DealDash is one of the most popular penny-auction sites. It allows the bidders to purchase a huge collection of products at a lower cost than the retail price. However, winning the auction depends on carefully planned strategy as well as knowing how the system works.
In order to participate in the auction at the DealDash, you have to purchase the bids which come in packs of 60 to 1000, each bid costing 60 cents. The amount of bids you buy is limited only by your budget and how hard you want to win an auction. Of course, the more bids you have the more you are likely to win the auction, if money is not a problem. However, you should be watchful about the power bidders who can push the closing price well beyond the retail cost of the product.
Just to ensure that all participants will have an equal chance to win an auction, even when the power bidders are around, DealDash restricts the number of auctions a particular customer can win in a week. The site allows a customer to win 6 products costing less than $ 200 each or 3 products costing more than $200 each per week. The site also prevents jump actions by not allowing new bidders once the winning price reaches $ 5.
In order to win an auction, you have to carefully assess how strong the competition is. To assist the customers in doing so, DealDash provides with useful information and tips to the customers. Such information includes the occupation of other bidders, indicating whether the customer is a power bidder or not, their experience in the auction site and auctions won by a particular customer. It will certainly help you if you observe the bidding habit of other customers and make a list of the power bidders and when you see one of them participating in the auction, be aware. He or she may bid to any extend only to win the auction. In such situation, you better step aside for the time being and wait for another auction where you may have a better chance to win.
The auction clock runs for 30 seconds after each bid is placed. Timing for placing your bid is important to win the auction. Usually, it is clever to place your bid when the clock is down to one or two second. This way, you may reduce the competition. It is even better if you use the BidBuddy feature of DealDash. This option automates the bids for you and places them at the most convenient time.
If you fail to win an auction, don’t be disappointed. You can still get the product for which you fought so hard. For this you have to use the ‘Buy it now’ option which allows you to buy the product at retail price within 7 days of auction closing. And the great thing is that if you use this option you get back all your bids that you placed in auction.