Penny auctions sites have greatly increased in number in the last couple of years and they attracted lots people who wants to shop, have fun & enjoy the thrill of auctioning and competition. the foremost popular penny auction site is Swoopo.com where auctions never stop with all kinds of popular consumer devices from small flash drives to huge LCD TVsets.
In order for you to participate in these penny auction site you have buy what they call a "Bid Pack", in other words you'll pay for the bids to be placed in auctions and this is where these companies make profit. They sell bids and you get the expensive gadgets by a fraction of their original retail price.
Now to the guide which is specially customized for swoopo but these concepts should work for any other penny auctions site.
1. Avoid Competition.
in order to win an auction, you have to know that the more the competition from other bidders, the less chances you are going to win this auction or the less the bargain your going to have. look for the competition, see how many bidders are there? how many of them are using the automatic bidder? dont enter this auction yet unless these numbers are as small as 1 or 2.
2. Choose the Right Time.
There are some times that the competition in the swoopo auctions are less than usual, these times are dynamic through out the week, however we can say that time from 10am to 12am -time people get to go to work and make their living - or at 1~2am at night - going to bed time - are the best times to sneak and snipe the bargains.
3. Choose the Right Auction.
Fighting against the bid butlers or auto-bidders is pain, I don't like and you also won't like it specially if you are new to swoopo. You should avoid - specially in your first couple of auctions - to engage in battles with auto-bidders, go for the nailbitter auctions where the auto bidders are not allowed.
Also some items attracts lots of bidder, like the Wii and iPhone, try to avoid these auctions as they have too much competetion, and I dont mean to avoid them forever but to wait patiently for a good opportunity to a less competition auctions.
4. Save your precious bids.
Always bid at the last second of the auction. Remember your are paying for the bids, don't wast them. this will minimize the number of bids for you to use to win the auction.
