Strategy & Tactics - "Tips and Tricks"
By using your BidCoins to submit a bid, you can bid as many times as you like. Each person will probably develop their own strategy and tactics. Some people study the history of auction items (available to everyone) to develop their own techniques and approaches.
Popular items will usually have many users bidding at the lowest levels of a few cents, which might translate into non- unique bids, so be aware of that tendency and utilize it in your strategy.
It is also beneficial to construct your strategy based on the specifics of the item you are bidding on ( max total bids, BidCoins per bid, number of outstanding bids, your own bids, average bid frequency...etc)
As skill and strategy are vital components to successful bidding, we deliberately made our bid entry prices affordable so that you can apply different bidding strategies (see below), rather than leaving things to chance.
Users can apply one or multiple strategies to auction items such as:
Allocate random ‘scouting’ bids to identify proximity to Lowest Unique Bid
Using this approach, a user can submit several individual bids to identify if the Lowest Unique Bid is close to, or between two bid values. For example, bids are placed at 0.005 USD, 0.010 USD and 0.015 USD. The app will identify the status of each bid (see image) as either Lowest Unique, Unique but not Lowest, and Not Unique. By identifying a Unique but not Lowest bid, then the user can consider submitting further random bids below that Unique but not Lowest bid.
Allocate a continuous range of expected values
This approach is good if there’s a large enough budget. A user makes all possible bid values starting from the maximum value he or she thinks will give a good chance of winning. This strategy means that a player will spend more funds on bids, but also leaves less chances for other users to win as there are less unique spots left. Additionally, this approach allows for back up bids (which are unique but not lowest) should the user already have the Lowest Unique Bid.
In the example below, you can see that the user has multiple unique bids as well as the Lowest Unique Bid. Should another user bid the same value as the current Lowest Unique Bid, then this no longer is Unique. As a result the next Unique bid will become the Lowest unique bid.
Mix of range and random values
This strategy is even more budget efficient, but timing is more important. The User needs to keep up with the auction process till the end, and react to the changes of status of their bids in a timely fashion. Taking it differently this approach saves the budget and brings more fun.
Allocate a range with stepped values or random values
This approach is for the more budget-savvy. A User makes bids by defined steps (e.g. 0.14, 0.28, 0.56, etc) or makes random bids from different ranges to cover broad amount of possible values. In this case, if a user sees that he/she is not winning, then he/she can adjust and track at which range there is a spot left.