Saturday, July 27, 2013

Best Time To Bid

Here are some of the many clocks I have in my house. They are seldom on exactly the right time, but when you are bidding, doing so at the right time could make the winning difference.

Bidding at the Best Time Could Make a Winning Difference

Since I started shopping on DealDash, I learned that being in the right auction at the right time saves bids, money and increases my chances of winning.

Did you ever look at the list of winners who already won a high-value item with a limit of one-per-household?  Sometimes the list shows a bidder who was lucky enough to win the item for less than $5 and yet the exact same item closed as high as $300 or more for another bidder. Why? What made such a huge difference in the closing cost of the same auction product? That is what I tried to figure out, and this is what I learned:

1) If two or more power bidders get into the same auction, they will both be too stubborn to stop. That means the auction will continue for a long time and they will drive the closing cost up to a ridiculously high level. For example, if bidders with screen names like "NeverQuits" and "NeverStops" get into the same auction and if they mean what their screen names indicate, that obviously spells trouble. They will knock heads until one proves to the other they are a meaner, tougher, more stubborn, richer or has more staying power than the other. They cannot both win, so one will eventually have to give up.

To avoid auctions that have two or more power bidders, you must observe the auctions long enough to identify screen names so you know who they are. I have created my own list of bidders to avoid, and I suggest you do the same.  Every penny-auction site has its share of rich and/or crazy and addicted bidders. If a bidder uses more than 5,000 bids to win a 5,000 bid package, that falls into the  "crazy bidder" catagory. I am not saying I have never been there because most of us have made our share of  bidding mistakes. Let us just say I believe I've learned my lesson never to be there again. 

2) If you bid when the competition is low, you will have a much better chance of winning. But when is the competition low? Are certain days or times of the day better than others.  Yes, and that is what this blog is about.

Best Days to Bid

I believe the best days to bid are near the end of each new special. Why? Because it appears that most power bidders reach their win limits near the beginning of each special. Once the power bidders have already won their win limits and get locked out, they are no longer there to compete with me. Therefore, bidding near the end of each new special might mean fewer power bidders are left in the competition.  This is especially true during  "Free to the winner" specials. Let the big boys and girls win their maximum, get locked out and then you might have a better chance of winning.

Late Night Bidding

I believe one of the best times for me to bid is between 11 p.m. and 2 a.m. Pacific Standard Time. Why? Because most bidders in my own time zone have gone to bed while most bidders on Eastern Standard Time (three hours later than my time zone) have not gotten up yet. While DealDash has many retired bidders who might choose to bid all night and sleep in the next morning, at least the bidders who have to go to work the next day have probably gone to bed, cutting down on at least some of the competition.
One bad thing about late-night bidding is that I often found myself falling asleep at my computer and I have lost many auctions because I was too tired to stay awake. To be successful as a late night bidder, you must be able to stay awake and pay attention to the bidding. Therefore, it might be a good idea to take a power nap earlier in the evening.

Early Morning Bidding

I have seen some of the best auction deals close between 5 a.m. and 8 a.m. Pacific Standard Time, so it might be a good idea to go to bed early and get up early to bid on DealDash.  Why? Because many DealDash bidders are already retired. That means they do not have to get up to go to work the next day, so they might stay up all hours of the night and sleep in the next morning. If the retired bidders stay up late bidding, chances are they will be in bed sleeping during the early morning hours. It also means the working bidders will be busy getting ready to go to work. So early morning hours might be one of the best times to find less competition and have a better chance to win.

High Noon Bidding

High noon bidding might also be a good time to bid.  The bidding at noon often appears to be less competitive. It does not appear to be consistently less competitive, but comes and goes. I am not sure
what causes this time of day to be good at times and not so good at other times. I have learned that it is a good time to check to see how it looks.

Bidding on the right auction at the right time is often pure luck, but bidders can increase their chances of winning by paying attention to the days and times of day when the competition appears to be at its lowest.

Visit me here: Barbara Sellers

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