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Strategies to Apply on PisoBid

Added: (Mon Jul 25 2011)

Pressbox (Press Release) - The advent of the first penny (or should I say piso) auction site called PisoBid (http://pisobid.com/ ) in the Philippines got a lot of buzz on blogs, forums, YouTube, Twitter, and most especially Facebook. This new and exciting method to shop online is getting a lot of Facebook likes from Pinoys—44,000 and increasing every day. Penny auction sites, however, already thrive in many other countries including our neighbors here in Asia. Here are some strategies that can help you win your dream gadget on PisoBid.

Be informed and be patient. You have to know very well how the bidding is done and what you are going up against. Check the “How It Works” portion of the PisoBid’s site. They even provide tips that are useful for new bidders. Read comments on the PisoBid’s Facebook account and observe how the live auction goes. When you register, you get 5 free bids, and you can use these bids to get actual experience on the bidding process. Who knows, when lady luck is on your side, you might just be able to win with just 5 bids.

Be a good sport and be sensible . Remember that there will be only one winner and there is no guarantee that it will be you, so you have to set a limit of how many bids you can afford to use on an item that you are planning to bid on. Stick to this limit so that you do not overstrain your budget. The item that you want will be put on the auction block again and that time, you’ll be more prepared.

Load up on bids. You want to be sure you have enough bids especially when you are preparing for one of the big items to be auctioned. Purchase bigger bid packs where you get cheaper “per bid” price. You can also add up on bids by referring friends. You get 5 additional bids for each referred friend who registers and buys a bid pack. Another method to load up on bids is by participating on Bids Back Auctions featuring bid packs. When you lose on this Bids Back Auction marked by a hammer icon, you can purchase that bid pack and you get all the bids you spent on the auction back for free.

Hold on to your bids and bid late . Learn when the auction of a similar item usually ends then when the auction draws near to your estimated price, bid away. This can be a risky strategy as the item might be won earlier than you have projected, but if that’s the case, then you still have your bids that you can use for other items or for the next time the item gets auctioned.

Do your own research and build your own strategy . Plan your own strategy but be careful of tips or techniques that go against the rules of PisoBid such as creating multiple accounts. Your account may be disabled and you lose out the chance to win electronic gadgets, gift certificates, concert tickets, vacation getaways, and many more. Play smart but fair.

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