This blog entry is for those of you who don’t know how bidders are able to stay by their computer or why bidders seem to place their bids in turn. They answer to both of those questions is by using the BidBuddy!
The BidBuddy is an automated bidding tool available to bidders, and is by far the most important tool bidders have for winning auctions. Here’s a few different ways that the BidBuddy can help users win auctions:
The BidBuddy Keeps you in the Auctions
You preset the BidBuddy to use a set number of bids in each auction. Once you do that, the BidBuddy will automatically place your bids before the bid clock counts down to 0. By doing this you’re guaranteed to get your bids in before the auction closes, and you’re also free to leave the computer and do other things while participating in the auction. You can go to the bathroom, or you can go to a movie: the BidBuddy makes sure you can stay in it to win it!
Experienced Bidders Know not to Bid Against the Bidbuddy
Once you set a BidBuddy it will place the bids for you, even while you’re away from the computer. If more than one bidder has a BidBuddy active then the BidBuddies will take turns placing the bids. Experienced bidders know this and so they look for these patterns, and if they see it they’ll know that they won’t win until the BidBuddies have run out of bids. One way you can take advantage of this is by placing a small number of bids in your BidBuddy at a time and then watching the auction. This can chase people who are watching the auction away as they won’t be able to tell how many bids your BidBuddy is going to place, but it can also tell you whether other bidders have their BidBuddies set up.
The BidBuddy Makes it Easier to Bid on Multiple Auctions
Many bidders like to multitask and bid on several auctions at the same time. This can be challenging and can be an easy way to sink bids into an auction only to get distracted and then lose out. The BidBuddy provides a sort of safety net by placing the bids for you. It’s always worth putting 5 or 10 bids into your BidBuddy to make sure that you don’t miss out on a big win because you’re looking at more auctions or checking the winners list.
Most auctions on DealDash are won using the BidBuddy, so try using these tips to help YOU win more auctions. Check out this video below to learn how to set up your BidBuddy.
DealDash customers love to win auctions, and they love to win big. By making auctions easy-to-win, DealDash has built up a large number of loyal customers who have spent years on the site winning great deals on a huge range of products.
But with so many well established bidders, it can be challenging for new bidders to jump right in and start winning. And while DealDash does its best to give new customers the opportunity to try out the site in a risk-free fashion, it’s important that new or less experienced bidders think about what they want from the site, and what they’re prepared to do to get it.
Here are five things to keep in mind when you set out to win that iPad or big screen TV. By keeping these five pieces of advice in mind, you’ll be able to save big bucks on your bidding AND winning on DealDash:
Stock up on Bids While They’re on Sale
DealDash is one of the only pay-to-bid auction sites that puts their bids on sale on a regular basis. You should keep this in mind when bidding and stock up when there’s a sale. You can always buy more bids if you think you’re reaching the end of an auction and just need a few more to put you over the top, but by buying when prices are low you’ll save big in the long run.
“Buy it now” When It’s Needed
If you find yourself getting in over your head you should consider using the “Buy it now” (BIN) option. In fact, you should check out the BIN price before you start bidding. When you purchase the item using the BIN option all of the bids you use in the auction are credited back to your account. Not only does this cover you if you go all in on an auction and get outbid, but you can also bid MORE to win if you know you can get your bids back.
DealDash’s BIN option is a great way to ensure you can always get a great deal in the auctions!
Set a Limit and Stick to It
Every bidder will be slightly different, and so everyone should decide for themselves what they want, how many bids they’re willing to use, and when to BIN or walk away. Because everyone is different there’s no formula or standard that will fit everyone, but it’s something you should consider before you enter an auction.
Really Focus on Bidding on the Things You Want
This might sound silly to include here, but lots of people “browse bid” or place bids casually on things they sort of, maybe want. You’d be surprised how these bids can add up, and are essentially wasted. You’re better off really thinking about what you want to get from DealDash that day and commit to it. By focusing your time, attention, and bids you’ll have a greater chance of getting that satisfying win bidders love!
