A summary of tips some of the most frequent winners of our entertaining auctions shared with us, how you can increase your chances of winning our popular auctions.There is no random element in our auctions. In all auctions you will bid against other bidders. So it is very much about the knowledge, tactics and timing, and endurance to win the auction or not. Just as it has always been in the auction business. The person who has the most knowledge about products and demand, and has the best bidding strategy, has always done the best deals at all types of auctions. It is the same here. Therefore some of theses tips and trix“s are shared.

 

Strategic Considerations


It is important to note that the strategy of waiting to place a bid is not necessarily the most successful one for example: 
If at the close of the auction we didn't have a single lowest unique bid the successful bidder would be determined by the two 
lowest exact same bids however the bidder awarded the item would be the bidder that placed the first bid.
So in that scenario it is very important to get your bid in early.

In regular lowest unique bid auctions, most bids in an auction is placed under 10% of the products market value. If there is a very popular product, it can go up to 20% and in a less popular about 5%. That means the lowest unique bid usually is found just under 50 % of these values between 2-7 % of the market price. Roughly as below table shows:

Type of auction

Product marketprice

Location of the majority of bids

Lowest unique bid area

Normal

R 1 000

Below 10% (1 - 100)

Between 3-6% (30 - 60)

Popular

R 1 000

Below 20% (1 - 200)

Between 5-10% (50 - 100)

Less popular

R 1 000

Below 5% (1 - 50)

Between 2-3% (20 - 30)

With more expensive products, the lowest unique bid goes up slightly in percentage, and with cheaper products, it usually goes down a percentage or two.But no rule without exceptions, and the more customers who are now reading statistics and facts about past auctions will get more knowledge, which they of course will have as a base and asset for their bidding strategies. It's all about how you place your bids a bit smarter than the other bidders. And if there is very few bidders, your possibility of winning the auction is of course higher. And remember there is no element of luck here.What is there for different types of bidding strategies?Some participants go in early in an auction and buy a large range of bids from 1 and upwards. So they certainly have the lowest unique bid from the start of an auction. Then they sit and consistently defends its lowest unique bid by purchasing more and more bids up the numbers, as more and more of their lowest and unique bids in the auction gets not unique. Then it is just the question how far you are willing to go to defend your lowest unique bid.Other tactics is similar but with a reduced number of bids, ie. the bidder purchases every third or fourth bid. Another strategy is to visit later or at the absolute end of an auction to place a larger number of bids, based on previous statistics on the same or similar closed auctions. Some participants do it with a full second with a reduced range and in some advanced cases, even at your chosen end figures analyzed by the least likely that other bidders place their bids. Some participants always place their bid or bids at the same number regardless of auction and time, if it is based on careful analysis and other theories.As you see there is many different strategies behind the bidding. The vast majority place their bids themselves, others do it with others. It is no coincidence that certain names recur as the winner of our lowest unique bid auctions. They both invest more time and money in our auctions and therefore win more often than others. Some of them are doing very large profits some are not.To win more lowest unique bid auctions, you should:

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Then of course you should never add more bids in an auction than what you can afford to lose.