Penny Auction Strategies – How You Can Win

Many people take pleasure in taking part in penny auctions, the new type of auction website in which the cost of an item offered for sale increases only by a penny or two every time someone bids. These kinds of auctions are different from standard web based auction sites in two different ways:

Bidding isn’t free. Anyone who wishes to place a bid on an item must purchase a package of bids. Bids can be found in packages of between 10 to 100 bids, and they cost upwards of fifty cents for each bid. Sites generally auction off bid packages too, therefore it is possible to acquire additional bid packs at a reduced rate.

The auctions don’t end at a set time, but end about ten seconds following the last bid. Every bid placed in the final sixty seconds of the auction extends the length of the auction, usually by about ten seconds. This means that an auction that appears close to its conclusion may literally continue all day if individuals are bidding.

This unconventional system of selling makes it different from eBay, where the highest bid, regardless of when it’s placed, wins the auction. For this reason, penny auction strategies differ from those used in traditional online auctions. Although there is some benefit in bidding at the last minute on an eBay auction, for instance, there are plenty of auctions where people win by bidding early. In the long run, with eBay, the only thing that matters is that you simply offer the most money.

The possible lack of a defined ending time makes such strategies worthless on penny auction sites. Penny auction tactics are few, but the primary one is this – you should never, EVER, place a bid with more than a minute to go in the auction. The closer you are to the end of the auction when you bid, the much more likely you are to win. Bidding early won’t assist you whatsoever, as most of the bidding in penny auctions will happen in the last minute.

Additionally you may benefit from making use of the built-in proxy bidding “bot” that almost all penny auction sites provide. The computerized bidding program is something that you can set up in advance so you know that your bids are going to be positioned at the appropriate time. If you attempt to bid by hand, your bids will be put into a queue and they will usually be placed after the automated system’s bids. Because of this and delays in both the Internet and the auction system, you might find that last-second bids placed manually don’t get placed at all. When that happens, you lose.

Penny auction techniques are few; your ideal bet is to simply wait as long as feasible to bid, ideally with ten seconds remaining or less. You might catch the other buyers napping and get away with a last-second deal. Bidding early, however, just means that you are throwing your cash as well as your bids away and you do not want that.

Police Auto Auctions – What Everyone Should Know

Auctions are often a great source of excitement, hardships and happiness as it actually involves finding the right buyer for your product who provides you with a good price for the article if you are selling or if you are buying, it could mean wondering if the product that you have purchased is actually worth the amount you have spent for it. Police auctions are those where vehicles that have been confiscated by the government or those that may not be needed by the government are generally auctioned. Here are some tips to help you make a good buy at an auto auction.

o Check for the vehicle’s history before buying. A used car with an extended warranty is more beneficial as you will have to spend less on maintenance.

o In an auction, the user has no time to get the car he is planning to purchase, inspected by a mechanic. It is not wise to go by the seller’s promises about the performance of the car as he is no guarantee to the car’s performance after you have bought the car.

o Note that a buyer’s premium is applied to the highest bidder which could be a small percentage of the price bid or even a larger percentage. This sometimes can make you pay more than what you would have paid for a new car of different make perhaps. So keep your cool and avoid hasty decisions.

o Avoid thinking that you will buy a car at a very cheap rate at a police auction for a police auction is no different from a normal one. In fact the vehicles here are also not in a very great condition as they have remained unused for a long time.

So think, analyze and take your time before you make the final decision.

Police Seized Car Auctions – How to Find the Best Auctions!

Police seized car auctions are now becoming a popular way for entrepreneurial individuals to make some money! However in order to be in a position to make some money you have to be able to find the auctions in the first place!

Car auctions provide the main way that seized police vehicles are sold. What many individuals are unaware of is that general auctions can have a ‘slot’ in their auction time table for police seized cars. This is very popular in the U.K. in particular and it is becoming much more popular in the U.S.

It is also very important to distinguish between the two as I have found that the best buys I have made have been in the auctions which have dealt exclusively with vehicles that have been seized. The reason why is quite simple. Most people have a belief that seized cars by the authorities are pieces of junk. Nothing could be further from the truth with many vehicles being between 3 and 5 years old!

So how do I find these police seized car auctions?

Method #1 Check your local newspapers!

There are three ways. The first is to check your local newspapers. These will periodically advertise any police auctions in the local area. By law all police auctions must be advertised to ensure that the sales process is free and fair and open to the general public. One of the two main problems with this method is that if you miss the advert you won’t know the auction is on. Secondly the advert will only give you a local venue – what about all the other potential auctions where you could be missing great bargains that are within travelling distance?

Method #2 Check online.

The second method is to go online and search for local auctions using a search engine and seeing what results come up. Unfortunately when I have done this I have had to be very ‘imaginative’ with the search terms I have used as most of the information I have had has been either out of date i.e. auctions that have passed or worst of all a bunch of sites that link to ‘links’ – not much use really!

Method #3 Join an Auction membership site!

This has been the best method for me by far. I didn’t realize it until a friend told me. I have been able to attend specifically police seized car auctions primarily because I have a method to accurately find when an auction is on, where it is including the website and contact details which has allowed me to identify potential bargains before going there. The main benefits with membership has been the time saved in identifying the right auction at the right time and avoiding the frustration at always feeling that I have ‘missed out’ on another auction when I knew there was money to be made!