Following these tips will help you win and save money while using DealDash, but you should also spend some time reviewing these blog entries and the website to learn more about the auctions. And don’t forget that you can always contact DealDash’s customer support team if you need help figuring out the site!
Real bidding advice from Bryan and Debbie – Listen to learn how to win more auctions with fewer bids on DealDash.com!
Debbie and Bryan both agree that studying the site before you set out to win that new laptop is the best way to go – winning auctions is a skill so watching, learning, and practicing is the best way to get the most bang for your buck! They discuss issues like bid stomping, the different parts of the site that have information you can use to plan your winning strategy, and the bidders who win big. They also think it’s important to know all the different ways you can earn free bids, what you can buy on DealDash, and who you can contact when you need help!
Greed, fear and hope can be dangerous emotions if we let them drive our financial decisions, cautions Jason Ramos in a blog article published on Wealth Lift’s website. Ramos directs his warning at investors but it applies to bidders too, especially when we add a fourth and potentially the most sabotaging emotion to the top of the list.
Call it feeling frustrated, ticked off, annoyed, irritated or enraged, it takes only a second for anger to drag us blindly down a bidding path that we otherwise would avoid.
Our anger may be directed at bidders who cut into our clock time — and free bids. Or maybe it’s the long line of bidders waiting to jump us at a No Jump auction that ticks us off. Either way, abandoning our bidding rules to teach them whatever lesson we’ve decided they should learn doesn’t enlighten them.
It hurts us.
An odd phenomenon occurs whenever shiny, expensive electronics come up for auction. Even if we’ve already spent this month’s bidding budget and have three computers at home, suddenly we’re convinced that this MacBook Pro or 72-inch television set has our name on it. Mine, we think. I’m going to win. The problem happens when fifty other people simultaneously think the same thing.
We load up our Bid Buddy and then watch as the auction we felt certain we’d steal for eighteen cents goes on all day, into the night, through the next day and the one after that. Then just when it looks like we’ll finally prevail, the next in what we discover is a long line of bidders, jumps us at a No Jump auction. Even if we manage to drive off one jumper, another one takes his or her place. Like ants, the more we get rid of, the more come around.
As we watch the price rise we’re clear on only one idea: our bidding long ago passed the point of no return, that place where we’ve spent too much to walk away and we can’t afford to BIN (Buy It Now at retail price and get our bids returned). So we pump more bids into the automated bidder wishing there was a 911-Help-I’m-In-Over-My-Head Hotline for Bidders we could call.
We don’t want to think about how much money we’ve spent. We just want to win, even if that means losing because we pay more than the item’s worth. That’s when anger can escalate into fear. What were we thinking of? Well, probably that we’d win but most likely, we didn’t think. We bid based on how we felt.
Hope is not a winning strategy, according to the money gurus.
On my smarter days when I find myself in bidding hot water, I collect my senses, BIN, get my bids returned and vow not to do this to myself again. Here are some suggestions for how you can avoid the emotional traps that sabotage bidders and instead develop your own strategies for bidding smart.
Change hope to strategy by researching first, before you bid. Most of us have heard the adage, Information is Power. The reason that saying has been around so long is because it’s true. DealDash.com makes it possible for all bidders to stay equally well-informed. The Winners List at the top of the DealDash.com home page gives detailed information about how much an item has sold for in the past, who won it at auction and the day of the week and time of day it sold for a particular price. Each item auctioned has a home page that gives detailed specs. It’s also where we go to use the automated bidder. The spec page gives us a chance to review exactly what it is we’re bidding on and potentially buying. When emotions are driving our bus, it’s easy to forget that we may not win. Make sure you’re bidding on something you want, that there aren’t any glitches in that shiny, expensive electronic that will make it not-right for you. Get in the habit of using the auction search function, too. By searching for upcoming auctions on an item, we may find a different model – one we like more – or an auction taking place at a better time for us. From the results of that search, we can set up alerts that will notify us about all the upcoming auctions for any type of item. Use these tools to your advantage. And don’t forget to check your budget to make sure you’re not straining it.
