Making Bank at Pricebenders Auctions
Copyright © Cecil Miles, Your Network Marketing Guide
Please search our archives for many more home based business building tips (link in right column). This Blog carries the full set of Stone Evans' Articles, the home biz guy.
Winning at Pricebenders Auctions can be highly lucrative. Many of our auction enthusiasts resell the item they win for great profits on eBay, Craigslist, or their own web site or blog. It is a lot of fun and challenging and even if you lose the auction you will win membership rewards you can use to purchase any item at TripleClicks, including more T-Credits. Playing smart is the key.
Make sure you read the rules first and “Tips for Winning”; http://www.tripleclicks.com/PBTips.php.
There is merit in watching the auctions for at least a month and I would not recommend jumping in without a solid plan and setting a limit on the number of credits you are willing to lose or the price you are willing to pay (it’s a good idea to have 500 T-Crerdits or more at hand and a willingness to pay full price); remember to average your cost of T-Credits and if you win them at auction you can end up paying 10 cents per credit or less. Always consider the cost of the T-Credits you use for bidding and consider that as part of the cost of the winning bid. The cost of T-Credits at retail can be as high as $1.99 each or as little as 28 cents per credit when purchased in a standing order of 100 packs or more. Have a plan and don't get caught up in the bidding wars. Be careful not to go overboard and lose all your credits in one shot. T-Credits are like virtual currency at TripleClicks. There are over 100,000 products you can use them on.
There seems to be people that will always wait till the last second to bid. I think as suggested at TripleClicks, unless you are at the top already, don't let the timer go past 5 seconds. You can save yourself T-Credits if you wait till its below 10 seconds and before it reaches 5 because when someone else bids it resets the timer and you can save your bid until the next round. Those waiting at the very bottom of the timer might get tiered of waiting and ether drop off or start bidding before losing interest altogether.
If you are new its best not to start at the very beginning of an auction. If you do start at the first few bids be prepared to pay more than the item is worth; the reputation you might gain can save you hundreds of dollars for months. There are many times items sell for less then a dollar; our strategy below can help you be in the right place at the right time for these huge savings.
You should set aside time, like an hour or more to play this game; not having time to sit through a whole auction can be expensive. If you should be working on marketing and recruiting or some other aspect of your business do not waste time spending T-Credits on auto bid or trying to multi-task the auction.
It is best to focus first on the T-Credit Auctions (the 300 packs are the most frequent auctions). After watching 1000s of auctions it can be said that our leading bidders stack up on T-Credits before using them to enter auctions for other items. The cost savings is huge. I have recorded winners averaging costs below a penny per credit for thousands of T-Credits. This sets the stage for bidding domination when you reach 5000 or more T-Credits.
When you enter an auction at the very beginning, the first or second bid, you can place your first 60 bids to stay on top, just in case you get the chance to win the auction for less than a dollar. Play Pick-the-Price every time you play, try to guess the price you think you will win at $1.25 or more. When the price reaches $1.25 stop placing bids to stay on top and switch to placing your bids when the timer gets below 10 seconds and before it reaches 5. You'll see there are others that jump in and challenge the top bidder before you use too many of your own. Keep it up till you have used 10 or few more T-Credits than stop and see who challenges the lead bidder; switching between these two bidding strategies can save you a lot of T-Credits. When you enter the challenge again use 100 T-Credits to reach the top until some one challenges you for the spot and then switch back to bidding between 10 and 5 seconds a few more times.
Calculate your cost of winning before you begin. One of the things I designed my spread sheet for was to calculate the break even cost of using my T-Credits on any given auction. If you are bidding on an item that retails for $87.00 and it cost you .28 cents per T-Credit than you really want to win the auction before you use 300 T-Credits; at .28 cents it will have cost you $84 dollars for the T-Credits alone and at least $6 for the item. Unless you are trying to gain the reputation of a big dog willing to win the auction at any cost you'll be throwing away T-Credits at auctions. Most auctions are won below $10, 1000 bids (or 500 of the winners T-Credits). If you enter an auction after the $5 mark watch closely to see who is playing.
Get to know the players. Watch the bidders for a while, let it go to zero a few times. Even if you lose the opportunity to play this auction there will be countless others you can win. Check the winners list back three pages to see who has been playing, after a while you will recognize who the regular players are. Stay away from bidders that will run you dry or seem to have a bottomless pit of T-Credits. Remember, each T-Credit is only worth a penny on the bidding floor regardless of what your average cost per credit has been. Look at the bid price in terms of the number of T-Credts already used; $5.00 is 500 T-Credts, $20.00 is 2000 and so on. Even though the retail price might be $87, when the price reaches $20 TripleClicks has earned more than $500 on T-Credits they sell back to us. You can only save money at this point by using less than $60 worth of T-Credits: at .28 cents per credit so you will need to use less than 200 T-Credits. This means a two dollar rise from $20 to $24; your $2s and your opponents $2s equals 200 bids each. Think before you bid.
Taking your time at the auction has great benefit. Playing Pick-the-Price before you step in to an auction can help you learn how bidders bid and win. If you win at Pick-the-Price you win 25 to 100 T-Credits. I suggest waiting until you have at least 25 T=Credits, choosing a price between $1.33 and $2.33 and playing at least 20 consecutive auctions at the same price guess. If you find the same time of day to watch the auctions you'll see when it's a good time for you to play your price guess, rather than trying to guess a different price for each auction. Play T-Time for T-Credits when ever you get the chance. Every hour TripleClicks has a drawing and awards 30 players with 2 T-Credits each. TripleClicks has added other Games we can play to win T-Credits; see https://www.tripleclicks.com/indexContests.php
There is so much more that I could share about Pricebenders Auctions but nothing beats seeing them for yourself at: http://www.tripleclicks.com/13938594.8/pbgw
Quote of the Day
Take a second look at what appears to be someone's 'good luck.' You'll find not luck but preparation, planning, and success-producing thinking... "-David Joseph Schwartz
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