reviews on awesome products to bid as well as many opportunities to make the most out of your TCredits.

  11. I am impressed with the forthrightness of the material and the amount of information given. i tried bidding some years back but did not know of these strategies so i lost every time. I would recommend this site to anyone interested in this niche

    • Hi Gordon,
      I am glad you resonate with the information offered. I hope it gives you confidence to participate once more and win it big time. The platform utilizes a unique system that allows you to benefit in many ways rather than simply bidding on auctioned items.

  12. Quite interested in this Tripleclicks & Pricebenders option – never come across them online before but your review seems to be positive. Tell me, how effective are these penny auctions? Do a lot of members win through on them?

    • Hi Chris,
      I have stuck with this company because they work on very different concept. One of the main pros is that you don’t have to “immediately” bid to actually see how the system works. Also, they are not too busy like other sites which means the “ending” price is ridiculously low! Feel free to check out the latest winners list and will see what I mean. Hope you have an awesome experience with all the info and achieve many wins!

  13. Wow this is fascinating to me. The only experience I have with these auctions is about 3 years ago i tried one and ended up spending all my money and I didn’t get anything for it.

    I had no idea that there were strategies that could help your chences. This is good to know and now I might consider trying it again.. Thanks for sharing.

    Robert

    • Hi Robert,
      I’ve been doing auctions for a couple of years and through that time I’ve experience many frustrations and many awesome moments. I decided to put this site together to offer my insights so that people can benefit from what can be potentially money saving IF done right!
      Wish you an awesome experience and many many Wins!

    • I won a tcredits pak. Dunno if it was luck but i followed the steps of another article from this site and it happened !I am gonna try for an ipod next time!

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