Once you get in the habit of researching auctions, you’ll see the wide disparity in prices bidders pay for the same item. A camera that sells for $18 one day can auction for $299 the next. If that computer or camera can sell for $299 in one auction, it can go that high – or higher – in the auction you join. Remember, there are no guarantees that we’ll win; only that we don’t have to lose. The risk of needing to BIN comes with every auction, even when we’re convinced an item already belongs to us. The only way to eliminate risk exposure is to BIN when we don’t win.
Freeze fear by tracking all auctions you join. Worried about whether at the end of the day you’re really winning? Really winning means we pay under retail value counting the cost of bids plus the auction price. Be your own bookkeeper. Know where you’re at in any auction at any time. Your Dashboard can help you and it’s especially helpful if we’re involved with more than one auction at the same time. From the Dashboard, we can see total bids invested, how many bids are left in the automated bidder and it links directly to an item’s home page. Remember, keeping track means keeping track of our bid investment in an item, not just counting the auction price we’ll pay. And, make sure to bid from an item’s home page not the DealDash.com home page. You’ll stay more aware of exactly where you’re at. When you’re keeping track of your investment in an auction, don’t guess. Do the math.
If you intend to bid on an item you know you can’t afford to purchase if you don’t win, set a limit for yourself about how much you’ll invest. Decide on that amount before the auction begins instead of waiting until the heat of the moment, when you’re more vulnerable to allowing your emotions to drive your bus. How much are you willing to lose if the auction doesn’t play out as you hoped? Write that number on a piece of paper and don’t re-negotiate when you hit your limit.
Neutralize greed by setting and sticking to your limits. Greed takes over when we log-in to DealDash.com and see that sweet HD television that recently sold for $8.00 and an auction for that same item just started. Planning flies out the window. We start bidding. Soon the price for the television we’re bidding on is over $100. After two or three more days of watching the price rise on what we felt sure would be a snappy win, it’s not uncommon to start yelling at our computer about all the people in the auction who won’t just leave and let us win it. You don’t have to be that person. Stick to the facts instead of taking that emotional roller coaster ride. The facts include: retail value of the item, your total investment in the auction including bids and auction price and making certain your investment doesn’t exceed retail market value – no matter how tempting it is to teach that jumper a lesson. Set a bail time, a walk away dollar limit and then stick to it. Use common sense. If your emotions lead you down the wrong path, get out as soon as you realize you’re on it and then don’t beat yourself up. Vow to bid smarter the next time by sticking to your rules and not letting greed decide when you’ll bid. Bidding is fun. But it’s not fun to get sucked into bidding for six days on an item we don’t want but started bidding on because our greed led us there. You will win big. Just not every time and not as much as you’d like. Letting greed make your bidding choices guarantees you’ll lose.
Knock out angry bidding by sticking to your strategy. Whether your anger trigger is jumpers, new bidders who don’t understand the importance of letting the clock run out (because we get free bids) or any other aspect of the site, bidding rage won’t help you win. Getting angry won’t help other bidders learn their way around the site or learn to follow the rules. If a particular issue really bothers you, contact customer service. They can and do make a difference. Angry bidding won’t. If you’ve done your homework, then trust your plan. Take a few deep breaths or whatever technique you use when you get upset. What do you need to do right now to bid smart? If you’ve made a mistake and are frantically bidding on something you don’t want or if you’ve surpassed your budget, then it may be time to bail. Trying to negotiate losses rarely works. Let it go and focus on learning your lesson instead of teaching someone else theirs. Next time you participate in an auction, know that sometime things will work out. Sometimes they won’t. Screaming at your computer or quickly rewriting your bio to scold other bidders likely won’t help.
Online auctions can be a fun way to shop. They can also be frustrating when we allow emotions to shape our decisions. One way to eliminate frustration and anger from bidding is by taking the long view. Learning how to bid smart and get the best deals offered by DealDash.com is a marathon, not a sprint. It takes time, experience and commitment. The first year I began bidding, I lost money because I didn’t bid smart. Since then, I’ve recouped my early losses and now look at bidding at DealDash.com as my preferred and the least expensive way to shop.
