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Why Penny Auction Requires Bid Planning

Even though a penny auction site provides an opportunity to purchase bid packs instantaneously, it is best to limit oneself to the total number of bids they can place in any one auction. A penny auction may seem like an easy way to score some cheap products or electronic items but for those who have played and lost many times, it is an expensive endeavor that seldom pays well.

Even though luck plays an important role in a penny auction, one can control their losses simply by practicing restraint or bid planning. With proper planning and research, it is highly probable that you will end up winning quite a few auctions without spending more than 20 to 25 bids per auction in the process.

The first thing to discover is how long an auction lasts on your chosen platform or website. Some sites allow auctions to stretch on indefinitely while others shall limit the bidding time period.

Knowing this allows you to place bids close to the end or anticipating an end. Second thing to investigate is the average bids it takes before the auction shall come to a close as this is an excellent indicator of the closing time based on final price. Together with these two pieces of information you can use your 20 or 25 bids effectively and win a few auctions.

About Emma Gilbert

Working in the marketing industry since 2002. This blog is one of my hobbies.

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