Most Quibids strategies that are present online seem to talk about the obvious – trying to bid at the last moment before the clock runs down or trying to buy win voucher bids first. These strategies all work but one should always understand the limitations of such advice. Quibids strategy varies according to the auction. If you are planning to win a 15 bid Quibids voucher, the Quibids strategy is completely different as compared to if you want to win a Quids Macbook or iPad.
Before you start bidding on Quibids or indeed any other penny auction, you should know and understand how these auctions work and how they differ from ordinary auctions. I would like to emphasize that at penny auctions like Quibids you can lose money without winning anything – something that cannot happen at say eBay. Therefore you should invest money in Quibids only if you understand the risk.
Now that you are ready to start bidding, here is a list of Quibids strategies that will help you win some great Quibids auctions. Follow these instructions as they form the best Quibids strategy you’ll find.
Quibids Strategy-1: Aggressive Can be Good
Look at most Quibids auctions during high traffic times and follow them for some time without bidding. See who wins the auctions. More likely than not, it is the aggressive bidder who wins. This is especially true for smaller items like Quibids bid vouchers and other cheaper and unconventional items. Why is this? The popular thought seems to be that you should wait till the end to bid and not waste bids by being aggressive.
Here’s why – this Quibids strategy plays right to the heart and mind of a penny auction bidder. The psychology of bidding dictates that new bidders can easily be intimidated online by aggressive bidders. If someone sees that he is being outbid each and every time as soon as he places the bid, he loses hope. At this stage, he wants to protect his remaining bids and thus quietly exits the bidding arena. What has actually happened is that the aggressive bidder, even though he had to spend a few more bids, actually ended up winning and the meek bidder simply lost a few bids and actually ended up losing money.
The trick is simple: the only way to make a net profit on Quibids is by winning the item at all costs. Therefore if you can bid aggressively and come out on top, this is much better than being meek and ending up losing the auction.
Quibids Strategy-2: Bid Vouchers can be Bad
I know what you are thinking – if bid vouchers get you extra bids, how can they be bad? Well the usual reasoning is that if you spend 15 bids to win a 25 bid voucher, effectively you have made 10 extra bids. However, this is faulty logic because voucher bids do not count towards the Buy it Now feature of Quibids. Therefore what you are effectively doing is exchanging 15 refundable bids for 25 non-refundable bids that cannot even be used to buy the item at the market price.
The reason you need to preserve the Buy it Now feature for the bids is to minimize the losses. Quibids and other penny auctions can be very risky and you can end up losing a lot of money if you are not careful. The buy it now feature essentially removes this element of risk if you use it correctly, which can be a huge bonus.
Quibids Strategy-3: Know the Time to Bid
I cannot overemphasize the importance of this Quibids strategy. Essentially, whatever other strategy you use, you might fail to win a Quibids auction if you do not follow the right times to bid. There are certain times that are very busy and certain times that are not. However, this is not the only criteria. Sometimes there are only a few people bidding but there are very few auctions as well, so the competition is immense.
Therefore, the key is competition. You need to bid at the time when there are plenty of auctions and not as many people. This is the best time to bid on Quibids. The worst time to bid on Quibids would be when there are too few auctions and too many bidders. Avoiding high competition can get you some amazing deals.