Thursday, March 6, 2014

Winning Streaks & Losing Streaks

We All Have Them

     I have been shopping on since February 2012. Some weeks I quickly won my win limit for the week.  Other times, it seemed like I was always in all the wrong auctions at the wrong times.  Winning streaks and losing streaks -- we all have them. Nobody can win all the auctions they bid in all of the time.

      If you are in a losing streak, perhaps it is time to take a break or develop some new winning strategies.

     You might be familiar with Kenny Rogers song called The Gambler.  In this song he says
you must "know when to hold em and when to fold em ... when you should walk away and when you should run."

    Even though we can BIN (Buy It Now) and get all your bids back free if we do not win, it is still important to know "when to hold em and when to fold em and when we should walk away."

    Let me give you a recent example. March 4, a 5,000 bid pack went up for auction, and I placed 44 bids on it. Soon it became evident that this auction would not end very soon, so I cancelled all the rest of my bids and "walked away." That was the smart thing to do because I saw about four bidders who were obviously knocking heads -- all four were determined never to quit.  When we get into an auction like this we are usually far better off walking away and getting into the next auction instead.  That is why it is so important to become familiar with how other bidders bid, so we know how to avoid getting into the same auction with certain bidders.

    A few days after that auction started, it finally ended March 6, closing at $343.85. Pianoman42 finallly won it, but did he really win or was he the biggest loser?  He placed his first bid at the very beginning (2 cents) and stayed in the auction to the bitter end. If you do the math, that bidder must have had to invest at least 10,000 bids to win 5,000 bids. On top of that, he had to pay 50 percent of the final sales price. 

     In the meantime, those 5,000 bid packages went up for auction six more times, and all six sold for far less. Jamieis16 won the package for only $2.98
WINDLOCKER  won the 5,000 bids for $6.58.
March 5, SpanishLynxx won it for $40.65
March 6, Beeker won 5,000 bids for $89.16
Bobbyabear won it for only $4.55 and
Cardzz won 5,000 bids for $25.47.

Lesson Learned From This

     Sometimes the biggest winners are the the bidders who quit one auction and bid in the next one.  

All four of those stubborn bidders who refused to walk away from that first auction, would have been far better off if they had moved to the next one that closed at $2.98. Instead of wasting thousands of bids, they could have won the 5,000 bids for only a few hundred or less.



1 comment:

  1. Nice online shopping blog thank you for sharing this important info about online shopping