If you have logged onto one of the many unique bid auction sites, you might have noticed that there is a huge range of products available to bid on. There will be things like scooters, games consoles, TVs, DVD players and even camcorders. There is so much choice; it sometimes becomes difficult to choose which items to bid on. Here are some things that you might want to consider before placing bids.
Each Bid Costs Money Remember, this is not a standard auction website. Each bid that you make is going to be costing you money. This means that you need to be clever about the bids you place. Don't just see this as a place to pick up any item you want cheap. You need to be really selective about the items that you are choosing to bid on. If you choose to bid on all the auctions, then you could be spreading yourself extremely thinly. This is going to mean that your chances of winning an auction could be reduced considerably. Instead of actually winning more auctions, you could find that you are winning less.
Popularity Each of the unique bid auctions will have a different level of popularity. Some auction websites might find that TVs and laptops are the most popular. Other websites might see that the lower value items are becoming more popular. If you look at the history of the auction on each site, you should be able to find some information relating to the popularity of each auction. For instance, you might see the number of bids, number of bidders or even the price that the item went for. Obviously the popular items are going to be the hardest ones to win. In order to get the best value for money, picking the items that have a much lower level of popularity is going to be the best route to take.
Budget Your budget for each unique bid auction will usually be a huge help when it comes to making a decision. For instance, if a bid is going to swallow up 50% or more of the cash that you have, then it is going to be worth avoiding. What you really want to go for are unique bid auctions that only take up around 5-10% of your total bids. This gives you a chance to place multiple bids, which will mean that you have a greater chance of winning that auction. Even when you find you hold the lowest unique bid, you can place extra bids and try and get another lowest unique bid. This means that even if someone bids the same amount, you will have a backup ready and in place.
Conclusion There are lots of things involved in building a strategy for unique bid auctions. One of the key things is to pick the right auctions. Think about your budget, the popularity of the auction, but also remember that this is something that costs money, so don't just bid on everything that gets listed.
The lowest unique bid auction site BidGrid is a good place to start. Sign up is completely free and once registered you can bid on their free practice auctions which are a great way to figure out the bidding process and you also get the chance to win free bids in a monthly draw https://www.bidgrid.co.uk/en/how_it_works.html