The Basics – So what is the best way to bid on Bidazzled? Since each auction has different people bidding no two are ever the same but there are a number of things you can learn to do to maximize your chances.
BidMate is the bidding assistant that you can use to help automate your bidding process. You can program it to bid for you. It can help you limit when and how much you bid. You can set the number of bids you want this automated tool to use while you surf other auctions. You tell it at what price you want the BidMate to first place a bid and also the highest price limit you want to go, and how many bids it may use. If you are outbid after your Bidmate has reached its limit and you still want to continue, you will either have to bid manually or set another BidMate to continue. Or, you can just stop there, rethink your bidding strategy for that item and try again another day.
Remember – make sure of your plan because once you set a Bidmate the bids are immediately deducted from your account.
It is important to watch an auction before setting a BidMate – are there any other Bidmates out there? If you want to find out for sure set a BidMate with 2-5 Bids. If there is another BidMate activated as soon as you set yours it will immediately fire off all bids until one runs out. Then perhaps you develop a strategy which sets a BidMate at a higher price and do it again – you want to try to guess how high your competition will go. You have to use your head to create a winning strategy.
Types of Auctions
The Standard Auction
There are several types of auctions on Bidazzled. Let’s start with the regular auction. Bidazzled’s classic auction system starts are $0.00 and increments the selling price at $0.15 per bid. These bids cost $0.75, totaling $0.90 profit for Bidazzled at the end of each bid. This is the classic auction layout for Bidazzled.
No Autobidder auctions do not allow BidMates. This is a great type of auction to get into because you know that people are going to have to sit by their computers and stick through the worst. They could be there for hours hitting the Bid button waiting for the auction to end.
Now, you can let them bid away and jump in at the last minute with the tactics later on in this book. These auctions are money makers. Try to look for them and if you can find them for products you like, I would go after it.
These auctions only allow users who have never won an auction on Bidazzled before. From the sound of it, there are plenty of these people out there, so do not be fooled. Competition will still be fierce. It will take a good amount of strategy to dominate this type of auction.
100% Off Auction
Yes, really! These auctions are 100% off the retail price. You only have to pay for the bids and shipping (if there is shipping!) There may not be shipping is because 100% off auctions usually involve bid vouchers or cash. Look out though! These can get very competitive and often go over how much it normally costs. Keep your eyes open!
Penny Auctions
Penny auctions work just like the regular auction – like the name each bid increases the price by one cent. These are good auctions to jump in if you can find an expensive product that is getting really expensive because chances are that it will be ending fairly soon. Why? - because it has received a large number of bids and by this time most bidders are reaching the point of fatigue. This is a good time to come in.
Most importantly, always get acquainted with any auction format by watching and studying it before making any investment as they can be difficult to accurately judge on a first impression. Learn where bidding usually ends for any item.
Keep an eye out for auctions where you will have a better chance winning. One type to look for is an auction where the current price indicates less of a discount because people will have run out of money for bidding and do not want to put any more money into it.
Auction Intervals
Bidazzled auctions have different intervals depending on the auction type and product. There are 3 different auction intervals that you will want to look out for. Each of the names tells how many seconds will be added onto the countdown clock after each individual bid. These intervals are 10-, 15-, and 20- seconds. This isn’t too much of a big deal if you have a fast internet connection, but others with a slower connection may be at a disadvantage if they cannot get the site to sync very quickly because it will give them less time to bid. So if you have a slower connection look for a longer interval.
The Cream Rises to the Top – Know the Competition!
What kind of bidder are you? With a little prior study and planning you can be relaxed, well balanced and ready to react smartly to changing auction conditions – always in control of your game.
How do you do this?
Look at the competition – what types of bidders are active on the particular auction? Look at the price – think about where you think the price will end up.
Ask Questions:
If yes – then sit back and watch for awhile. (it’s free) See if they slow down or if any other bidders get tired and leave the auction. It there is more than 2 bidders going at it, there will be plenty of time.Is a bidder waiting till the last second every time?
If this is the case, it’s a little harder to call. For best results refer to the research you did on several similar auctions and do the math and only play when the average winning price is being reached and exceeded. (You have taken a look reached some idea of what the ending price on this item generally is, right?)
It’s all about the toys The “Gotta Have It” bid first, so, that means you know they are not afraid to bet early. They want this product.
Are any other bidders making your “Gotta Have It” bidder work for it? Has the auction been quiet? If so, there is also a good chance that this bidder walked away from the computer and forgot about the auction. It might be worth a bid to see if this bidder is still in the picture.
Is There is a BidMate Playing?
Study it. Be patient. Let other people bid against it. Then do the math and apply that research you did related to the average ending price of the item. (even better if you know the average ending price of the item for that day of the week and that time of day) When the bidding begins to reach the average price, or when it exceeds it, go and begin the bidding. Be patient and persistent. People will bid against you to defend their investment so be prepared to battle a bit. Perhaps you set a Bidmate of your own to see if you can knock it out quicker. But remember to be flexible in your strategy so that you can react to the changing conditions.
As always, make sure you have a budget and plan in mind and stick to it
So, now that you have these questions answered you can really define what type of strategy you want to implement. You can let the auction go until it reaches the average selling point, or you can begin bidding early if you feel as though the auction is slowing down.
Is it a Holiday?
Remember that people have different schedules over the holidays and they are off work, stay up later and maybe sleep in. Some may get up early just to play. Don’t expect them to be like any other day and keep this in mind when creating your strategy. Oh, and confidentially, bidding when your head is still full of “Nog” from the night before is not a good strategy!
Set Your Bidding Goals
Think you’re ready? Well, before you jump into the general bidding population take one last moment to add one more tool to you box. Get yourself on of those “easy buttons”! Any question is easy when you have the answer, so do your research on the product you want to bid on. What is a deal? What price does an auction for this item normally end at? Is this a good day of the week to bid? Is an auction ending earlier or later a better bet?
To get these and other answers you need to allow yourself some time and you have to put just a bit of effort into getting the numbers. The most important thing to remember is that an auction you like may end while you are researching – but Bidazzled will always have more. (Another bus will always come) . Also, when you are ready, wait for an auction to ramp up. If and when you sense the bidding is slowing, feel free to jump in, just remember to use the strategies.
Disclaimer
You saw this coming – we all know it’s necessary. Basically, it is simply this: Bidazzled is not responsible if you do not win any auctions. Even if you use this strategy guide Bidazzled cannot guarantee you will ever win. That being said those people who do their homework and fine tune their strategy see a much greater success rate than those who choose to just jump in and throw bids around. You are taking a chance by bidding on Bidazzled in the first place, a chance at losing money.
Remember – Bid Responsibly – Never, buy and spend bids that you feel like you cannot afford to lose. Bidding on Bidazzled should above all else be fun. When you are fearful of losing you will most likely not bid effectively.