When I balance emotions with rational thought, stick to my budget and respect the bidding rules I set for myself and save emotional indulgence for after the auction, my average discount rate at DealDash.com skyrockets back into the 80 – 95% range. I win more than I BIN. Instead of feeling outraged, indignant, afraid or greedy, I’m back in the game and biding becomes fun again.
Don’t let any of the four dangerous emotions sabotage your success.
This blog post is to help bidders learn a few of the basic building blocks to a winning strategy. If you’re an experienced bidder, it might be useful to revisit some of these ideas and think about whether or not there’s room to refine your strategy.
If this is your first experience with DealDash, congratulations! DealDash is the longest running pay-to-bid site of its kind in the United States, and currently provides service to over 1.5 million registered users. Everyday people visit the site, have a great time bidding and looking through the thousands of available items, and many customers (even the new ones) win great deals on products they love.
But winning isn’t a matter of luck on DealDash: bidders who win do so because they’ve taken the time to learn how the auctions and the website work. By keeping these few pieces of advice in mind you can save yourself both time and money and learn what the best bidders already know!
Watching Auctions Pays Off More Than You Might Think
Watching auctions on DealDash might not be as much fun as watching your favorite TV show, but it pays off for bidders. The MOST IMPORTANT thing to do to create a winning strategy is to learn how bidders behave in the auctions (this is advice from some of the most experienced bidders on DealDash)! Spend a little bit of time watching how bidders react, who bids when, and what kind of products attract more bidders. Watch and learn…then win!
Read Through the Website and Some of the Blog Entries
DealDash regularly posts information to help people learn how to win, both in this blog and on the website. While the blog provides summaries of key strategies and provides some context on how they can be used to your advantage, the website contains raw data that you can use to make decisions. Pages like the Winners page lets you see who’s winning what, when they’re winning it, and for how much – all of them important pieces of information. Information like that can tell you who might be a power bidder, or highlight a couple of hours when the items sold for unusually cheap prices. The blog, on the other hand, highlights some of the particulars of bidding and helps illustrate how certain features, concepts, and ideas can be your key to winning auctions.
Familiarize Yourself with the Tools of Your Trade
DealDash has several unique features to help bidders in their quest for bigger and better wins. Many of the tools are easy to use and understand, but surprisingly some people don’t take the time to learn about them before bidding. Here’s a few example of things you can use to help you learn to win auctions:
- Bookmarks – You can bookmark auctions that you’re interested in and then view them all on the same page
- The BidBuddy – The BidBuddy is an automated bidding tool that places bids for you even while you’re away from the computer.
- No Jumper Limits – One of the most frustrating experiences for bidders is when they’re reaching the end of the auction.
It’s down to you and one other bidder (who may or may not be your arch nemesis)…and you’re bidding back and forth trying to outlast each other. It’s been a long, hard-fought battle, but now you can see the light at the of the tunnel…and then another bidder joins the auction.
Nothing is worse for bidders than the above situation, which is why DealDash has implemented “No Jumper” auctions. These No Jumper auctions prevent new bidders from joining after the item price reaches $5 (sometime less if there’s a sale), thereby limiting the number of bidders who can join that particular auction. There’s less competition in these auctions, and so they’re easier to win!
The “Buy it Now” Helps you Save Money
People come to DealDash to win great deals in the auctions, but nobody wins all the time. That’s why there’s the “Buy it now” (BIN) option. This lets you buy the item from the auction at a regular price. You read that last sentence and though “Where’s the deal in that?”. Well, when you BIN an item, you get all your bids back from that auction for FREE, and so you can use them in another auction. Many new bidders don’t realize this at first, but this can actually help you save a lot of money on bids, and you still get the product you want. It really minimizes the risk of using your bids and then walking away with nothing. That’s why bidding DealDash is a risk-free proposition!